11th December 2019
Canada’s anti-money laundering agency is warning casinos to carefully eye customers who pay for their gaming with bank drafts — the latest method of choice for criminals trying to disguise dirty money. The federal Financial Transactions and Reports Analysis Centre of Canada, known as Fintrac, says in an operational alert… Read More
11th December 2019
Italy’s finance police searched on Tuesday offices of the Lombardy regional government and two firms with links to the League party as part of a money laundering probe, a statement by the prosecutor’s office said. The investigation is tied to a 2018 ruling in which the far-right League, led by… Read More
10th December 2019
A looming settlement between Westpac and the anti-money laundering regulator is being delayed by arguments between the bank and Austrac over whether responsibility for the child exploitation scandal rests with the company’s board and senior executives or its middle management, a court has heard. At the first case management hearing… Read More
10th December 2019
Swedbank (SWEDa.ST) said on Monday its chief risk officer was leaving as the Swedish bank’s new CEO revamps its structure to regain customer trust after a money laundering scandal sent its shares down 40% in the past year. Helo Meigas will leave the bank along with head of… Read More
10th December 2019
JPMorgan Chase & Co.’s blockchain-based payments network is drawing the greatest interest in Japan, a country long blamed for weak measures against money laundering. More than 80 Japanese banks have expressed a willingness to join the Interbank Information Network, said Daizaburo Sanai, an executive director at the U.S. firm. Read More
10th December 2019
The U.S. Treasury has imposed sanctions on a businessman and a senior government official with close links to Cambodian Prime Minister Hun Sen, accusing them of corruption. The measures come as western countries step up pressure on Hun Sen over a crackdown on the opposition and after the United States… Read More
10th December 2019
The United States on Monday sanctioned Aivars Lembergs, the suspended mayor of Latvia’s seaport city of Ventspils and an oligarch with substantial influence in the country’s politics, over alleged corruption, the U.S. Treasury said in a statement. According to the Treasury’s Office of Foreign Assets Control (OFAC), Lembergs controls “entities… Read More
10th December 2019
Summing up six weeks of testimony at the trial of a former SNC-Lavalin executive accused of fraud and corruption, a prosecutor told jurors Monday that greed lies at the root of the accusations. Sami Bebawi’s fate will soon be in the hands of the jury after federal prosecutors made their… Read More
10th December 2019
Deutsche Bank AG said Friday it agreed to pay €15 million ($16.6 million) in penalties to end a probe into possible money-laundering and tax evasion involving German clients, closing an investigation that featured a high-profile raid of the bank’s Frankfurt headquarters in November 2018. The bank and the Frankfurt… Read More
9th December 2019
Westpac has not completed a comprehensive external audit of how it manages risk in more than two years, with the last review finding the bank’s systems were only “partially effective”. In a letter to Westpac’s then chief risk officer Alexandra Holcomb in August 2017, audit firm EY said the design… Read More