15th October 2020
U.S. unemployment claims, which have surged during the coronavirus pandemic, are amplifying a compliance risk for financial institutions: unemployment insurance fraud. The Treasury Department’s Financial Crimes Enforcement Network issued an advisory Tuesday, alerting banks to red flags that could indicate illicit activity, including emerging schemes exploiting vulnerabilities created by the… Read More
15th October 2020
By Will Fitzgibbon and Mago Torres, ICIJ, 13 October 2020 ICIJ — No, this former vice president cannot have his seven planes back. In May, the International Criminal Court ruled that Jean-Pierre Bemba Gombo, former vice president of the Democratic Republic of Congo, will not be compensated for spending… Read More
14th October 2020
AP – An anti-corruption watchdog on Tuesday ranked the United States and United Kingdom as the largest exporters most active at enforcing rules meant to prohibit companies from paying bribes in foreign markets, but said many others are doing next to nothing. Berlin-based Transparency International said only four of… Read More
14th October 2020
While the world looks to next month’s U.S. election for clues on the future of the standoff with Iran, candidates are preparing for another vote that may prove just as pivotal. Next June, Iranians will also elect a new president, as the era of Hassan Rouhani, who staked… Read More
13th October 2020
By Ignacio Rodríguez Reyna, Zorayda Gallegos and Silber Meza, Quinto Elemento Lab and CONNECTAS via OCCRP, 9 October 2020 Insight Crime – As drug traffickers’ bank of choice for many years, HSBC allowed its services to be used as a conduit for money laundering. The US and Mexican governments… Read More
13th October 2020
Hong Kong’s trading and manufacturing firms could have a more difficult time in the coming months if the United States were to impose sanctions on banks, the city’s business leaders warned on Sunday. But local lawmakers and business leaders also questioned whether US President Donald Trump would roll out such… Read More
13th October 2020
Hong Kong’s homegrown investment bankers are rapidly losing their status as the city’s go-to dealmakers, supplanted by mainland Chinese rivals who now hold a majority of senior jobs in Asia’s biggest financial hub. While the shift has long seemed inevitable given the expanding pool of mainland talent and dominant role… Read More
12th October 2020
The United States on Friday imposed sanctions on two Nicaraguan officials and a financial institution in the latest effort by Washington to put pressure on the leftist government of Nicaraguan President Daniel Ortega. The U.S. Treasury Department in a statement said it blacklisted Nicaraguan Attorney General Ana Julia Guido De… Read More
12th October 2020
Recent settlements with JPMorgan Chase & Co. and others underscore the need for investment banks to ensure the surveillance tools they use to detect misconduct by traders are effective. JPMorgan last week agreed to pay a cumulative $920 million in a series of settlements with U.S. authorities over… Read More
9th October 2020
The United States on Thursday slapped fresh sanctions on Iran’s financial sector, targeting 18 banks in an effort to further choke off Iranian revenues as Washington ramps up pressure on Tehran weeks ahead of the U.S. election. The move freezes any U.S. assets of those blacklisted and generally bars Americans… Read More