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FCA opens investigation into collapse of Greensill Capital

The City watchdog has opened the door to a criminal prosecution of Greensill Capital and confirmed that it is investigating the failed lender. Nikhil Rathi, chief executive of the Financial Conduct Authority, said that the regulator was “investigating matters relating to Greensill Capital”. His comments came in a letter to… Read More

JPMorgan Must Turn Over U.S. Compliance Records in Nigerian Oil License Case: UK Court

The UK High Court has ordered JPMorgan Chase to turn over compliance documents ahead of a trial in which the bank stands accused of enabling the misappropriation of $875 million from the government of Nigeria, the Financial Times reported on Tuesday. The decision stems from an… Read More

How bell-ringers and a bowls team are among groups caught up in HSBC’s money laundering blitz

Village bell-ringers and local bowls clubs are having their bank accounts closed by HSBC in a crackdown on money laundering. Last month, Money Mail revealed how the international bank had shut down the account of a pigeon racing club, and we have since heard from other community groups which have… Read More

11th May 2021

The UK is losing the fight on money laundering, but we can still win – if we want

By David Leask, openDemocracy, 10 May 2021 openDemocracy — At the end of 2018, a softly spoken British executive matter-of-factly told the European Parliament how to clean tens of billions of dirty dollars. Howard Wilkinson’s voice shook slightly as he described to MEPs how money from the… Read More

11th May 2021

UK: Loan sharks target new victims via WhatsApp and Facebook

Local WhatsApp groups have been one of the silver linings of the pandemic, creating community ties and support networks. Yet loan sharks are increasingly using these groups to extort money from their victims, according to England’s Illegal Money Lending Team (IMLT), an organisation that prosecutes illegal lenders and… Read More

11th May 2021

Dubai Police arrest one of UK’s most-wanted fugitives

Dubai Police have arrested one of the UK’s most wanted fugitives after eight years on the run, after Interpol issued a Red Notice. Michael Paul Moogan, 35, from Liverpool in the UK, had been on the National Crime Agency-UK wanted list for his alleged role in a large-scale international drug… Read More

10th May 2021

JPMorgan Memo Warned $875 Million Nigeria Payment Was Graft Risk

JPMorgan Chase & Co. was warned by its compliance team over the “great risk” of corruption just days before it made the last of three transfers that totaled $875 million to a former Nigerian oil minister. The internal memo is set to be scrutinized in a London lawsuit brought… Read More

10th May 2021

Banking Is Center Stage as Iran Seeks Nuclear Deal That Delivers

Iran is pushing for its banking industry to be given guaranteed and conclusive sanctions relief at talks to restore the country’s nuclear deal with world powers. “The removal of sanctions against the central bank, Iranian banks, SWIFT, and any money transfer between them and major foreign correspondent banks, needs to… Read More

7th May 2021

U.K. Dishes Out First Fine to Broker Linked to Shah in Tax Scandal

The U.K.’s financial regulator handed down its first penalty over the Cum-Ex tax scandal, fining a broker 178,000 pounds ($248,000) for failings regarding its relationship with hedge-fund manager Sanjay Shah. Sapien Capital, which executed more than 6 billion pounds of trades in Danish and Belgian stocks on behalf of… Read More

6th May 2021

Germany’s Dolphin Trust was a pyramid scheme, causing devastation for investors

When it comes to German corporate fraud, Wirecard has been hogging the headlines for a while. But there’s another German company that has plummeted to Earth after a more than €1 billion hole emerged in its accounts. Except unlike with Wirecard, this was money that once… Read More

6th May 2021

The posh London address 4,000 firms call home

Aspiring entrepreneurs know that an impressive office address can be a powerful asset. Customers assume that if a business can afford to be based in an affluent area, it must be successful. But a Money Mail investigation today shows why you should think twice before trusting a grand-sounding location. Number… Read More

5th May 2021

U.K. Fraud Investigators Drop Probe of Individuals in Airbus Bribery Case

The U.K. prosecutor has closed an investigation into individuals over bribery at Airbus SE, according to a person familiar with the matter, after a settlement last year saw the planemaker pay a record $4 billion. Airbus reached a deal with British, French and U.S. prosecutors after a four-year… Read More

4th May 2021

Dirty cash: the rising threat of Chinese Underground Banking

Over the past few years, the problem of Chinese Underground Banking has grown exponentially across the globe including here in the UK, states the National Crime Agency (NCA). As a form of informal value transfer system (IVTS), Chinese Underground Banking is commonplace within the Chinese community. Involving the transfer of… Read More

Must Read

Next Hurdle in Treasury’s Corporate Transparency Push? Verification

FCA opens investigation into collapse of Greensill Capital

JPMorgan Must Turn Over U.S. Compliance Records in Nigerian Oil License Case: UK Court

How bell-ringers and a bowls team are among groups caught up in HSBC’s money laundering blitz

$100 million New Jersey deli: Ex-Trump tax lawyer owned shell company created by mystery investors