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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

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

Belgium Is Pushing to Dilute the EU’s Belarus Potash Sanctions

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
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
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
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
By Henry Pope OCCRP, 14 October 2021 OCCRP — A former chief executive officer (CEO) of Braskem S.A., a Brazilian petrochemical company, was sentenced in a New York court on Tuesday to 20 months in prison for his role in a conspiracy to use US$250 million of his… 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
14th October 2021
The U.S. Department of Justice (DOJ) announced Tuesday that the owners of a cryptocurrency company have pleaded guilty to tax evasion. Bitqyck founders Bruce Bise and Samuel Mendez were charged with tax evasion in August. Bise pleaded guilty on Sept. 9 and Mendez pleaded guilty Tuesday morning. By Kevin Helms,… Read More