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New EU Prosecutor’s Office Takes Aim at 50-Billion-Euro-a-Year ‘Carousel Fraud’ Schemes

By Will Neal, OCCRP, 30 November 2020 OCCRP — OCCRP spoke with the head of the new European Public Prosecutor’s Office about the challenges in fighting the widespread — but often-ignored — criminal scheme. “No one’s interested in value-added tax. It’s just not sexy enough.” There’s an edge of… Read More

The public knew he was crooked in 2009. Big banks helped him stash millions until 2017.

By Will Fitzgibbon, ICIJ, 30 November 2020 ICIJ — JPMorgan Chase, America’s largest bank, helped move millions of dollars for a New Jersey con man long after he was first accused of ripping off customers looking for good deals on the used cars of their dreams. Many borrowed from… Read More

Silent victims: the hidden Romanian women exploited in the UK sex trade

Three weeks ago, police entered a brothel in south-east England after receiving intelligence about criminal activity there. Inside, they found eight Romanian women wearing face shields and masks, and laminated Covid-19 health and safety sheets on the wall. An industrial-size bottle of hand sanitiser stood by the front door. “On… Read More

1st December 2020

SBM Offshore Faces Swiss Probe Over Legacy Bribery Allegations

Oil-services firm SBM Offshore NV is facing an investigation by the Swiss government into bribery allegations that the company said it has already paid hundreds of millions of dollars to resolve in three other countries. Amsterdam-based SBM Offshore said Monday that three of its subsidiaries had received notice of… Read More

1st December 2020

Outside Monitors Urge Deutsche Bank to Quit Russia

Deutsche Bank AG executives want to expand in Russia despite a legacy of missteps and massive fines. Outside monitors who watch over the bank’s money-laundering controls said it should shut the business instead, according to a person familiar with the communications. The monitors, appointed by New York state’s Department of… Read More

1st December 2020

Australia: Criminals target poker machines in NSW amid pandemic

Money laundering during five months of COVID-19 restrictions drove a $305 million increase in poker machine profits – a spike that experts say shows the need for a gambling card. Latest figures from Liquor and Gaming NSW show profits increased more than 10 per cent compared to the same period… Read More

1st December 2020

Indonesian Fisheries Minister Edhy Prabowo arrested over alleged lobster corruption

Indonesia’s Fisheries Minister Edhy Prabowo faces up to life in jail after being arrested by the country’s Anti-Corruption Commission over lobster larvae export permits. The Anti-Corruption Commission, known by its Indonesian acronym KPK, arrested Mr Prabowo and his wife Iis Rosita Dewi as they arrived at Jakarta airport from the… Read More

1st December 2020

Mexico issues warrant for ex-security chief accused of aiding cartel

Mexico has issued an arrest warrant for a former security minister wanted on corruption charges and may request his extradition from the United States where he is being held awaiting trial, an official told Reuters. Ex-Security Minister Genaro Garcia Luna pled not guilty last month to U.S. charges involving a… Read More

1st December 2020

JPMorgan to Double Singapore Private Bankers for Rich Chinese

JPMorgan Chase & Co. plans to double the number of private bankers serving Chinese clients from Singapore over the next two years, signaling its ambition to tap growth from Asia’s second-largest wealth market. The U.S. bank currently has more than a dozen relationship managers serving Chinese residents and those on… Read More

1st December 2020

We’ve All Been Deceived. There is No War on Drugs.

By Robert Mazur, former U.S. Federal Agent and author of “The Infiltrator” Having been one of the soldiers in the war on drugs for 27 years, I must confess that I, my brothers and sisters on the front lines, the American public and the world’s communities have been deceived. A… Read More

30th November 2020

UK Crime Agency Reveals Progress of SARs Reform Programme

The UK’s NCA (National Crime Agency) has unveiled details of a project to reform the SAR (suspicious activity report) regime, amid a large increase in the number of submissions from financial institutions and other reporting entities. The NCA received over 570,000 SARs in the year to March 2020, an increase… Read More

30th November 2020

Britain urged to probe wealth of Russian family whose son had ‘world’s most expensive wedding’

It was perhaps the world’s most expensive wedding; an extravaganza costing tens of millions of pounds with performances by Jennifer Lopez, Sting and Enrique Iglesias, a fleet of Rolls Royces to ferry the guests and a 20-year-old bride wearing a $1m dress and a $5m crown. The groom, Said Gutseriev,… Read More

30th November 2020

Organized Crime Has a New Tool in Its Belts – Artificial Intelligence

By David Klein, OCCRP, 27 November 2020 OCCRP – As new technologies offer a world of opportunities and benefits in many sectors, so too do they offer new avenues and for organized crime. It was true at the advent of the internet, and it’s true for… Read More

Must Read

We’ve All Been Deceived. There is No War on Drugs.

The AML System: A Failure of Statecraft?

The FinCEN Files: Asking the Right Questions

FinCEN Files Confirm the Elephant in the Room

Fighting Trade-Based Financial Crime in a Global Pandemic