28th February 2019
AP — Talks between President Donald Trump and North Korea’s Kim Jong Un collapsed Thursday after the two sides failed to bridge a standoff over U.S. sanctions, a dispiriting end to high-stakes meetings meant to disarm a global nuclear threat. Trump blamed the breakdown on North Korea’s insistence that… Read More
28th February 2019
The United Kingdom’s sanctions enforcer levied a £5,000 monetary penalty against London-based Raphaels Bank, marking the first time the agency has imposed a fine since its creation in 2016. The Office of Financial Sanctions Implementation (OFSI) imposed the penalty for an unspecified violation of an Egyptian asset freezing order involving a £200… Read More
27th February 2019
The European Union should set up a police force to investigate tax evasion and financial crime and create a watchdog to counter money-laundering, EU lawmakers said in a report on Wednesday, which accuses seven member states of acting as tax havens. The report is the result of a year’s work… Read More
27th February 2019
AP—Ukraine’s Constitutional Court has struck down a law against officials enriching themselves, a move that raises concern about the country’s fight against endemic corruption and about whether it can get further aid from the International Monetary Fund. The Ukrainian branch of Transparency International said Wednesday that the decision meant… Read More
27th February 2019
The United States, Britain and France proposed on Wednesday that the United Nations Security Council blacklist the head of Pakistan-based militant group Jaish-e-Mohammad, which said it attacked an Indian paramilitary convoy in disputed Kashmir. However, the move is likely to be opposed by China, which previously prevented the Security Council’s… Read More
27th February 2019
The European Banking Authority will take a stronger approach over time to fighting money laundering in the economic bloc, according to the man nominated to chair the organization for the next five years. Speaking to lawmakers on the Committee on Economic and Monetary Affairs, Jose Manuel Campa said Tuesday that… Read More
27th February 2019
On February 7th, Kollmorgen Corporation (“Kollmorgen”) of Radford, Virginia, agreed to a settlement with the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) for six apparent Iran sanctions regulations violations by its Turkish affiliate Elsim Elektroteknik Sistemler Sanayi ve Ticaret Anonim Sirketi (“Elsim”). Despite significant preventative, investigatory, and remedial… Read More
26th February 2019
Prosecutors raided locations across the Netherlands on Tuesday as part of an investigation into the alleged use of shell companies to distribute $100 million in bribes on behalf of Brazilian conglomerate Odebrecht SA. Data and financial records were seized from half a dozen homes and businesses, the Dutch financial prosecutors… Read More
26th February 2019
An internal investigation by HSBC Holdings PLC into Huawei Technologies’ connections to a suspected front company in Iran found that the Chinese telecommunications equipment maker maintained close financial ties to the firm years after purportedly selling the unit, documents reviewed by Reuters show. Huawei came in late 2016 and 2017… Read More
26th February 2019
Swedbank said on Tuesday it had hired external forensic auditors to investigate information in a media report linking the bank to a Baltic money laundering scandal, replacing recently appointed audit firm EY. Sweden’s public broadcaster alleged last week that money laundering could have occurred in relation to at least 40… Read More