Financial Crime

4th June 2019

Kenya’s central banker warns about impact of illicit flows

Kenya needs to urgently stamp out an upsurge of suspicious transactions in its financial sector that imperil future commercial activities and economic growth, Patrick Njoroge, the central bank governor, said on Monday. The East African nation is favoured by foreign investors mainly due to its diverse, fast-growing economy, but its… Read More

30th May 2019

Hong Kong judges see risks in proposed extradition changes

Some Hong Kong judges fear they are being put on a collision course with Beijing as the special administrative region’s government pushes for sweeping legal changes that would for the first time allow fugitives captured in Hong Kong to be sent to mainland China for trial. Three senior judges and… Read More

29th May 2019

Malta failing on rule of law after journalist’s murder: draft report

The failure of Maltese authorities to identify the masterminds behind the murder of investigative journalist Daphne Caruana Galizia raises questions about the rule of law in Malta, according to Europe’s chief human rights watchdog. Caruana Galizia, whose reporting uncovered widespread corruption, was killed by a car bomb in October 2017. Read More

9th May 2019

Danske Bank Hires Morgan Stanley Director to Lead Financial Crime Unit

Danske Bank has hired Morgan Stanley’s Satnam Lehal to lead its financial crime unit amid allegations that the institution played a prominent role in one of the largest money laundering scandals in recent years. Lehal, 41, has served as a managing director and international head of financial crime at Morgan… Read More

7th May 2019

EU should take over supervision of bank money-laundering risks: ECB’s Enria

The euro zone should favor mergers of banking groups in the bloc and take over the supervision of money-laundering risks from national authorities, the European Central Bank’s top watchdog said on Friday. Andrea Enria’s remarks followed a series of money-laundering scandals at European banks which have exposed vulnerabilities in the… Read More

6th May 2019

Hearing set in Trump fight over bank subpoenas

AP — Congress has agreed to postpone a deadline for two banks to respond to subpoenas for Donald Trump’s financial records after the president filed a lawsuit this week seeking to block them from responding. U.S. District Judge Edgardo Ramos on Wednesday set a hearing on Trump’s lawsuit for May… Read More

1st May 2019

Cryptocurrency thefts, fraud hit $1.2 bln in Q1 – report

Losses from the theft of cryptocurrencies from exchanges and fraud-related activities surged in the first quarter of the year to $1.2 billion, or 70 percent of the level for all of 2018, cybersecurity firm CipherTrace said on Tuesday. The value of losses from crime in the digital currency sector in… Read More

1st May 2019

Dems vow to enforce subpoenas as Trump resistance grows

AP — Democrats are steeling for a no-holds-barred fight with President Donald Trump as the White House ignores subpoenas, denies access to witnesses and otherwise stonewalls congressional oversight in the aftermath of special counsel Robert Mueller’s investigation. In the latest case, Trump, his family and the Trump Organization have filed… Read More

30th April 2019

Swiss group files criminal complaint against Credit Suisse over Mozambique loans

A Swiss anti-corruption lobby group has filed a criminal complaint against Credit Suisse over alleged fraud in the arrangement of $2 billion of loans to Mozambique, the group said on Monday. Mozambique, one of the most indebted countries in the world, in 2016 admitted to billions of dollars of undisclosed… Read More

30th April 2019

Trump sues Deutsche Bank and Capital One to block House subpoenas

U.S. President Donald Trump, three of his children and one of his companies filed a federal lawsuit Monday against Deutsche Bank and Capital One Financial Corp to block the banks from complying with federal subpoenas investigating his financial dealings. The federal lawsuit, filed in the U.S. District Court’s Southern District… Read More