Money Laundering
21st December 2018
Criminals are able to use Germany’s real estate sector to launder billions of euros annually as its laws and resources for authorities are out of step with the swift movement of corrupt cash, a new study has found. It is estimated that 15 to 30 percent of all criminal assets… Read More
21st December 2018
The number of suspicious activity reports (SARS) received by the UK Financial Intelligence Unit edged up to almost half a million in the year, placing increased demand on the unit in terms of volume and complexity, the UK’s financial crime boss said in the latest National Crime Agency SARS report. Read More
21st December 2018
As the year comes to a close and the holiday season gets into full swing, anti-money laundering (AML) professionals may well be left dumbstruck, very worried or somewhat giddy after a year that has thrown up some striking developments in enforcement and regulation, a stunning AML catch (drumroll please!) and… Read More
20th December 2018
EU member states have agreed on a plan aimed at strengthening the European Banking Authority’s supervisory powers in order to better address money laundering problems following a rise in banking financial crime scandals. Under the plans, the EBA – as a last resort – will be able to directly handle… Read More
20th December 2018
Estonia has arrested 10 former employees of the local branch of Danske Bank (DANSKE.CO) as part of an international investigation into alleged money laundering. Authorities in Denmark, Estonia, Britain and the United States are investigating payments totaling 200 billion euros ($229 billion) made through the tiny Estonian branch of Denmark’s… Read More
20th December 2018
A Russian mafia whistleblower who was found dead after going out for a run near his home in southern England six years ago probably died of natural causes rather than from an elaborate poison plot, a British coroner found on Wednesday. Alexander Perepilichny, 44, was found collapsed and vomiting near… Read More
20th December 2018
UBS Financial Services (UBSFS) has agreed to pay $14.5 million in penalties to US regulators after it emerged that it failed to implement sufficient financial crime prevention procedures for over a decade. For years, UBSFS did not provide sufficient resources to ensure day-to-day anti-money laundering (AML) compliance, according to the… Read More
19th December 2018
AP — There was a time, after a spectacular prison escape, when Joaquin Guzman was the most wanted man in the world. The thrill of being able to see the man known as El Chapo up close — and live to tell the tale —… Read More
18th December 2018
Malaysia has filed criminal charges against Goldman Sachs and its former executives for their alleged role in the multi-billion dollar corruption and money laundering scandal involving state investment fund 1Malaysia Development Bhd (1MDB). The prosecution, which is seeking billions in fines from the bank and the accused former workers, said… Read More
18th December 2018
An Italian judge said on Monday oil majors Eni (ENI.MI) and Royal Dutch Shell (RDSa.L) were fully aware their 2011 purchase of a Nigerian oilfield would result in corrupt payments to Nigerian politicians and officials. Italy’s Eni and Shell bought the OPL 245 offshore field for about $1.3 billion (1.03… Read More