Malaysian police on Wednesday said they seized cash, jewellery, handbags and watches worth up to 1.1 billion ringgit (206 million pounds) from six premises linked to former Prime Minister Najib Razak in raids carried out in May. Amar Singh, the head of the police commercial crime division, said in a… Read More
Financial crime staff should be alert to action taken by regulators in other parts of the financial services industry. The Financial Conduct Authority’s (FCA) Final Notice against Interactive Brokers UK (IBUK), which attracted a fine of £1,049,000, is a case in point. The issue is also of importance because… Read More
Susan has been making her living from crime for over twenty years. She provides anti-money laundering training and advice to the regulated community in the UK, Guernsey, Jersey, the Isle of Man and Gibraltar, and writes and talks on the subject at every opportunity. As her hobby she writes… Read More
The tenants in buildings 6-9 of the prestigious Europort complex in Gibraltar might be surprised to learn that, until recently, their offices were owned indirectly by a close relative of Syrian dictator Bashir al Assad. They might be even more surprised to learn that ownership is soon expected to pass… Read More
With the rise and rise of e-commerce comes the rise and rise of the e-criminal. Cybercrime is now the world’s fastest growing crime. It has leapt to number two of the top ten business risks worldwide, from not even appearing in that list five years ago. For certain countries, cyberattack… Read More
AP — All North Korean leader Kim Jong Un really needed from his unprecedented summit with U.S. President Donald Trump on Tuesday was to keep his nuclear arsenal intact for the time being and get a decent handshake photo to show he has truly arrived on the… Read More
Sanctions, whether targeted or comprehensive, are designed to restrict and influence governments from supporting bad actors. Yet with every expansion to these programs, sanctioned entities appear bolder in their efforts and creativity to evade. In 2017, OFAC recorded over $119 million in civil penalties and settlements aggregated from sixteen different… Read More
Legal expert and author of ‘Asset Forfeiture Law in the United States’ Stefan Cassella examines a recent judgement in which the court found that circumstantial evidence, including structuring money order transactions and the use of names of defendant’s friends and relatives, is sufficient to establish that the defendant was aware… Read More
Anastasia Nesvetailova, City, University of London Russian “dirty money” is a security threat to the UK, according to a report called “Moscow’s Gold”, just published by a committee of members of parliament. The threat is based on the argument that London has been harbouring flows of Russian… Read More
The fallout from the alleged $500 million attempted fraud involving the National Bank of Angola and a HSBC bank account in the UK was quite dramatic, and now allegations of funds mismanagement have ignited a financial crime investigation that has quickly spread across four countries, and shows no signs of… Read More