23rd June 2020
A total of 374,882,245 euros, including cash, financial instruments and real estate have been arrested in the criminal procedures into ABLV Bank investigated by the Economic Crime Control Department (ENAP) of the State Police, the LETA newswire reported June 19, citing police as the source. The police noted that on… Read More
22nd June 2020
After Miami’s real estate boom and bust a decade ago, one of the many foreign buyers who swooped in to snap up a luxury high-rise condo overlooking Biscayne Bay was a minister of parliament in the Republic of the Congo. Denis-Christel Sassou Nguesso, whose father has been president of the… Read More
22nd June 2020
A senior associate of the Kinahan cartel has been charged with 30 money laundering offences relating to bank accounts he held in his own name over a five-year period. Jonathan Harding (48), who is currently serving a lengthy jail term over a major weapons seizure linked to the crime gang,… Read More
22nd June 2020
While Bangladesh is depending on global lenders for aid to weather coronavirus-induced health and economic crises, its medical administration remains unusually generous to suppliers of medical equipment and services. The Directorate General of Health Services, the country’s national health agency, quotes prices paid for procurement of medical personnel safety goggles,… Read More
22nd June 2020
If criminals have the advantage in the fight against financial crime, that’s due in no small part to how the anti-money laundering sector functions, according to Jim Richards, principal and founder of RegTech Consulting LLC. For one, bank supervisors are focused primarily on technical compliance with AML regulations rather than… Read More
19th June 2020
The Syrian first lady, Asma al-Assad, has been named in the first round of new US sanctions that are certain to intensify pressure on the embattled regime and its backers as the country’s crippled economy continues to wither. The law, known as the Caesar Act, came into effect on Wednesday,… Read More
19th June 2020
A former aide to Brazilian President Jair Bolsonaro’s eldest son has been arrested as part of an investigation into alleged corruption. Fabrício Queiroz is suspected of being part of a scheme to embezzle the salaries of phantom employees in the Rio de Janeiro assembly when Flávio Bolsonaro was a state… Read More
19th June 2020
Financial crimes watchdog AUSTRAC has two months to add any new allegations to its blockbuster case against Westpac, as it investigates suspicious transactions from 272 customers who may have been involved in paedophilia. Federal Court Justice Jonathan Beach ordered the deadline on Wednesday ahead of a potential trial early next… Read More
19th June 2020
The Drug Enforcement Administration laundered tens of millions of dollars in the course of drug trafficking investigations over the past decade without complying with laws governing such operations, according to a newly released review from the Justice Department’s in-house watchdog. Justice’s Inspector General Michael Horowitz found that the DEA failed… Read More
19th June 2020
The National Bank of Hungary (MNB), serving as the country’s financial regulator, said on Wednesday that it has fined six banks a combined 124.2 million forints (EUR 360 thousand) for shortcomings related to the prevention of money laundering and terrorist financing. MagNet Bank, UniCredit Bank, Erste Bank, Sberbank, OTP Bank… Read More