7th July 2020
Mastercard was warned about Wirecard’s links to an alleged laundering network in 2016, The Times can reveal. The payments group was handed details of Wirecard’s alleged links to a scheme that used bogus online stores to disguise the processing of high-risk payments, and Mastercard executives privately admitted to concerns about… Read More
7th July 2020
U.S. prosecutors have charged two sons of former Panamanian President Ricardo Martinelli in connection with bribery and money laundering linked to Brazilian construction firm Odebrecht, according to a federal complaint unsealed on Monday. Luis Enrique Martinelli, 38, and Ricardo Alberto Martinelli, 40, were arrested earlier in the day in Guatemala… Read More
7th July 2020
The Enforcement Directorate has initiated the process of registering another money-laundering case against middleman Sanjay Bhandari and others. It is related to an alleged illegal consultancy agreement with Samsung Engineering Co. Limited (SECL) to help the company get a project worth ₹6,744.32 crore in Gujarat. Last month, in the same… Read More
7th July 2020
MFSA CEO Joseph Cuschieri says the financial regulator is ready to take on a new role that will bolster its investigative and supervisory powers against the problems of financial crime that risk Malta’s greylisting by Moneyval. There is serious talk about Malta’s possible grey listing from Moneyval. Let’s start with… Read More
7th July 2020
Private-sector institutions that facilitate the flow of money across the global financial system are often best placed to detect when the system is being abused by criminals. But the sheer volume of data banks collect can make screening for financial crime difficult. Mariano Federici, the former head of Argentina’s Financial… Read More
7th July 2020
‘Money laundering is modern-day alchemy. You take cash earned from criminal activity, put it through a system designed to obliterate any trail of its origins, and then bring it out the other end as legitimate income,” said Jeffrey Robinson, author of The Laundrymen, a seminal book on the subject. Money… Read More
6th July 2020
A foreign exchange broker who defrauded his clients of $1.55 million by using forged documents has been jailed. Russell Maher appeared today in the Auckland District Court and was sentenced by Judge Russell Collins to three years and four months’ imprisonment. The 53-year-old had been charged and later pleaded guilty… Read More
6th July 2020
Estonia said on Friday that it wanted to receive a share of any fines imposed by the United States if banks are found guilty of money laundering in the Baltic nation in ongoing inquiries. U.S. authorities are investigating Denmark’s largest bank Danske (DANSKE.CO), which was forced out of Estonia… Read More
6th July 2020
Sixty-two countries violated United Nations Security Council sanctions against North Korea over a one-year period, according to a report from a Washington, D.C.-based think tank The Institute for Science and International Security report, released Wednesday, cites over 250 alleged violations from February 2019 to February 2020 based on… Read More
6th July 2020
Almost two decades after the collapse of Enron Corp., a former unit of the energy-trading giant is sparring with U.S. and Nigerian authorities over the proceeds of the sale of a luxury yacht. The dispute pivots on the Galactica Star — a 213-foot vessel once worth more than $80 million. Read More