Featured USA

Study: Europe blows U.S. away in financial crime spending

A new report found financial institutions spent $181 billion on financial crime compliance worldwide last year, with European firms spending three to four times more than their counterparts in North America. The True Cost of Financial Crime Compliance Global Report, released Tuesday and compiled by LexisNexis Risk Solutions, estimated… Read More

U.S. to Block Iran’s Request to IMF for $5 Billion Loan to Fight Coronavirus

The U.S. plans to block Iran’s requested $5 billion emergency loan from the International Monetary Fund for funding Tehran says it needs to fight its coronavirus crisis. Senior officials in the Trump administration said Iran’s government has billion-dollar accounts still at its disposal. If allowed to tap IMF financing,… Read More

US prosecutors allege bribes in World Cup votes, charge former Fox execs in FIFA corruption probe

AP — Prosecutors revealed new details of alleged bribes paid to FIFA executive committee members to gain their votes for Qatar to host the 2022 World Cup and charged a pair of former 21st Century Fox executives with making illegal payments to win broadcast rights for the 2018 and… Read More
7th April 2020
AP — The Trump administration on Monday designated a Russian white supremacist group a terrorist organization and hit its members with sanctions. The move against the Russian Imperial Movement is the first time a white supremacist group has been named a “Specially Designated Global Terrorist” group and comes amid doubts… Read More
7th April 2020
The U.K. has joined the U.S. in resisting a plan by the Nigerian government to hand nearly $110 million of funds the American authorities say was stolen by late dictator Sani Abacha to a top ruling party official. The three governments are involved in a dispute over investment portfolios worth… Read More
7th April 2020
The Trump administration on Monday accused Iran of a scam in which it is trying to obtain sanctions relief for the coronavirus pandemic, which would enable Tehran to increase its spending on “terror operations”. Washington is ignoring calls from Iran to lift sanctions as the coronavirus cases there soar above… Read More
7th April 2020
The Financial Crimes Enforcement Network has issued updated guidance providing relief from certain disclosures and requirements to assist with Bank Secrecy Act compliance concerns amid the COVID-19 pandemic. FinCEN reminded financial firms of their obligations in a statement Friday but granted leniency on two key requirements related to currency… Read More
6th April 2020
By Anuška Delić and Matej Zwitter, OCCRP, 3 April 2020 OCCRP — In recent weeks, Slovenia has introduced strict controls on movement and gatherings, while approving tens of millions of euros worth of bids under emergency measures that bypass open tender measures. In just the last week of March, the government… Read More
6th April 2020
A shadowy Hezbollah intelligence operative in Iraq has close ties to what the US refers to as a key money-laundering network by the Islamic Revolutionary Guard Corps’ Quds Force, an investigation by The National has found. In November 2018, the US sanctioned Mohammad Abd Al Hadi Farhat, saying the Lebanese… Read More
6th April 2020
The U.S. Treasury Department on Friday extended its authorization for companies to do business with Sweden’s Nynas, giving the oil refiner more time to restructure its ownership to avoid American sanctions on Venezuela. The department, in a notice on its website, extended the general license authorizing certain activities involving Nynas… Read More
6th April 2020
By Will Neal, OCCRP, 3 April 2020 OCCRP — Authorities in Mexico have frozen several financial accounts that may have been used by the notorious Sinaloa Cartel to launder drug money. The Associated Press (AP) reported on Tuesday that the country’s financial intelligence unit, Unidad de Inteligencia Financiera Mexico… Read More
3rd April 2020
The Financial Action Task Force (FATF) has labeled the United States’ steps against money laundering and terror financing with digital currencies as “largely compliant.” In a report published on Tuesday, the intergovernmental evaluated the country’s measures for anti-money laundering (AML) and counter-terror financing (CTF) in areas across the digital… Read More
3rd April 2020
A Russian state-owned fund that says it footed half the bill of a coronavirus aid shipment delivered to the U.S. on Wednesday has been on a U.S. Treasury restricted lending list since 2015. The Russian Direct Investment Fund, a $10 billion sovereign-wealth fund started by Russian President Vladimir Putin in… Read More