6th December 2019
Over 300 reports of suspicious transactions at Satabank worth in excess of €130 million have been flagged by global services firm EY since it was entrusted to administer the bank’s assets by the financial regulator. The move had followed the suspension of the bank’s licence by the Malta Financial Services… Read More
6th December 2019
Israel’s state prosecutor has plans to indict prime minister Benjamin Netanyahu’s cousin and personal lawyer, alongside six other people, on charges related to a possible conflict of interest over a $2bn purchase of German submarines. Shai Nitzan said in a statement on Thursday the seven would be charged on various corruption offences,… Read More
5th December 2019
Take the arrest of an Iranian-born Turkish citizen during a jaunt to Disney World. Factor in the irrepressible Rudy Giuliani, who briefly served as the arrested man’s lawyer. Add a dash of Turkey’s authoritarian leader, Recep Erdogan, a favorite of President Donald Trump. Mix in a massive leak of more… Read More
5th December 2019
More than 200 people have been arrested in 31 countries following a three-month global investigation into money laundering, Europol said Wednesday. The investigation, known as the European Money Mule Action, targeted those who help money launderers transfer funds. The action resulted in 228 arrests, as well as identifying 3,833 mules… Read More
5th December 2019
The European Commission should open an investigation into the rule of law. Preparations must now be made for Article 7 proceedings against Malta, MEP Sven Giegold said today. Article 7 of the Treaty on European Union is a procedure to suspend certain rights from a member state. At the end of the two-day… Read More
5th December 2019
The firm at the heart of a company formation scheme opened accounts for high-risk customers at a bank part-owned by the Celtic boss Dermot Desmond, which had previously been implicated in a money-laundering scandal. Mr Desmond bought into Rietumu, one of the largest banks in Latvia, in 2005 for what… Read More
5th December 2019
Gilbert Mvondo is still waiting to be paid for carving dirt roads through the Cameroonian rainforest, where foreign investors promised to create jobs cultivating cannabis and other crops for export. Residents of the southern region of Meyomessala were recruited in early 2016 by local officials to prepare the ground for… Read More
5th December 2019
A Russian wire transfer service popular among Tajik migrant labourers has been cut off from the Central Asian nation’s banking system, it said on Wednesday, after Dushanbe rerouted all remittances into a new processing centre. More than a million Tajiks work in Russia, sending home about $2.6 billion a year… Read More
5th December 2019
By Ronald F Pol, La Trobe University The charges surrounding Westpac’s alleged 23 million breaches of anti-money laundering laws have been called “about as serious as it gets”. They include, in the words of Home Affairs Minister Peter Dutton, giving “a free pass to paedophiles”. Read More
4th December 2019
Citigroup has been identified as one of the four correspondent banks in AUSTRAC’s filing against Westpac, initially referred to as ‘Bank A’ in its statement of claim. According to Investor Daily, the Citi transactions came from one of its European arms, using Westpac to clear the payments and… Read More