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US Legislators to Introduce Bipartisan Bills Fighting Kleptocracy

By Julett Pineda Sleinan, OCCRP, 14 June 2021 OCCRP — A group of U.S. lawmakers intend to introduce three bipartisan bills designed to curb kleptocracy and corruption worldwide. They say their proposals close gaps in existing laws concerning sanctions of corrupt individuals, address abuses to investor… Read More

U.K. Cyber Chief Cameron Says Ransomware Is Key Online Threat

Professional criminals holding businesses to ransom — often with the support of nation-states — is the key online threat facing the U.K., the country’s cyber security chief will say Monday. Lindy Cameron, who is chief executive of the National Cyber Security Centre, part of the spy agency GCHQ, will warn… Read More

Huawei CFO seeks publication ban on HSBC documents in U.S. extradition case

Huawei Chief Financial Officer Meng Wanzhou on Monday will seek to bar publication of documents her legal team received from HSBC, a request opposed by Canadian prosecutors in her U.S. extradition case who say it violates the principles of open court. Meng’s legal team will present arguments in support of… Read More
15th June 2021
By Julett Pineda Sleinan, OCCRP, 14 June 2021 OCCRP — A group of U.S. lawmakers intend to introduce three bipartisan bills designed to curb kleptocracy and corruption worldwide. They say their proposals close gaps in existing laws concerning sanctions of corrupt individuals, address abuses to investor… Read More
15th June 2021
Banks will be required to ensure that their virtual currency exchange clients are classified as high-risk and subject to strengthened financial transaction monitoring and user ID verification, according to the Financial Services Commission (FSC), Sunday. The lenders will have to deny services to customers that refuse to comply with ID… Read More
14th June 2021
U.K. officials have banned UAB Finolita Unio from operating in the country following a decision last week by the Bank of Lithuania to revoke the firm’s license over its alleged “severe infringement” of anti-money laundering (AML) and counterterrorism financing (CTF) laws. The U.K.’s Financial Conduct Authority (FCA) published the decision… Read More
14th June 2021
Hong Kong bankers and lawyers will be able to search the city’s companies registry under proposed exemptions to plans to tighten public access to the database, Secretary for Financial Services Christopher Hui said on Saturday. Business and governance experts have criticised a government plan to restrict access to the personal… Read More
14th June 2021
India’s financial crime-fighting agency said on Friday that WazirX, one of the country’s largest cryptocurrency exchanges and its directors, were under investigation for suspected violation of foreign exchange regulations. The investigation comes at time when the Indian government is mulling whether to introduce a law that could ban cryptocurrencies. The… Read More
14th June 2021
A new body has been set up by in Guernsey to investigate money laundering, financial crime and to recover proceeds of unlawful conduct. The Economic Financial Crime Bureau (EFCB), which has been created by the the Committee for Home Affairs, plans to use a range methods – including the law… Read More
14th June 2021
Cybercrime officials with the Criminal Investigation Department on Saturday busted a ₹290 crore money-laundering scam linked to a hawala racket. Ten people — including two from China and two from Tibet — have been arrested. However, the kingpin and prime accused, Anas Ahmed, who hails from Kerala but resides in… Read More
13th June 2021
The Central Bank of the UAE and the Central Bank of Egypt signed an agreement to strengthen the supervision of licensed financial institutions, such as banks, finance companies and foreign exchange businesses. The agreement sets up mechanisms to oversee the licensing and ownership structure of LFIs, the examination of their… Read More
10th June 2021
The National Australia Bank has extensively used casual workers in its financial crimes department, adding to concerns about its ability to clean up its anti-money laundering compliance following a rebuke from the regulator this week. The Age and Sydney Morning Herald can reveal that NAB has been using contractors in… Read More
10th June 2021
The Holy See needs to further strengthen measures to combat money laundering and financing of terrorism, the Council of Europe’s anti-laundering body Moneyval said in a report published Wednesday. While Vatican authorities have a solid understanding of the threats from money laundering and financing of terrorism, and of the… Read More