10th September 2019
U.S. congressional investigators have identified possible failures in Deutsche Bank AG’s (DBKGn.D) money laundering controls in its dealings with Russian oligarchs, after the lender handed over a trove of transaction records, emails and other documents, three people familiar with the matter said. The congressional inquiry found instances where… Read More
9th September 2019
The European Union is continuing to investigate Danske Bank A/S’s regulators in Denmark and Estonia even after the bloc’s banking watchdog concluded they hadn’t broken EU law during one of the region’s biggest-ever money-laundering scandals. The European Commission, the EU’s executive arm, is still examining the matter to… Read More
9th September 2019
Around the world, buying property is a favourite method for the corrupt to launder their ill-gotten gains. When corrupt officials take large bribes, embezzle funds or otherwise steal money from the countries they are meant to serve, the money usually has to be cleaned before it can be enjoyed. As… Read More
9th September 2019
The U.S. Treasury Department on Friday said it will curb remittances to Cuba and ban some money transfers through U.S.-regulated banks in a stiffening of a sanctions ban it says will further financially isolate the country. The Trump administration began reversing an Obama-era thawing of relations early in its tenure,… Read More
9th September 2019
On a scorching June day, a senior U.S. official arrived in the United Arab Emirates with a clear message: The Trump administration intended to tighten the screws on Iran through sanctions targeting its oil sales. “We are going to increase our sanctions on Iran and continue our foreign policy,” Brian… Read More
9th September 2019
New Zealand is in talks with Australia to lower hefty money transfer fees in several Pacific Island countries, as “stubbornly high” costs strain the region’s economies and hamper UN targets. Remittances are a key source of earnings for many Pacific families who have relatives working abroad and the intervention comes… Read More
9th September 2019
Salvadoran President Nayib Bukele on Friday unveiled a new independent commission to tackle corruption, taking inspiration from a U.N.-backed body that toppled the previous president of neighboring Guatemala. Bukele, who took office in June, has vowed to stamp out corruption that has implicated former presidents and said he had created… Read More
9th September 2019
Authorities in Bosnia arrested on Thursday three former Sberbank employees who are suspected of money laundering and have allegedly deprived the bank of more than one million Konvertible Marks. The State Investigation and Protection Agency (SIPA) said the three are suspected of ‘abuse of position and authority’ and of… Read More
9th September 2019
Brazilian construction conglomerate Odebrecht SA agreed to pay US$50 million to NGO and charities as part of a settlement to resolve allegations that its subsidiary bribed public officials in two projects financed by the Inter-American Development Bank (IDB), the IDB Group, which is the leading source of development finance… Read More
9th September 2019
The European Union must either centralise its anti-money laundering (AML) and counterterrorist financing (CFT) supervision or take further “evolutionary” steps if it is to fight financial crime effectively, an official said Thursday.  In remarks delivered to the Economic and Monetary Affairs Committee, European Banking Authority (EBA) Chairman Jose… Read More