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Ex-Swiss banker convicted for selling secret tax data to Germany

A former UBS (UBSG.S) banker accused of selling information about wealthy German tax evaders to German authorities was convicted of economic espionage by a Swiss court on Monday. Rene S., as the 45-year-old ex-banker was called during court proceedings, was sentenced to 40 months in prison and must pay fines… Read More

French watchdog slaps Google with $57M fine under new EU law

AP — France’s data privacy watchdog fined Google 50 million euros ($57 million) on Monday, the first penalty for a U.S. tech giant under new European data privacy rules that took effect last year. The National Data Protection Commission said it fined the U.S. internet giant for “lack of transparency,… Read More

German banking regulator calls for better coordination, ‘urgent’ action in anti-money laundering

The president of German financial watchdog BaFin has urged firms to treat the fight against money laundering as a ‘very high priority,’ and called for better coordination in Europe to tackle the crime. In a recent speech, BaFin chief Felix Hufeld referred to reports of suspected cases of money laundering… Read More

22nd January 2019

Europe’s patience with Iran wears thin, tiptoes towards Trump

In Tehran on Jan. 8 during a meeting with European envoys, Iranian officials abruptly stood up, walked out and slammed the door in an extraordinary break with protocol. The French, British, German, Danish, Dutch, and Belgian diplomats in the Iranian foreign ministry room had incensed the officials with a message… Read More

22nd January 2019

Seriously attacking real money laundering; A simple solution to a complicated problem

By Robert Mazur Testimony in the ongoing New York federal trial of “El Chapo” Guzman offered a repeat of facts heard in hundreds of similar trials since the prosecution of Al Capone. Despite that blaring reminder, governments, including the one now prosecuting El Chapo, appear to turn a deaf… Read More

22nd January 2019

Germany bans Iranian airline from its airspace after U.S. pressure

Germany has revoked the licence of an Iranian airline because it has been transporting military equipment and personnel to Syria and other Middle East war zones, the foreign ministry said on Monday, after heavy U.S. pressure on Berlin to act. The United States imposed sanctions on Mahan Air in 2011,… Read More

22nd January 2019

UK: Firm laundered cocaine dealers’ cash through buying property; assets seized

Britain’s National Crime Agency (NCA) has seized a property worth £1.7 million from a Staffordshire-based woman who, with her firm, used money from drug dealers to purchase a number of properties. A Civil Recovery Order by Consent was made at the High Court in London on 14 January, leading to… Read More

22nd January 2019

Trump-Deutsche Bank links in sights of U.S. House investigators

Democrats now in control of the U.S. House of Representatives are working out which House panels will take the lead in investigating President Donald Trump’s business ties to Deutsche Bank, lawmakers and aides familiar with the plans told Reuters. As the new Democratic House of Representatives majority launches a range… Read More

21st January 2019

Arrested Portuguese hacker is Football Leaks ‘whistleblower’ – lawyers

A Portuguese man arrested in Hungary on suspicion of extortion and secrecy violations hacked football bodies’ documents – which later appeared on the Football Leaks website – because he was “outraged” by criminality in the sport, his lawyers said. The man, named by his lawyers as 30-year-old Rui Pinto, was… Read More

21st January 2019

Report: Facebook’s privacy lapses may result in record fine

AP – Facebook may be facing the biggest fine ever imposed by the U.S. Federal Trade Commission for privacy violations involving the personal information of its 2.2 billion users. The FTC is considering hitting Facebook with a penalty that would top its previous record fine of $22.5 million , which… Read More

21st January 2019

Daily bitcoin transactions on darknet markets doubled throughout 2018: report

Use of bitcoin as a form of payment doubled in 2018 on darknet market sites, where users can buy anything from illegal drugs to fake IDs, even though the price of the cryptocurrency crashed, according to a study by data firm Chainalysis. Bitcoin transaction volumes on darknet markets rose throughout… Read More

21st January 2019

Danske Bank faces €28 million money laundering probe in France

French authorities are considering launching an investigation into scandal-hit Danske Bank over violating anti-money laundering rules involving transactions worth millions of euros. In recent days, the French Tribunal de Grande Instance de Paris Court issued Danske with a letter summoning it to an interview to discuss matters relating to an… Read More

20th January 2019

Malaysia open to talks if Goldman pays $7.5 billion, minister says

Malaysia’s finance minister said on Friday the government would be ready to discuss dropping criminal charges against Goldman Sachs (GS.N) linked to the 1MDB scandal if the bank pays $7.5 billion in reparations. Goldman Sachs is being investigated by Malaysian authorities and the U.S. Department of Justice for its role… Read More

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