23rd January 2020
At a lavish August gathering at a private estate in Spain, a wealthy Venezuelan businessman under criminal investigation in the United States introduced Rudy Giuliani, President Donald Trump’s personal lawyer, to the father of Venezuela’s opposition leader, Juan Guaido. The affair was part of a campaign for leniency for the… Read More
15th January 2020
British offshore tax havens will send information about Russian assets registered in their jurisdictions to the Russian tax authorities, despite London and Moscow having cancelled an international agreement which facilitates the sharing of such financial information. Jersey, Guernsey and the Isle of Man are set to share details on bank… Read More
14th January 2020
The UK’s first ever cross-government, public-private Economic Crime Plan, a collection of policy, legislative and operational commitments, was published just days before the passing of the baton from Theresa May to Boris Johnson. In this respect, the plan could be viewed as a cuckoo in Prime Minister Johnson’s policy… Read More
14th January 2020
Five years after the LuxLeaks revelations, the fight against white collar crime is failing to take off, according to the magistrates in command. This is due to a lack of qualified staff and the increasing complexity of financial transactions. The two men in charge of the fight – Patrick Konsbruck, deputy… Read More
13th January 2020
At Danske Bank A/S, the cost of adapting to a world intensely focused on financial crime just keeps growing. In an interview in Stockholm, the chief executive of Danske in Sweden, Johanna Norberg, said “the peak” level of investment to meet anti-money laundering requirements has “not yet been reached.”… Read More
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
30th December 2019
Ongoing political demonstrations in Hong Kong are impacting APAC financial markets by accelerating wealth migration trends and increasing financial crime risk. As the risk profile in the region evolves, regulators increasingly expect financial institutions to leverage technology to meet compliance demands. This unexpected upheaval and changing regulatory landscape should serve… 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