13th April 2021
The U.S. Treasury Department last Thursday sanctioned Myanma Gems Enterprise (MGE), the state-owned entity responsible for all of the country’s gemstone-related activities. Gemstones are a key economic resource for the Myanmar military as it violently represses protests against the Feb. 1 coup and lethally attack the country’s people, including… Read More
12th April 2021
Western Australia’s royal commission into Crown Resorts has commenced, with chairing commissioner Neville Owen declaring the inquiry will examine “grave matters of private and public interest”. The first royal commission called in the state in 20 years, which has been named the Perth Casino Royal Commission,… Read More
12th April 2021
Bank of Ireland will allow asylum seekers to open bank accounts from May 14. A Bank of Ireland spokesperson told the Irish Independent that the bank is very aware that in some specific circumstances, a customer may not have documentation that’s normally required to open an account. It has now… Read More
12th April 2021
AP — The Eastern Caribbean has created its own form of digital currency meant to help speed transactions and serve people without bank accounts. The Eastern Caribbean Central Bank said its “DCash” is the first such blockchain-based currency introduced by any of the world’s currency unions, though… Read More
12th April 2021
Amendments to the Corporate Service Provider regulations will help weed out any bad apples from the system, Emily Benson, the Malta Financial Services Authority’s (MFSA) Head of Conduct Supervision told The Malta Independent on Sunday. Benson was part of the team that spearheaded the new Company Services Providers (CSPs) regulations… Read More
12th April 2021
The UAE Ministry of Economy announced the extension of the deadline granted to companies in the “specific non-financial business and professions” sector to register in government regulations approved for countering money laundering and combating the financing of terrorism until the end of April. The decision is due to the large… Read More
12th April 2021
At 5am on a chilly Tuesday morning last month, 1,600 police officers and balaclava-wearing special forces, bristling with arms and battering rams, were ordered into action around the Belgian port city of Antwerp. More than 200 addresses were raided in what was the largest police operation ever conducted in the… Read More
12th April 2021
Up to one money mule on average is being arrested every day by fraud squad detectives investigating multiple different money laundering targets across the country. The problem is so extensive that officers from the Garda National Economic Crime Bureau (GNECB) plan to make 700 arrests in the coming months of people who have allowed… Read More
12th April 2021
A Portuguese judge on Friday ordered ex-Prime Minister José Sócrates to stand trial for money laundering and falsifying documents but dropped more serious charges of corruption against the former Socialist leader, who prosecutors had accused of taking €34 million in kickbacks. “There would seem to have been the acceptance of… Read More
12th April 2021
Controversial rules that are meant to tackle financial crime in the voluntary sector will be watered down following an outcry by NGOs. Government sources told Times of Malta that a list of changes will be drafted to the rules introduced to combat money laundering within the voluntary sector. The regulations… Read More