22nd November 2019
Prime Minister Benjamin Netanyahu was indicted Thursday on charges of bribery, fraud and breach of trust in a set of long-running corruption cases, throwing his political future into doubt and heightening the uncertainty and chaos surrounding Israel’s fitful, yearlong struggle to choose its next leader. Mr. Netanyahu, 70, who in… Read More
22nd November 2019
The General Court of the European Union on Wednesday gave a reprieve to Austria’s former Meinl Bank (now called Anglo Austrian Bank), allowing it to keep its banking license pending further court action. Last week the European Central Bank withdrew Anglo Austrian’s license. The bank immediately said it would take… Read More
22nd November 2019
Swedbank AB may have violated U.S. sanctions against Russia by facilitating the transfer of about 10 million Swedish kronor ($1 million) from gun maker Kalashnikov to a U.S. subsidiary in Florida, according to a report by Swedish state broadcaster SVT. After Russia annexed Crimea in 2014, the U.S. imposed sanctions… Read More
21st November 2019
Malta’s biggest bank failed for years to detect or address risks involving thousands of payments, the European Central Bank (ECB) said, detailing “severe shortcomings” that could have allowed money laundering or other criminal activities. A confidential ECB report seen by Reuters said Bank of Valletta (BoV) BOV.MT had not dealt… Read More
21st November 2019
About $400 million of XRP tokens, the currency for the Ripple payment network, is tied to illegal transactions, according to findings released on Wednesday by London-based Elliptic, a provider of risk management systems for the cryptocurrency industry. XRP, a token used for payments and settlement, currently has a market capitalization… Read More
21st November 2019
When Nicole Rose pulled the lever on Westpac, with explosive AUSTRAC allegations of 23 million breaches of money laundering and terror finance laws over five years, she displayed all the muscle and determination of this small regulator. The staggering announcement on Wednesday totally eclipses the CBA case where Rose extracted a settlement… Read More
21st November 2019
Russian oligarch Mikhail Abyzov built a complex network of offshore companies that were used to move a fortune out of Russia, according to a Swedbank internal draft report obtained by OCCRP and its Swedish partner, national public TV channel Sveriges Television (SVT). Today he’s charged with defrauding the Russian government… Read More
20th November 2019
Australian financial crime watchdog, AUSTRAC, has applied for civil penalty orders against Westpac bank over 23 million instances of money laundering failures. Westpac had made 23 million breaches of Australian Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF)  laws, resulting in “serious and systemic non-compliance”, AUSTRAC said on Wednesday. Around 19.5 million… Read More
20th November 2019
An international network of financial watchdogs has suspended the Vatican’s access to its information, dealing a major blow to the Vatican’s financial credibility under Pope Francis. The Egmont Group, a Toronto-based network of more than 160 national financial intelligence units around the world, has decided to suspend the Vatican watchdog… Read More
20th November 2019
German authorities have carried out a raid on an organized international network suspected of illegally transferring millions of euros to Turkey. Police searched about 60 apartments and offices in Tuesday’s early-morning raids across Germany. Officers say 27 people are suspected of being involved in the scheme; six arrest warrants have… Read More