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USA: Credit Suisse Resolves Fraudulent Mozambique Loan Case in $547 Million Coordinated Global Resolution

Credit Suisse Group AG, a global financial institution headquartered in Switzerland, and Credit Suisse Securities (Europe) Limited (CSSEL), its subsidiary in the United Kingdom (together, Credit Suisse), have admitted to defrauding U.S. and international investors in the financing of an $850 million loan for a tuna fishing project in Mozambique,… Read More

The mystery of the missing £50bn

One Saturday evening last October, a young woman called Tara Hanlon arrived at Heathrow airport with five suitcases. When a customs officer asked why she had so much luggage, she explained that she was going to Dubai with friends and didn’t know what she might want to wear. Hanlon’s long… Read More

Canada: B.C. casinos used foreign high rollers as money-laundering ‘pawns,’ inquiry hears

In 2012, an RCMP investigation reported that Richmond’s River Rock Casino and New Westminster’s Starlight Casino “are a very significant source of money-laundering activity, using wealthy People’s Republic of China gamblers as willing pawns in their activity.” The confidential RCMP document that makes this explosive allegation —… Read More
20th October 2021
Belgium is trying to water down European Union sanctions on Belarus’s potash industry, in a bid to ease difficulties companies within the bloc face in implementing the measures. Diplomats in Brussels have written to other EU member states, requesting a loosening of restrictions on Belarusian potash to allow for… Read More
19th October 2021
The cost to scam victims’ wellbeing can be calculated at a monetary total of £9.3bn a year, according to the consumer group Which?. That is the equivalent of £2,509 a year for each victim, but the impact can be higher for someone hit by online fraud. By Kevin Peachey, BBC,… Read More
19th October 2021
A U.S. judge on Monday set a Nov. 1 arraignment date for Alex Saab, a businessman accused of laundering money on behalf of Venezuela’s government, in a case that pits the United States against the socialist government of President Nicolas Maduro. U.S. prosecutors in 2019 charged Saab in connection with… Read More
19th October 2021
OCCRP — The Pandora Papers revelations have for a second week prompted responses from those exposed by them, and from governments and civil society groups, who have either completely denied, or belittled the findings, or pledged to take action. “My name, first and foremost, is not there,”… Read More
19th October 2021
A Tunisian court on Sunday ordered a lawmaker to be detained over suspected tax fraud and money laundering – the fourth parliamentarian to be taken into custody since President Kais Saied seized near total control of the country in July. By Tarek Amara, Reuters, 17 October 2021 Read more at… Read More
18th October 2021
Some desperate Afghan parents are forced to sell their children to deal with poverty, the Wall Street Journal reported. A house cleaner in western Afghanistan named Saleha, for example, sold her 3-year-old daughter to a man to whom she owed a $550 debt. Saleha, 40, receives 70 cents a day… Read More
18th October 2021
The Department of Justice today announced a tip line to help assist its Anticorruption Task Force fight corruption in El Salvador, Guatemala, and Honduras, a key component of the Vice President’s work to address the root causes of migration. “As the Vice President recognized during her visit to Guatemala earlier… Read More
18th October 2021
By Cartel De Jalisco, InSight Crime, 15 October 2021 InSight Crime — Mexican criminal groups have hit on a new way to recruit vulnerable young people into their ranks: reaching out to them while they play video games. On October 11, authorities in the southern state of… Read More
18th October 2021
The University of Cambridge has broken off talks with the United Arab Emirates over a record £400m collaboration after claims about the Gulf state’s use of controversial Pegasus hacking software, the university’s vice-chancellor has said. By Richard Adams, Georgia Goble and Nick Bartlett, The Guardian, 14 October 2021 Read more… Read More
15th October 2021
At booths lining the walkways, sloth paws are stored in jars next to dried herbs, and yellow-footed turtle meat lies alongside chicken breasts. A leopard skin drapes above a stall, like a rug drying on a laundry rack. Handicrafts sit atop tables in rows, as do bottles of pink dolphin… Read More