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Secret guilty plea revealed in US Panama Papers criminal probe

By Will Fitzgibbon, ICIJ, 5 March 2021 ICIJ — A third person has pleaded guilty to financial crimes as part of a probe sparked by the Panama Papers investigation, newly released court documents show. The unexpected guilty plea by Joachim Alexander von der Goltz was… Read More

Credit Suisse Missed Many Warnings Before Greensill’s Collapse

Long before Credit Suisse Group AG was forced to wind down a $10 billion group of funds it ran with financier Lex Greensill, there were plenty of red flags. Executives at the bank knew early on that a large portion of the assets in the funds were tied to… Read More

John McAfee charged with fraud over alleged cryptocurrency scheme

John McAfee, the antivirus software pioneer whose former company still bears his name, has been indicted on fraud and money laundering conspiracy charges stemming from two cryptocurrency schemes, the US Department of Justice said on Friday. Authorities accused McAfee and his bodyguard, Jimmy Gale Watson Jr, of exploiting McAfee’s large… Read More

8th March 2021

U.S. Bars Ukrainian Banking Tycoon Over Corruption Allegations

The Biden administration on Friday imposed sanctions on a Ukrainian banking tycoon and former public official and his family for alleged corruption, marking a renewed effort by the U.S. to help Kyiv address a problem that finance officials say is at the heart of the country’s economic and political woes. Read More

8th March 2021

Bitcoin Storm Brewing Over Trump’s Anti-Money Laundering Push

The Biden administration will soon have to settle a Bitcoin fight it didn’t even start, and its decision could have far-reaching implications for the virtual currency industry. The battle concerns last-minute rules proposed by the outgoing Trump administration that would create new requirements for financial services firms to record the… Read More

8th March 2021

Crime rise warning over new £100 contactless payment limit

An increase in the contactless payment limit to £100 may cause an surge in thefts and fraud, figures working in banking and finance have warned. The amount that people can spend on “tap and go” cards is currently limited to £45 but is set to more than double to a… Read More

8th March 2021

Plots of Amazon Rainforest Illegally Sold on Facebook

A new investigation has revealed how large swathes of Brazil’s Amazon rainforest are being illegally sold on Facebook, with some listings advertising plots as large as 1,000 football fields. The plots being sold include national forests and indigenous reserves, and most of the ads came from the northern state of… Read More

5th March 2021

U.S. blocked Myanmar junta attempt to empty $1 billion New York Fed account

Myanmar’s military rulers attempted to move about $1 billion held at the Federal Reserve Bank of New York days after seizing power on Feb. 1, prompting U.S. officials to put a freeze on the funds, according to three people familiar with the matter, including one U.S. government official. The transaction… Read More

5th March 2021

Jersey trust company fined $835,000 for opening ‘gateway to possible money laundering’ in Angola

By Will Fitzgibbon, ICIJ, 4 March 2021 ICIJ — A court in the Channel Islands has fined a team of accountants and economists who for years ignored “obvious” risks of possible corruption and embezzlement when providing services to an investment management company working with the government… Read More

5th March 2021

UBS May Use Money-Launderer Case to Appeal $5.4 Billion Penalty

Just over two years ago, UBS Group AG got a nasty shock when a Paris judge handed it a record $5.4 billion penalty for helping French clients avoid taxes. As the Swiss bank returns to the French capital on Monday for a three-week long appeal, its team of lawyers… Read More

5th March 2021

U.S., U.K. Weigh More Russia Sanctions, Possibly Targeting Debt

The U.S. and U.K. are weighing additional penalties against Russia over the use of chemical weapons, with options ranging from sanctions against oligarchs to the extreme step of targeting the nation’s sovereign debt, according to people familiar with the matter. British officials plan to push for the Organisation for the… Read More

5th March 2021

U.S. Weighs Sanctions Against Lebanon Central Bank Chief

The U.S. is considering sanctions against Lebanon’s long-serving central bank chief as a broader investigation into the alleged embezzlement of public funds in the country gathers pace, according to four people familiar with the matter. Officials within the Biden administration have discussed the possibility of coordinated measures with their European… Read More

5th March 2021

Hong Kong authorities freeze HK$900 million in crackdown on ‘ramp and dump’ scam

More than HK$900 million (US$116 million) in suspected crime proceeds has been frozen in an unprecedented joint crackdown by Hong Kong police and stock regulators against so-called “ramp and dump” online investment scams, the Post has learned. Twelve Hongkongers – seven men and five women – were arrested over the… Read More

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