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Malta: Nexia BT gets new licence despite Panama scandal

Panama Papers firm Nexia BT has been given a new licence requiring “high standards of conduct and compliance” to audit the internal IT systems and protocols of high-risk entities like cryptocurrency exchanges. Nexia BT Technology, a Nexia BT offshoot company, was certified as meeting these standards by the Malta Digital… Read More

Swiss launch impeachment process against attorney general over FIFA conduct

Switzerland has moved closer to removing Attorney General Michael Lauber from office after a parliamentary panel launched impeachment proceedings against the top Swiss prosecutor relating to his probe of corruption in world soccer. The judicial committee voted on Wednesday 13 to 4 to move against Lauber “on suspicion of serious… Read More

Italian police nab mafiosi to thwart pandemic exploitation

AP — Italian police have arrested 91 suspected mobsters in a probe of money-laundering and extortion in a bid to thwart Sicily’s Cosa Nostra from exploiting economic woes triggered by the pandemic. Hundreds of Financial Guard police officers fanned out early Tuesday through Palermo, the alleged crime clans’ power power… Read More
1st May 2020
Bank Hapoalim agreed to pay $874 million to settle U.S. charges that it conspired with American taxpayers to hide more than $7.6 billion in secret Swiss and Israeli accounts, federal prosecutors said, the second-biggest settlement in a decade-long crackdown on offshore tax evasion. The Swiss unit of the bank,… Read More
1st May 2020
Fifa is preparing to press the authorities in Switzerland to prosecute Sepp Blatter for alleged corruption, after the Swiss attorney general dropped part of its investigation despite police reports listing years of apparent gifts and payments provided to the then vice-president, Jack Warner, in return for votes for Blatter… Read More
28th April 2020
A corruption case involving a payment connected to Germany’s bid for the 2006 World Cup is set to be dropped because too much time has passed since the alleged offence. The Swiss federal criminal court is expected to confirm today that charges against four former football officials will be dropped… Read More
14th April 2020
The disgraced Fifa executive Jack Warner visited Vladimir Putin at the Kremlin less than a week before an alleged multimillion-dollar bribery scheme was initiated by Russia to buy his vote in the competition to host the 2018 World Cup. The Trinidad and Tobago official is alleged to have been paid… Read More
13th April 2020
Days after the U.S. Department of Justice unveiled more details in a case that has shined a light on decades-long corruption at the heart of soccer, the Swiss authorities have confirmed that they plan to drop one of two cases against Sepp Blatter, a former president of FIFA, the… Read More
26th March 2020
Pilatus Bank was a “money transfer operation” rather than an ordinary bank providing investment corporate and retail services to high net individuals, according to the bank’s administrator Lawrence Connell. The former US financial regulator reached his conclusion in his first six-month report covering up to August 2018, which was only… Read More
25th March 2020
The misuse of legal structures for illicit activities has been the subject of intense global scrutiny since the release of the Panama Papers in April 2016 and the Paradise Papers in November 2017. Since then, the requirements around the identification of the UBOs (ultimate beneficial owners) of legal entities have… Read More
12th March 2020
Regulators hit banks with a near record $10 billion worth of fines in a 15 month period through 2019, and the figure is expected to increase in 2020. That’s according to a new report from Fenergo, a European startup that makes software to help financial institutions detect illegal transactions. Read More
10th March 2020
Anyone who experienced it will still remember the euphoria that gripped Germany at the time. Brilliant weather, full stadiums and the triumphant public viewings in squares, streets and pubs across the land. The fact that the German team failed to win the tournament hardly dampened the mood. From then on, June and July… Read More
5th March 2020
A record number of footballers, clubs and agents in England are being investigated over tax payments. HM Revenue & Customs (HMRC) is investigating the tax affairs of 330 footballers, 55 clubs and 80 agents, up from 173 players, 40 clubs and 38 agents in January 2019. HMRC said it had… Read More