19th September 2019
Automation and artificial intelligence are transforming the payments industry into one of the most dynamic sectors of transaction banking. But there are still many teething problems in an industry that has been catapulted onto centre stage. Doing business in Sudan isn’t easy, but back in 2011, it should have been… Read More
19th September 2019
Members of South Africa’s controversial Gupta family have long been implicated in a series of corrupt political connections and illegal deals that have earned them millions, often in government funds. The influence of the family, now reportedly in exile in Dubai, is so all-pervasive that the affair is widely known… Read More
19th September 2019
Criminals are recruiting a rising number of teenagers to act as money mules to help them launder the proceeds of crime. The number of cases of 14 to 18-year-olds who have allowed their bank accounts to be used to divert funds has grown by 73% in two years. Banks are… Read More
19th September 2019
Notorious Albanian gangs in the UK have a new trick up their sleeves. They are using cryptocurrencies for money-laundering operations, and it’s making life hard for the police. Albanian gangs have been heavily implicated in the UK’s cocaine market, a business estimated to be worth around £5bn ($6.23bn) annually. The… Read More
19th September 2019
A Sri Lankan parliamentary panel will investigate an allegation of corruption against a Chinese company contracted to work on the construction of South Asia’s tallest tower. President Maithripala Sirisena made the allegation at the inauguration on Monday of the 356-meter Lotus Tower, which overlooks Beira Lake in Colombo, sparking a… Read More
19th September 2019
A B.C. company set up by Mexican businessmen was used to launder millions of dollars of criminal proceeds, the Canada Border Services Agency alleges in Federal Court documents. The CBSA interviewed one of the men it claims is involved, Sergio Antonio Reyes Garcia, on March 3, 2019 when he arrived… Read More
19th September 2019
The insurance industry is open to abuse by criminals, including money launderers and terrorist financiers. Fraud and financial crime in the insurance space has risen sharply in recent years. According to PwC’s 2018 Global Economic Crime Survey, 62 percent of respondents from the global insurance community said their firms had… Read More
18th September 2019
Swedbank (SWEDa.ST) has moved to end a spat with one of the authorities investigating possible money laundering at the bank’s Estonian business by granting permission for it to interview the lawyer who carried out an internal probe into the allegations. The Swedish lender fired its CEO and its… Read More
18th September 2019
Members of the European Parliament could summon the head of the EU’s banking watchdog after one of its senior official agreed to join a lobby group for Europe’s financial sector, the Financial Times reported Tuesday.  Adam Farkas, who has served as the European Banking Authority’s executive director since… Read More
18th September 2019
AP — Jailed media magnate Nabil Karoui and independent law professor Kais Saied will advance to Tunisia’s presidential runoff, sending the North African nation’s young democracy into an unprecedented electoral battle. Tunisia’s electoral commission said Tuesday the two candidates came out on top of the 26 running in… Read More