29th November 2019
The Trump administration assured U.S. banks on Wednesday that they can temporarily process U.S. dollar transactions on a Dalian unit of China’s biggest shipping company COSCO that Washington had imposed sanctions on over suspicions it transported oil from Iran. The United States’ sanctions on Sept. 25 pushed global freight costs… Read More
29th November 2019
Police from Hong Kong, Macau, Malaysia and Singapore mounted a joint operation and busted a transnational syndicate that swindled 139 women out of HK$34 million (US$4.34 million) in online romance scams, local police said on Thursday. The three-day transnational police operation, code-named “Soarblaze”, led to the arrests of 39 people,… Read More
28th November 2019
President Trump on Wednesday signed tough legislation that authorizes sanctions on Chinese and Hong Kong officials responsible for human rights abuses in Hong Kong, signaling support for pro-democracy activists and escalating tensions with Beijing as Mr. Trump tries to negotiate a trade deal with Chinese leaders. China’s Foreign… Read More
28th November 2019
The Financial Intelligence Analysis Unit (FIAU) has launched a massive hunt for information regarding any possible financial transactions made by former Tumas Group CEO Yorgen Fenech or any of the 61 companies connected to him over the past years. In “strictly confidential” correspondence sent to all financial practitioners and financial… Read More
28th November 2019
French Foreign Minister Jean-Yves Le Drian on Wednesday raised the possibility of triggering a mechanism in the 2015 Iran nuclear deal that could lead to the reimposition of UN sanctions. Le Drian’s comments, to the National Assembly’s foreign affairs committee, came against a background of Iranian moves to disregard elements… Read More
28th November 2019
The Wallenberg family has jumped to the defense of its bank, SEB AB, after it was accused of enabling Russian money laundering. Shares in SEB rose more than 4% on Wednesday after the Wallenbergs led investors in brushing off a report by Swedish state broadcaster SVT, which said the bank… Read More
28th November 2019
More directors may depart Westpac’s board following an investigation of the bank’s money laundering and child exploitation scandal by consulting firm Promontory. Westpac’s board will also set up a new financial crime committee, chairman Lindsay Maxsted said. Investor pressure following bombshell legal action launched by… Read More
28th November 2019
A Miami investment manager pleaded guilty Tuesday to participating in a $1.2 billion money-laundering ring run by wealthy Venezuelan businessmen with political connections to the socialist government of President Nicolás Maduro. Gustavo Hernandez Frieri, 45, was convicted of a single money-laundering conspiracy count and now faces less than 10… Read More
28th November 2019
Switzerland is overhauling its 21-year-old system for reporting suspected money laundering and terrorism financing, Swiss federal police said on Wednesday, after concluding the old system that relies on fax or mail has outlived its usefulness. From 2020, Switzerland plans to use an anti-money laundering program from the United Nations Office… Read More
28th November 2019
AP — Pope Francis has tapped a Bank of Italy executive to take over the Vatican’s financial intelligence unit following a scandal that resulted in the Vatican being suspended from an international anti-money laundering network. Carmelo Barbagallo has been head of the Italian central bank’s vigilance unit since 2014, and… Read More