3rd March 2019
AP—The financial intelligence unit of Mexico’s treasury has frozen $156 million of the state Autonomous University of Hidalgo’s funds while it investigates suspected money laundering, Treasury Secretary Santiago Nieto said Friday. The university received the money through Switzerland from accounts in 22 countries, according to the agency. Mexico’s financial… Read More
3rd March 2019
India’s financial crime fighting agency said on Friday it was conducting searches on properties of former ICICI Bank CEO Chanda Kochhar and a top executive of Videocon group, amid probes into suspected conflict of interest and misconduct. Searches, under prevention of money laundering laws, were being conducted in Mumbai and… Read More
3rd March 2019
Hermitage Capital’s founder Bill Browder said on Friday he plans to file criminal complaints with several authorities, including in Sweden, over Swedbank’s alleged link to a Baltic money laundering scandal involving Danske Bank. Browder, once the biggest foreign money manager in Russia and who now campaigns to expose corruption, has… Read More
28th February 2019
The adoption of a European Union money-laundering blacklist, which includes Saudi Arabia as well as Puerto Rico and three other U.S. territories, could be blocked by EU governments under a procedure launched on Thursday, two EU diplomats told Reuters. Some governments opposed adopting the provisional list on Thursday, triggering a… Read More
28th February 2019
UK law enforcement officials are seeking court orders to freeze 95 bank accounts mostly held by overseas students as part of an investigation into money laundering by organized crime groups. The multi-agency effort, led by the newly created National Economic Crime Centre (NECC), is targeting £3.6 million believed to be… Read More
28th February 2019
New York State-chartered banks spent significant sums on third-party consultancies and in-house compliance upgrades to meet a New York State deadline last year, say industry advisors. Under rules finalized by the state’s Department of Financial Services (DFS) in 2016, banks and other covered businesses must implement and periodically update “end-to-end”… Read More
28th February 2019
Israel’s attorney-general announced on Thursday he intends to indict Prime Minister Benjamin Netanyahu on corruption charges, a decision coming just six weeks before a closely contested national election. It was the first time a serving Israeli prime minister has been put on official notice of planned prosecution, and deepened uncertainty… Read More
28th February 2019
The U.S. embassy in Sweden has asked the country’s financial watchdog FI for a meeting to discuss allegations about Swedbank’s involvement in a Baltic money-laundering scandal. The move raises questions whether the U.S. authorities will seek to investigate Swedbank. A FI spokesman said on Thursday it had received a letter… Read More
28th February 2019
AP — The founder of a purported cryptocurrency company has been charged with cheating investors out of millions of dollars by selling fake virtual money he falsely claimed was backed by gold. Federal prosecutors in Massachusetts say My Big Coin Pay Inc. founder Randall Crater of East Hampton, New… Read More
28th February 2019
A former U.S.-based oil trader sought in Brazil over a multimillion-dollar bribery scheme involving commodities traders Vitol, Glencore and Trafigura has agreed to plead guilty to conspiracy to commit money-laundering in the United States, court records show. The plea is part of a cooperation agreement by a key figure in… Read More