Money Laundering
24th April 2018
The European Commission has published plans to protect workers who blow the whistle on a wide range of EU law breaches, including money laundering, terrorist funding and financial services legislation. Currently, protection given to whistleblowers across the EU is fragmented and uneven,… Read More
23rd April 2018
Arab countries have finalised plans to create an independent, regional cross-border payments system after current arrangements were hit by a rise in compliance costs and downsizing by some international banks. At present, many cross-border payments and settlements among Arab countries are carried out by correspondent banks, which act as agents… Read More
23rd April 2018
The Financial Conduct Authority is to forge ahead with an initiative exploring the use of machines in financial crime programmes, according to its 2018/19 business plan. The watchdog is looking to host an international event focusing on the machine-led approach in the fight against money laundering, part of its broader… Read More
20th April 2018
Spain’s High Court on Thursday placed Caixabank under formal investigation over allegations that the Spanish bank was involved in laundering almost 100 million euros ($123.80 million) for alleged Chinese criminals. The court said in a written ruling that the investigation stemmed from a separate investigation into China’s largest bank, ICBC,… Read More
20th April 2018
HMRC bosses are set to appear before a parliamentary committee over allegations the organisation was reluctant to raid Lycamobile because it was a major donor to the Conservative party. A spokesman for the Treasury Select Committee said it will speak to top officials from the UK’s tax office about… Read More
20th April 2018
Three men accused of the murder of an anti-corruption journalist six months ago must stay in prison until their trial, a Maltese magistrate ruled on Thursday. Brothers Alfred Degiorgio and George Degiorgio and Vince Muscat were arrested in early December, after a car bomb killed Daphne Caruana Galizia as she… Read More
18th April 2018
The European Commission has outlined new measures aimed at providing law enforcement and judicial authorities with wider access to vital evidence and information in financial crime cases. The rules provide for direct access to bank account information for law enforcement authorities and asset recovery offices, contained in national, centralised registries. Read More
17th April 2018
AP — A co-founder of the classified advertising site Backpage.com who has been jailed for the last 10 days on charges of facilitating prostitution was released on a $1 million bond Monday as he awaits trial. At a brief hearing at a federal courthouse in Phoenix, James Larkin was ordered… Read More
17th April 2018
The Angolan government has received half a billion dollars that was ‘improperly’ transferred from its central bank’s Standard Chartered Bank account to an HSBC account in the United Kingdom. The move comes after the UK National Crime Agency (NCA) recently confirmed that the necessary authority had been obtained for the… Read More
13th April 2018
The half a billion US dollars that landed in a HSBC account in the United Kingdom came from the Angolan central bank’s account with Standard Chartered Bank, it has emerged. HSBC froze the funds and filed a suspicious activity report with the UK’s National Crime Agency (NCA), which went… Read More