Money Laundering

Featured Money Laundering

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

Arraignment date set for Venezuela envoy Saab accused of money laundering

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
15th October 2021
Five people have been arrested in Melbourne following an investigation linked to one of Australia’s largest ever alleged money laundering operations. Read more at The Age RiskScreen: Eliminating Financial Crime with Smart Technology… Read More
15th October 2021
Matis Mäeker, recently appointed head of Estonia’s anti-money laundering government agency believes Estonia should scrap its current crypto regulations and start again, he said in an interview with the local news outlet Eesti Ekspress. By Anna Baydakova, CoinDesk, 13 October 2021 Read more at CoinDesk RiskScreen:… Read More
14th October 2021
Police in China’s southwest region busted a group that was using cryptocurrencies to launder stolen money, which involved 800 million yuan (US$124 million), according to local media. Authorities in Zunyi, a city in China’s Guizhou province, were on the case for two months, following a directive from the State Council,… Read More
14th October 2021
Federal Investigation Agency (FIA) on Tuesday traced those involved in hoarding of $163 million in a structured manner. In an attempt to curb rising dollar rate against local currency, the FIA launched a crackdown against those involved in hoarding of dollars. The traders of hawala/hundi have also come under the… Read More
13th October 2021
The UAE is developing a new law that will further regulate fundraising and donations for charity in the country to tackle money laundering. The legislation – or the ‘Fundraising Regulatory Law’ – will apply to non-government organizations soliciting funds in the country, according to a senior government official. By Jennifer… Read More
13th October 2021
Anti-money laundering agency Austrac has obtained internal reports from The Star that reveal how the listed gaming giant failed to confront money laundering and terrorist financing risks in its Sydney and Queensland casinos. The move to compel The Star to hand over the confidential documents, including some prepared for the… Read More
13th October 2021
The Supreme Court has agreed to examine the legal issue of whether the Enforcement Directorate can attach ancestral properties of the accused under the Prevention of Money Laundering Act (PMLA) as “proceeds of crime“. he question came up for consideration before the top court on an… Read More
12th October 2021
Money laundering finds many avenues. Money gained from illicit activities by terrorists, drug lords, arms dealers and other criminals is washed through car sales, yacht purchases, jewelry and art acquisitions, and deposits in banks that — wink, wink — look the other way, even in sports betting. But perhaps nowhere… Read More