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U.S. sanctions Iran’s central bank, fund after Saudi oil attack

The United States on Friday imposed another round of sanctions on Tehran, including on Iran’s central bank and a development fund, following last week’s attacks on oil facilities in Saudi Arabia that Riyadh and U.S. officials have blamed on Iran. President Donald Trump outlined the action to reporters at the… Read More

Pilatus transaction investigation sent to police

Malta’s financial regulator and the Financial Intelligence Analysis Unit have completed a lengthy “transaction-by-transaction” review at Pilatus Bank, and presented its findings to the police. The extensive review had been launched by both the MFSA and the FIAU before the US indictment of Ali Sadr Hasheminejad on charges of breaching sanctions… Read More

Why Venezuelan money is no longer welcome in Switzerland

Swiss banks have joined the US sanctions against Venezuela, meaning the South American country’s diplomatic missions in Bern and Geneva are running out of funds to do their work and pay their staff. “We’re in a situation of financial impotence,” complains César Méndez, the Venezuelan ambassador in Bern. The embassy’s… Read More

23rd September 2019

TD Took Epstein Money After Deutsche Bank Kicked Out Felon

After another global bank cut off convicted pedophile Jeffrey Epstein, his wealth found a home at Toronto-Dominion Bank. The Canadian lender accepted accounts belonging to Epstein earlier this year after Deutsche Bank AG severed ties with the disgraced financier, according to a person with knowledge of the matter. The… Read More

23rd September 2019

Delaware Targets Shell Firm That Made Stormy Daniels Payment

Delaware’s top law-enforcement official is taking aim at shell companies formed under the state’s popular corporate laws to help funnel hush money to a porn star linked to President Donald Trump and move drug funds for Colombian revolutionaries. Attorney General Kathy Jennings filed papers Thursday seeking to dissolve… Read More

23rd September 2019

Anti-fraud training: New steps to curb financial crime

Dubai: Employees of over 100 exchange houses in the UAE will undergo training to curb financial crimes in the banking sector, following an agreement with Dubai Police and the UAE’s Foreign Exchange and Remittance Group (FERG). Major General Khalil Ebrahim Al Mansouri, assistant commander-in-chief of criminal investigation affairs, Dubai Police… Read More

23rd September 2019

Tanzanian leader suggests amnesty for financial crimes

Tanzania’s president said on Sunday people held on charges of tax evasion, money laundering and other financial crimes should be freed if they confess and return the cash. John Magufuli said it was only a recommendation – and it was not immediately clear what impact his words would have on… Read More

23rd September 2019

Latvia criticized for choosing banker to police banks

Latvia’s appointment of a banker to supervise the sector is threatening a conflict of interest, Transparency International said on Friday, following a series of financial scandals in the Baltic state. Government officials this week announced that they had chosen Santa Purgaile, a board member with Citadele Bank CBLBR.RI, Latvia’s fourth-largest… Read More

23rd September 2019

Anti-money laundering laws costing real estate industry ‘multi-millions’

The cost of implementing a raft of new laws has cost the real estate industry tens of millions of dollars, the Real Estate Institute says. A survey of 1861 real estate professionals around the country found 59 percent cited changing regulation as their top concern, whereas two years ago it… Read More

23rd September 2019

Privacy Coins Face Existential Threat Amid Regulatory Pinch

The subset of digital assets dubbed privacy coins, which have long delighted libertarians and frustrated law enforcement, are feeling the pinch of a step up in regulation. Cryptocurrencies such as Monero, Zcash and Dash, which can to varying degrees obfuscate transactions, are making it harder for exchanges and custodians to… Read More

20th September 2019

Lebanon’s Jammal Trust Bank forced to close by U.S. sanctions

Lebanon’s Jammal Trust Bank has been forced to wind itself down after being hit last month by U.S. sanctions for allegedly helping to fund the Iran-backed Hezbollah movement, the bank said on Thursday. The central bank said the value of the bank’s assets, and its share of the national deposit… Read More

20th September 2019

Foreign Investors Fueled Violence and Corruption in South Sudan, Report Finds

A cabal of ruling elites and warlords in South Sudan have been propped up by a complex and global web of corruption that includes would-be American arms dealers, British business tycoons, and Chinese oil giants, according to a new report released on Thursday. The report, released by the Sentry,… Read More

20th September 2019

US helping Venezuela’s Guaido track stolen art

AP — U.S. officials are investigating the suspected looting of valuable European and Latin American artwork they believe is being quietly plundered by Venezuelan government insiders as Nicolas Maduro struggles to maintain his grip on power. The U.S. Treasury in recent months has sought the cooperation of the… Read More

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