23rd September 2019
Delaware’s top law-enforcement official is taking aim at shell companies formed under the state’s popular corporate laws to help funnel hush money to a porn star linked to President Donald Trump and move drug funds for Colombian revolutionaries. Attorney General Kathy Jennings filed papers Thursday seeking to dissolve… Read More
23rd September 2019
Dubai: Employees of over 100 exchange houses in the UAE will undergo training to curb financial crimes in the banking sector, following an agreement with Dubai Police and the UAE’s Foreign Exchange and Remittance Group (FERG). Major General Khalil Ebrahim Al Mansouri, assistant commander-in-chief of criminal investigation affairs, Dubai Police… Read More
23rd September 2019
Tanzania’s president said on Sunday people held on charges of tax evasion, money laundering and other financial crimes should be freed if they confess and return the cash. John Magufuli said it was only a recommendation – and it was not immediately clear what impact his words would have on… Read More
19th September 2019
The insurance industry is open to abuse by criminals, including money launderers and terrorist financiers. Fraud and financial crime in the insurance space has risen sharply in recent years. According to PwC’s 2018 Global Economic Crime Survey, 62 percent of respondents from the global insurance community said their firms had… Read More
2nd September 2019
Philippine President Rodrigo Duterte will study the possibility of winding down the country’s booming offshore gambling industry after Chinese President Xi Jinping raised the subject at summit meeting in Beijing on Thursday. Known as Philippine Online Gaming Operators, or Pogos, the industry is mainly aimed at China, where gambling is… Read More
30th August 2019
European banks are ramping up spending on the fight against financial crime, after a wave of money-laundering scandals on the continent. However, industry insiders betray little optimism about the impact it will have on crime, let alone on banks’ reputations. Rob Wainwright, a former head of Europol now working at… Read More
26th August 2019
In Prime Minister Boris Johnson’s post-Brexit vision of a dynamic economy unshackled from the European Union, depressed British port cities will come roaring back to life as tax-exempt free ports. A concrete bunker on the edge of Luxembourg’s airport provides a useful reality check. There, on a side road flanked… Read More
22nd August 2019
Australian casino giant, Crown Resorts, has signalled it may reduce its reliance on Chinese “junket” operators as multiple investigations begin probing revelations it used recruiting firms connected to drug runners and other suspected criminals to lure cashed-up foreign gamblers. Crown on Wednesday also defended its due diligence and oversight… Read More
14th August 2019
Western companies with large operations in Hong Kong are activating plans for employees to work remotely, and considering how to respond to a variety of possible scenarios, as protests and police actions in the city become more widespread and unpredictable. On Tuesday, as protesters disrupted Hong Kong’s airport… Read More
7th August 2019
HSBC’s Swiss private banking arm has agreed to pay nearly 300 million euros ($336 million) to settle a tax fraud case in Belgium, Belgian prosecutors said on Tuesday, the latest blow for the Alpine state’s banking sector from the EU. The settlement comes after a French court in February ordered… Read More