Latest News

China anti-corruption hunt catches ‘tiger’ official

China’s anti-graft watchdog has launched an investigation into the former top official of the central province of Shaanxi, the latest “tiger” to be ensnared in President Xi Jinping’s crackdown on corruption. Since taking office in 2012, Xi has waged a multi-year war on graft, which he has pledged not to… Read More

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

Terror financing: UK man claims Syria cash was for brother’s ‘medical advice’

A British man has been jailed for allegedly sending funds to his brother who travelled to Syria in order to help establish an Islamic state. Sheffield-based Abdurahman Kaabar admitted sending money to his brother but denied knowing or suspecting it might be used to fund terrorism. Instead, he claimed… Read More
17th January 2019
A 92-year-old woman who defrauded the Belgian tax authorities of millions of euros over many decades was spared jail on Wednesday but must pay over 4 million euros in fines and back taxes. Branded by prosecutors as “maniacal” about managing her money, the woman named only as Betty W., won… Read More
17th January 2019
European Union finance ministers are set to put on hold a plan to strengthen the bloc’s financial watchdogs, as some states led by Luxembourg oppose ceding their national powers to supervise money managers, according to EU officials and documents. The reform, proposed by the EU executive commission in 2017, was… Read More
17th January 2019
Someone asked me how I won an internal award or recognition for my compliance work at the bank where I worked, and I am pleased to share my little adventure. My story goes back to when I arrived at the glossy reception area of a smart block of offices. It… Read More
17th January 2019
Goldman Sachs Group Inc (GS.N) Chief Executive Officer David Solomon (pictured) on Wednesday apologised to the Malaysian people for former banker Tim Leissner’s role in the sovereign wealth fund 1MDB scandal, but said the bank had conducted due diligence before every transaction. Goldman is being investigated by Malaysian authorities and… Read More
17th January 2019
The European Commission (EC) has handled money laundering issues regarding Malta disproportionally compared to Latvia, which had a ‘much more serious case,’ according to EU lawmaker and former Maltese prime minister Alfred Sant. Malta has been in the spotlight over a number of money laundering and corruption issues in recent… Read More
17th January 2019
Accused Mexican drug lord Joaquin “El Chapo” Guzman once paid a $100 million bribe to former Mexican President Enrique Pena Nieto, an ex-Guzman associate testified on Tuesday that he previously told U.S. authorities. Alex Cifuentes, who has described himself as Guzman’s onetime right-hand man, discussed the alleged bribe under cross-examination… Read More
16th January 2019
AP — Treasury Secretary Steven Mnuchin is urging senators to vote against a Democratic resolution that would maintain sanctions on companies linked to Russian oligarch Oleg Deripaska [pictured]. Mnuchin met with Republican senators behind closed doors Tuesday in the hours before a planned Senate vote on… Read More
16th January 2019
Britain’s financial watchdog has dropped a criminal probe into Credit Suisse related to an alleged fraud in Mozambique, but is still checking the bank and individuals for any breaches of conduct rules, the watchdog said on Tuesday. In 2016, the Financial Conduct Authority (FCA) launched an investigation into the Swiss… Read More
16th January 2019
AP — British lawmakers overwhelmingly rejected Prime Minister Theresa May’s divorce deal with the European Union on Tuesday, plunging the Brexit process into chaos and triggering a no-confidence vote that could topple her government. The defeat was widely expected, but the scale of the House of… Read More
16th January 2019
The United States is not looking to grant more waivers for Iranian oil imports after the reimposition of U.S. sanctions, the U.S. special representative for Iran said on Saturday, underlining Washington’s push to choke off Tehran’s income. “We are not looking to grant any waivers or exemptions to the import… Read More