7th March 2019
The United Kingdom is failing to hold multinational companies accountable for money laundering and other economic crimes, a watchdog group said in a report published Wednesday. The findings by London-based Corruption Watch unfavorably compared UK financial crime enforcement to supervisory efforts in the United States, noting that the United Kingdom… Read More
7th March 2019
The United States is warning banks against facilitating transactions for Venezuelan President Nicolas Maduro and his associates as American officials consider a new raft of sanctions against the contested leader. In a statement published Wednesday, US National Security Advisor John Bolton said that the White House is preparing diplomatic and… Read More
7th March 2019
The Russian accounts of Venezuelan companies, including state oil firm PDVSA, will be moved to the Russian Financial Corporation Bank (Rusfincorp), which is sanctioned by the United States, a source told Reuters on Wednesday. The decision had been agreed with the Russian government, the source, who is familiar with the… Read More
7th March 2019
Iran hopes a new trade channel with Europe aimed at cushioning the blow of reimposed U.S. sanctions will be working within weeks, its deputy foreign minister said on Wednesday. France, Britain and Germany have set up the new mechanism for non-dollar trade with Iran in response to Washington’s withdrawal from… Read More
7th March 2019
French judges have dropped preliminary charges against LafargeHolcim’s former Chief Executive Eric Olsen, said Olsen’s lawyer, which came as part of a wider investigation on whether the company helped finance Islamic State in Syria. French authorities are looking into whether French cement maker Lafarge, which was taken over by Swiss… Read More
7th March 2019
Prosecutors in the Netherlands said on Wednesday they are evaluating signs of Dutch involvement in a money laundering network which is alleged by a report this week to have channelled billions of euros from Russia. Shares in Dutch banks ING and ABN Amro fell after a report by a collective… Read More
7th March 2019
AP—Former South Korean President Lee Myung-bak was released from detention Wednesday after a court approved 1 billion won ($885,000) bail nearly a year after his arrest and during the ongoing appeal of his corruption conviction and sentence. An official from the Seoul High Court said Lee was permitted to… Read More
7th March 2019
Shares in French bank Credit Agricole fell by more than 2 percent on Wednesday, with traders saying the drop was linked to media reports about a money laundering network alleged to have channeled billions of euros from Russia. Two traders linked the drop to a report in French newspaper Les… Read More
6th March 2019
European Union states have added 10 jurisdictions to a draft tax haven blacklist, including the United Arab Emirates (UAE) and Bermuda, an EU official told Reuters on Tuesday, in a move that would triple the number of listed countries. The measure comes more than one year after the bloc decided… Read More
6th March 2019
U.S. lawmakers are seeking to expand the mission of the country’s financial intelligence unit by granting it more authority to fight the financing of domestic terrorism and the misuse of cryptocurrencies. Under proposed legislation, the mission statement of the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) would be amended to… Read More