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US sanctions on Russia’s OFZ local debt come into force

The US sanctions imposed on April 15 that bar US investors from buying Russian Ministry of Finance ruble-denominated OFZ treasury bills in primary auctions come into force on June 14. The sanctions are the first to target Russian domestic debt, but are seen as largely symbolic,… Read More

Who is a PEP? Malta’s financial intelligence unit lists all government roles

The Financial Intelligence Analysis Unit has published a list of all government jobs whose authority and control on vast amounts of money and influence, qualifies them as political exposed persons (PEPs) The list, drawn up on advice of the National Co-ordinating Committee on Combating Money Laundering and Funding of Terrorism,… Read More

Australia: ClubsNSW threatens to try to force media to hand over emails with pokies whistleblower

New South Wales’ powerful club lobby is considering using the courts to force two journalists to hand over email communications they had with a poker machines whistleblower. ClubsNSW is also demanding that the whistleblower, Troy Stolz, set aside $150,000 from the sale of his house on the Central Coast to… Read More
15th June 2021
The co-founder of a Florida financial firm facing investor lawsuits alleging securities fraud has died by suicide, and a spokesperson on Monday denied wrongdoing, saying the death was not connected to a class action lawsuit filed last week. Eric Holtz, the 54-year-old co-founder of the Seeman Holtz Family of Companies… Read More
15th June 2021
Huawei Chief Financial Officer Meng Wanzhou on Monday will seek to bar publication of documents her legal team received from HSBC, a request opposed by Canadian prosecutors in her U.S. extradition case who say it violates the principles of open court. Meng’s legal team will present arguments in support of… Read More
15th June 2021
Britain’s financial regulator has to make daily sweeps of the internet to warn about online scams in real time and keep pace with fraudsters who are often based outside the country, one of its officials said on Monday. Mark Steward, the Financial Conduct Authority’s (FCA) director for enforcement, said the… Read More
15th June 2021
The government is considering a proposal from banks that criminally-obtained funds are used to pay back other victims. Three-quarters of those asked in the survey said they supported the idea. But the amount frozen in these accounts would be vastly insufficient to cover the bill. Pandemic scams Last month, the… Read More
14th June 2021
U.K. officials have banned UAB Finolita Unio from operating in the country following a decision last week by the Bank of Lithuania to revoke the firm’s license over its alleged “severe infringement” of anti-money laundering (AML) and counterterrorism financing (CTF) laws. The U.K.’s Financial Conduct Authority (FCA) published the decision… Read More
14th June 2021
A senior cybercrime officer has warned that luxury flats being sold for bitcoin could be exploited by criminal gangs. Nigel Leary, a director at the National Crime Agency, said that he had significant concerns about bitcoin or other cryptocurrencies being used for large purchases such as property or private jets. Read More
11th June 2021
Anti-money-laundering charges against MoneyGram International Inc. were dismissed after prosecutors said the money-transfer company had complied with the terms of a long-running settlement agreement. The order by Judge Christopher Conner of the U.S. District Court in Harrisburg, Pa., on Thursday brought to a close MoneyGram’s more than eight-year effort… Read More
10th June 2021
The police in the Oost-Brabant district have questioned 47 suspects over potential involvement in pulling “friend-in-need” WhatsApp scams. With this type of fraud, scammers approach their victims via messaging services or social media claiming to be the victim’s family members or friends in an emergency. They then request money to… Read More
10th June 2021
Toronto-Dominion Bank was found not liable for losses related to convicted fraudster Allen Stanford’s Ponzi scheme, with an Ontario judge rejecting a $4.5 billion negligence claim against the firm. The lender doesn’t need to pay the claim filed by trustees trying to recover losses from Stanford… Read More
10th June 2021
The National Australia Bank has extensively used casual workers in its financial crimes department, adding to concerns about its ability to clean up its anti-money laundering compliance following a rebuke from the regulator this week. The Age and Sydney Morning Herald can reveal that NAB has been using contractors in… Read More