7th January 2020
A “dual filing system” at the shuttered Pilatus Bank meant key documents may have been withheld from the MFSA and FIAU during a 2016 review of the bank’s operations. The existence of this ‘hidden’ filing system was revealed to the Egrant inquiry during testimony by Pilatus auditors KPMG. KPMG managing… Read More
7th January 2020
Investigators have lifted the lid on a Scottish gangster’s gory death – claiming he was the Russian mob’s top money launderer in the UK. Scot Young, from Dundee, was impaled on railings after he fell from a fourth-floor window at his luxury London home in 2014. At the… Read More
18th December 2019
A Dubai bank shuttered accounts earlier this year of a secret offshore company belonging to a Maltese businessman since charged with the murder of an investigative journalist, two banking officials have said. The businessman, Yorgen Fenech, was charged last month with complicity in the 2017 killing of Daphne Caruana Galizia,… Read More
16th December 2019
UK regulators are increasingly ordering independent investigations into financial institutions due to concerns over money laundering and white-collar crime, according to data cited by the Financial Times. The Financial Conduct Authority (FCA) and the Bank of England (BoE) ordered 51 “skilled persons’ reports” in the 2018-2019 fiscal year—a 16-percent… Read More
13th December 2019
The Netflix TV show ‘Narcos’ has done a commendable job showing audiences the trials and tribulations of both drug traffickers and those tasked with catching them in the 1980’s and 1990’s. Yet the problem is not historical, nor have things improved over the last 40 years. Read More
12th December 2019
Russia has considerably reduced suspicious cash operations in the last nine months, preventing 886 billion roubles ($14 billion) from being taken into the shadow economy, the head of Russia’s financial monitoring agency said on Wednesday. Suspicious cash withdrawals in Russia have fallen 52% in the last nine months, said Rosfinmonitoring… Read More
11th December 2019
To visit Moldova is to be presented with a stark reminder of the difficulty of genuine reform. Since declaring independence in 1991, the Republic of Moldova, a tiny sliver of a country squeezed between Ukraine and Romania, has struggled for cohesion, meaning and identity. Since 1991, its population has shrunk… Read More
6th December 2019
Boris Johnson’s anti-corruption champion has said that the UK must “clamp down harder” on corruption after an investigation revealed how a British company registered a global web of businesses linked to international crime gangs. John Penrose, who co-ordinates the response to corruption, said that Britain’s reputation for integrity was vital… 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
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