14th May 2019
Danish prosecutors have charged the former chairman of Denmark’s Financial Supervisory Authority (FSA) in connection with Danske Bank’s €200 billion money laundering scandal, the Financial Times reported. Law enforcement officials indicted Henrik Ramlau-Hansen, and raided his home, over allegations that the former FSA chairman failed to prevent illicit transactions while serving… Read More
14th May 2019
Pakistan will implement fiscal and regulatory reforms, including strengthening its controls against financial crime, as part of a 3-year, $6 billion bailout agreement reached with the International Monetary Fund (IMF), the organization said Sunday. The staff-level agreement, which has yet to be approved by the IMF’s board, would seek to… Read More
14th May 2019
The European Commission said on Monday it would take legal action against Romania unless it reversed measures that undermine the independence of its courts and the fight against corruption. The executive Commission, which is the guardian of the EU treaties, has repeatedly said laws introduced by Romania’s ruling Social Democrats… Read More
14th May 2019
AP — Felicity Huffman was silent and held her brother’s hand Monday as she arrived at federal court to become the highest-profile person so far to admit to taking part in a college admissions bribery scheme that has also ensnared prominent college coaches and figures from the business world. Huffman,… Read More
14th May 2019
The U.S. Commerce Department said on Monday it banned six Chinese technology entities, one Pakistani firm and five based in the United Arab Emirates from exporting sensitive U.S. technologies and other goods. In a statement, the Commerce Department said four of the Chinese firms, also with offices in Hong Kong,… Read More
14th May 2019
The UK National Crime Agency (NCA) has seized approximately £6 million in assets from a British lotto winner, a property developer and a barrister believed to be members of an international money laundering ring. The seizure orders mark the culmination of an 8-year civil recovery case against businessman Jonathan Nuttall… Read More
13th May 2019
The Nordic region’s six major banks are joining forces to set up a customer checking center to crack down on money launderers, part of efforts to recover from a scandal that has shaken confidence in the finance industry. Danske Bank and Swedbank have lost billions from their market value after… Read More
13th May 2019
The Trump administration on Friday expanded the scope of its Venezuela sanctions to the defense and security services sectors to try to crank up economic pressure on Venezuelan President Nicolas Maduro. The White House is keen to show that momentum in its four-month-old campaign against Maduro has not waned, particularly… Read More
13th May 2019
Swedbank’s nomination committee proposed two new board members and called for an extraordinary meeting to be held before June 21, as Sweden’s oldest lender tries to recover from a money-laundering scandal in the Baltics. Swedbank’s reputation has been marred since it was linked to a money-laundering scandal at Danske Bank,… Read More
13th May 2019
AP — Switzerland’s attorney general is the subject of a disciplinary case related to his handling of a four-year investigation of FIFA that involves 25 criminal proceedings. The federal office overseeing the work of chief prosecutor Michael Lauber said Friday it is examining possible violations of his duties in… Read More