US: Sanctions for TV mogul, Venezuelan firms over $2 billion scam
10th January 2019
US: Sanctions for TV mogul, Venezuelan firms over $2 billion scam
The US has imposed sanctions on the owner of a TV station, former Venezuelan government officials and other companies it says were part of a bribery and currency exchange scheme that generated over $2.4 billion in corrupt proceeds. Venezuelan officials plundered funds from the government through conducting illegal foreign… Read More
UK: MP cleared of election expenses fraud, aide convicted
10th January 2019
UK: MP cleared of election expenses fraud, aide convicted
A member of parliament from Prime Minister Theresa May’s minority ruling Conservative Party was cleared on Wednesday of declaring false expenses during Britain’s 2015 national election in which he narrowly beat leading Brexit figure Nigel Farage. Craig Mackinlay, 52, defeated Farage, the former head of the UKIP party, to win… Read More
Anti-money laundering analysis: UK FCA and EU blacklists update
10th January 2019
Anti-money laundering analysis: UK FCA and EU blacklists update
A key element in the application of the risk-based approach (RBA) to financial crime is the identification by a firm of those countries with which its customers are closely linked and which are also adjudged to be high risk in financial crime terms. There are many lists of such high-risk… Read More
London fraud: Chinese restaurant owner made millions, declared just £2,000 income
9th January 2019
London fraud: Chinese restaurant owner made millions, declared just £2,000 income
A North London man who falsely claimed his business was a small pottery unit when it was in fact a profitable cash-generating Chinese restaurant has been jailed. The businessman owned outlets in North Greenwich and at Gun Wharf Quays shopping centre in Portsmouth, Hampshire. He failed to declare cash… Read More
Money laundering: Barclays trains staff to detect human trafficking
9th January 2019
Money laundering: Barclays trains staff to detect human trafficking
Workers at some local Barclays Bank branches have been trained to detect the signs of human trafficking, the proceeds of which are commonly laundered through bank accounts. The training was part of an awareness raising initiative with anti-trafficking charity Stop the Traffik, which saw staff at Barclays branches in… Read More
New documents link Huawei to suspected front companies in Iran, Syria
9th January 2019
New documents link Huawei to suspected front companies in Iran, Syria
The U.S. case against the chief financial officer of China’s Huawei Technologies, who was arrested in Canada last month, centres on the company’s suspected ties to two obscure companies. One is a telecom equipment seller that operated in Tehran; the other is that firm’s owner, a holding company registered… Read More
In shift, EU sanctions Iran over planned Europe attacks
9th January 2019
In shift, EU sanctions Iran over planned Europe attacks
The European Union on Tuesday froze the assets of an Iranian intelligence unit and two of its staff, as the Netherlands accused Iran of two killings on its soil and joined France and Denmark in alleging Tehran plotted other attacks in Europe. The move, although in part symbolic since one… Read More
Prosecutors in ‘El Chapo’ trial play calls intercepted by FBI
9th January 2019
Prosecutors in ‘El Chapo’ trial play calls intercepted by FBI
Prosecutors in the trial of “El Chapo” Joaquin Guzman on Tuesday played excerpts from what they said were incriminating phone calls made by the accused Mexican drug lord and intercepted by the FBI after they infiltrated his encrypted messaging system. Nearly two months into the trial of Guzman on charges… Read More
House Democrats demand briefing on Russia sanctions decision
9th January 2019
House Democrats demand briefing on Russia sanctions decision
AP — The leaders of seven House committees are calling on Treasury Secretary Steven Mnuchin to explain why the United States is easing sanctions on companies linked to Russian oligarch Oleg Deripaska. It’s one of the first moves of the new Democratic House to scrutinize… Read More
Almost £800 billion of assets moved from UK to EU over Brexit fears
8th January 2019
Almost £800 billion of assets moved from UK to EU over Brexit fears
Faced with increased uncertainty in the outlook over the UK’s relationship with the EU, financial services firms have continued to relocate staff and assets away from London to Europe, in a bid to protect their clients and investors from the impact of any Brexit outcome. As of 30 November… Read More
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