Featured USA

Western Advisers Helped An Autocrat’s Daughter Amass And Shield A Fortune

Pausing at the entrance to a star-studded bash at the Cannes Film Festival, ’90s icon Sharon Stone flashed her one-of-a-kind cuff bracelet. It was a wraparound hippo with rubies for eyes, sapphire nostrils and white diamond teeth. Its body was covered in brown, gray and white diamonds. The dazzling ornament… Read More

HSBC aware of Huawei’s ties with Iran unit before arrest of founder’s daughter, documents show

The Canadian extradition proceedings of Huawei Technologies chief financial officer Meng Wanzhou hinge on allegations she made a fraudulent presentation to HSBC in 2013 over the technology giant’s business ties in Iran, but recently revealed documents show the bank had been aware of Huawei’s business relationships in the Middle Eastern… Read More

PayPal offers up financial data to combat human trafficking

PayPal Holdings Inc will share its financial data with a leading advocacy group in the United States to try and stop human traffickers from moving funds on the digital money transfer platform. Human traffickers often force people into modern slavery which generates around $150 billion a year in illegal profits,… Read More
17th January 2020
The U.S. Treasury Department said on Thursday it will allow for a 90-day period to wind down transactions in certain sectors of Iran’s economy hit with fresh U.S. sanctions last week. The period, good through April 9, allows transactions in the construction, mining, manufacturing or textiles sectors of Iran’s economy… Read More
16th January 2020
Eight years ago, Goldman Sachs Group Inc. bankers sold bonds on behalf of a little-known Malaysian investment fund. On Wednesday, the fallout from that deal wiped out about 13% of the bank’s 2019 profits and darkened otherwise strong results. Goldman socked away an extra $1.1 billion late last year… Read More
16th January 2020
A lawsuit filed Wednesday by the top law enforcement officer in the U.S. Virgin Islands alleges that multimillionaire financier Jeffrey Epstein sexually trafficked hundreds of young women and girls on his private island, some as recently as 2018, aided by a web of shell companies to carry out and conceal… Read More
15th January 2020
The new year promises to be an interesting one in white-collar crime. Goldman Sachs is negotiating with the Justice Department to pay a penalty of about $2 billion for its role in the 1Malaysia Development Berhad scandal, known as 1MDB. Accounting fraud became a particular focus of the Justice… Read More
15th January 2020
The Trump administration has sanctioned Venezuelan officials including lawmaker Luis Parra after their failed attempt last week to forcibly seize control of the opposition-led National Assembly. Venezuela’s embattled president, Nicolas Maduro, attempt to forcibly install Parra as the new National Assembly chief on Jan. 5 while the military… Read More
14th January 2020
Family members and close associates of Mihajlo Perenčević, a wealthy Croatian businessman with ties to Russian President Vladimir Putin, received millions of dollars from Russia under the guise of fictitious real estate purchases. The funds were deposited in the recipients’ personal bank accounts in Austria, thereby possibly evading Croatian money… Read More
14th January 2020
A former U.S. Treasury official pleaded guilty Monday to illegally leaking highly confidential documents about suspicious financial transactions of ex-Trump campaign chief Paul Manafort and others to reporters at BuzzFeed News. The official, Natalie Mayflower Sours Edwards, leaked so-called suspicious activity reports, or SARS, starting in October 2017 about Manafort,… Read More
14th January 2020
In the years since South Sudan declared independence in 2011, the U.S. has been its principal backer, supporting the government of the world’s newest nation despite its wars, rights abuses and corruption. Now, with the threat of famine looming after a series of missed deadlines for the country’s warring factions to form a unity government,… Read More
13th January 2020
Should banks be forced to accept a client who could be on the wrong side of the law? A court in Finland is about to decide the answer to that question, and its verdict may have far-reaching implications. Russian billionaire Boris Rotenberg is suing four Nordic banks for not doing… Read More
13th January 2020
At Danske Bank A/S, the cost of adapting to a world intensely focused on financial crime just keeps growing. In an interview in Stockholm, the chief executive of Danske in Sweden, Johanna Norberg, said “the peak” level of investment to meet anti-money laundering requirements has “not yet been reached.”… Read More