Money Laundering
28th May 2018
Estonian police said on Friday more than $13 billion (11 billion euros) was laundered through the small Baltic state’s banks from 2012 to 2016, with at least $7.3 billion through non-resident bank accounts. The Baltic region has been hit with revelations of money laundering from Russia, Moldova and Azerbaijan via… Read More
25th May 2018
Latvia has warned the European Union to bolster fragmented money laundering controls as much of the cash now leaving the Baltic state to escape tighter scrutiny is going to other EU countries. The warning was issued by the country’s prime minister and finance minister in interviews with Reuters, when both… Read More
25th May 2018
The United States and European Union will continue to work closely together to combat terror funding and money laundering, including through swift data sharing, following a meeting of top officials on justice and home affairs. Representatives at the meeting in Sofia, Bulgaria, which currently holds the EU Presidency, discussed their… Read More
24th May 2018
Swiss authorities have raided several locations in Switzerland as they ramp up a criminal investigation into suspected money laundering connected to crimes involving Angola’s sovereign wealth fund and its central bank, prosecutors said on Friday. Switzerland’s Attorney General opened criminal proceedings in April in response to the reports connected with… Read More
23rd May 2018
A partner at a City law firm has landed in trouble for allegedly failing to comply with anti-money laundering rules in a case linked to the Panama Papers and a wealthy politically-connected family. Child & Child’s Khalid Mohammed Sharif is understood to be linked to the setting up of an… Read More
22nd May 2018
AP — The British Parliament’s foreign affairs committee slammed the government Monday for “turning a blind eye” to the role London’s financial center plays in laundering the proceeds of Russian corruption, saying it helps the Kremlin finance its aggressive foreign policy. Despite the government’s tough rhetoric after the… Read More
21st May 2018
AP — In 10 days of dramatic political developments, none has transfixed Malaysians more than the sight of truckloads of orange boxes containing Hermes Birkin handbags and luggage filled with cash and jewelry being seized from apartments linked to former Prime Minister Najib Razak. Najib’s wife, Rosmah Mansor, was… Read More
18th May 2018
Lloyds Banking Group is looking to roll out a new scheme to combat money muling and also return money to victims of the scams. The British bank is to launch a trial of its strategy, which it said involves using new techniques to spot tell-tale signs, patterns and behaviour,… Read More
17th May 2018
A former president of El Salvador will go on trial on charges of embezzlement and money laundering involving more than $300 million, a tribunal in the Central American nation decided on Wednesday. A San Salvador judge said Antonio Saca, who was president from 2004 to 2009, and six other former… Read More
15th May 2018
The Council of the European Union has adopted new rules aimed at combating money laundering and terrorism financing across the bloc following an agreement with the European Parliament in December. Dubbed the Fifth EU Anti-Money Laundering Directive (5AMLD), the law makes key changes to the previous directive, such as now… Read More