22nd June 2020
The Mexican government’s financial crime department has frozen the bank accounts of companies and people blacklisted by the United States under accusations of having evaded the sanction regime imposed on Venezuela, its chief said on Friday. Santiago Nieto, chief of Mexico’s Financial Intelligence Unit, did not elaborate on details, but… Read More
19th June 2020
Financial crimes watchdog AUSTRAC has two months to add any new allegations to its blockbuster case against Westpac, as it investigates suspicious transactions from 272 customers who may have been involved in paedophilia. Federal Court Justice Jonathan Beach ordered the deadline on Wednesday ahead of a potential trial early next… Read More
16th June 2020
A loophole in Kuwait’s tax compliance laws applicable for foreign accounts and the United States Foreign Account Tax Compliance Act (FATCA) may be resulting in money laundering and tax evasion, experts feel. Crimes linked to the 1MBD Malaysian scandal and other financial offences committed by a number of Korean nationals… Read More
15th June 2020
As the UK and the EU exchange expressions of disappointment with each other’s alleged inflexibility after every round of Brexit trade negotiations, the usual areas of disagreement are raised: access to Britain’s fishing grounds, the requirements of a level playing field agreement, regulations over state aid and other issues that… Read More
15th June 2020
The prosecution of French companies by the U.S. for their business practices abroad has long been a sore point for some in France. Now, France’s top law enforcement official has released guidance suggesting that it could adopt an approach to corporate corruption and bribery championed by the country it once… Read More
9th June 2020
The Global Coalition to Fight Financial Crime (GCFFC) has announced its public launch, bringing together 13 key players from the anti-financial crime ecosystem to raise awareness, promote information sharing between public and private entities, and enhance the effectiveness of controls against money laundering. The GCFFC was first unveiled in 2018,… Read More
5th June 2020
The coronavirus pandemic is placing unbelievable strain on all facets of the world economy, with stay-at-home and shutdown orders shuttering some industries and disrupting most others. The abrupt shift to working from home has created new and varied opportunities for fraudsters and criminals to ply their trades. But there are… Read More
4th June 2020
The Mexican government’s financial crime department is investigating Libre Abordo, a Mexico-based firm that received millions of barrels of Venezuelan crude under an oil-for-food pact, in a probe coordinated with U.S. agencies, the department’s chief, Santiago Nieto, told Reuters. The Mexican Financial Intelligence Unit is also separately investigating several other… Read More
2nd June 2020
We all like to kill a goblin or two online, but most people would agree multiplayer games are not the place for real-world crime. With lockdowns continuing around the globe and people staying at home, it is no wonder that the popularity of online gaming has skyrocketed. And as in-game… Read More
28th May 2020
The bank at the center of Sweden’s biggest money-laundering scandal says illegal transactions are probably still flowing through the financial system, because existing tools to stop them aren’t good enough. Swedbank AB, which was fined over $400 million in March for failing to halt suspicious flows, has now… Read More