31st July 2019
Australian law-enforcement and intelligence agencies are scrutinizing the activities of one of Chinese President Xi Jinping’s cousins as part of broad probes of organized crime, money laundering and alleged Chinese influence-peddling, according to Australian officials. Among other things, police are looking into the alleged 2017 use by the cousin, Ming… Read More
25th July 2019
Malta’s anti-money laundering regime has failed a review by international experts and the island now has a year to get its house in order or face potential blacklisting procedures. Monitoring body Moneyval gave Malta just over a year to address a series of shortcomings in its anti-money laundering efforts following… Read More
16th July 2019
The director of the Sistine Chapel Choir, which has provided the musical backdrop to papal events for centuries, has resigned following allegations of fraud and embezzlement. Monsignor Massimo Palombella has “concluded his service” after Pope Francis approved his request to end his tenure, the Vatican said in a statement on… Read More
15th July 2019
After a U.S. money-laundering probe rocked Latvia’s economy, sending one of its largest banks belly up, the Baltic nation’s U.S.-born leader is trying to convince Washington and business leaders that he’s cleaning up his country’s financial system for good. In meetings this week with top investors and U.S. policy makers,… Read More
8th July 2019
Along with free trade deals, tax cuts for high earners and the threat of a no-deal Brexit, special tax-free zones are likely to feature in a Boris Johnson premiership. The frontrunner to move into No 10 told a Tory hustings event this week that… Read More
3rd July 2019
French authorities are encouraging companies to conduct internal investigations when seeking to settle allegations of certain financial crimes—the latest in a series of reforms that brings the country closer to the U.S. model of corporate crime and punishment. Guidance explaining how such investigations can help companies secure negotiated settlements, released… Read More
28th June 2019
Maltese Finance Minister Edward Scicluna on Thursday disclosed plans to create a new governmental agency tasked with increasing money laundering prosecutions in the country, The Times of Malta reported.  Although the structure of the proposed investigatory body has yet to be determined, officials hope to launch an agency capable… Read More
27th June 2019
Australian buy-now-pay-later company Afterpay Touch Group said on Wednesday it is halting a $21 million capital raising as it waits to receive the recommendations of an audit ordered by the country’s financial crime watchdog. The Melbourne-based company said it provided the Australian Transaction Reports and Analysis Centre (AUSTRAC) three candidates… Read More
26th June 2019
Facebook’s fledgling cryptocurrency faced mounting scrutiny on Tuesday as European central bankers and regulators demanded more detail on the social media giant’s Libra project. Britain’s top financial regulator said there was not yet enough information to understand Libra, adding that it could be very significant for public policy and that… Read More
21st June 2019
Guernsey, Jersey and the Isle of Man committed on Wednesday to naming the individuals who own or otherwise control corporations operating in their jurisdictions as part of an effort to meet EU anti-money laundering standards. Beginning in 2021, the islands will interconnect corporate beneficial ownership registers with similar databases in… Read More