10th February 2020
A German businessman charged with evading U.S. taxes as part of an investigation sparked by a trove of leaked documents known as the Panama Papers will plead guilty, federal prosecutors said. Harald Joachim von der Goltz, a former U.S. resident who was indicted along with three others in 2018… Read More
5th February 2020
Germany’s top financial regulator says banks are well prepared for Brexit, until you look at their list of clients. While many details of the U.K.’s future relationship with the European Union remain unclear, global banks have already set up units in the bloc to retain access to those markets. Read More
4th February 2020
Brexit is complete-ish and the United Kingdom has moved into the transition period of its departure from the European Union at the end of the year. Companies with UK sanctions obligations will still be required to follow EU policies through December 31st, and even then, differentiations between OFSI lists… Read More
3rd February 2020
Art has come a long way from the more than 70,000-year-old drawings in the Blombos Cave of South Africa to, in perhaps its most “postmodern” iteration, its appearance in the EU’s 5th Anti-Money Laundering Directive (5AMLD), which was to be implemented earlier this month.  With sales in the global… Read More
29th January 2020
Airbus faces a record $4 billion fine and lower 2019 profits after unveiling a preliminary deal with French, British and U.S. authorities following a crippling three-year probe into allegations of bribery and corruption over jetliner sales. The deal, believed by anti-corruption experts to be the largest ever in a bribery… Read More
6th January 2020
A €100,000 transaction between Keith Schembri and his auditor Brian Tonna was “crazy” and should never have been allowed to take place, a former Pilatus Bank non-executive director told the Egrant inquiry. The transaction, a suspected kickback on passport sales, has been the subject of a criminal inquiry since April… Read More
3rd January 2020
Two executives and a Swiss firm linked to shell companies in the Panama Papers data leak were charged in the U.S. with scamming investors in pump-and-dump schemes. Blacklight SA and the executives bought shares of small publicly traded companies and then publicized false information such as pending merger deals, prosecutors… Read More
16th December 2019
The U.K. capital’s financial center cheered Boris Johnson’s emphatic election victory for alleviating the Brexit uncertainty that has hung over the British economy’s key engine for 3½ years. Banks and financial firms have been preparing for a disruptive Brexit, collectively spending billions of pounds to protect themselves, while also… Read More
6th December 2019
Credit Suisse Group AG has acted to block Geneva prosecutors from using details of a critical report by the country’s financial regulator into the bank’s failure to prevent fraud at its wealth management unit. The bank asked Geneva prosecutor Yves Bertossa to seal the report, which he is legally… Read More
22nd November 2019
“At the moment, money is still winning,” says Gerard Ryle, director of the International Consortium of Investigative Journalists (ICIJ) in response to a question on whether money or truth is more powerful.  But that’s not to say financial crooks are particularly comfortable in the age of data leaks,… Read More