Banking
10th September 2021
The UK Foreign Office is to hold urgent meetings with banks, financial institutions and NGOs to clarify how to provide humanitarian aid to Afghanistan without breaching US or UN counterterror sanctions. The takeover of the country by the Taliban, which is internationally designated as a terrorist organisation, presents a… Read More
10th September 2021
Fraud squad detectives are continuing to question a man who was arrested yesterday and is suspected of setting up a bogus construction company for the purpose of laundering money for an international crime gang. The Moldavan national is the second suspect to be arrested in relation to the bogus company… Read More
10th September 2021
A former investment adviser has been sentenced to five years and ten months in prison for money laundering as part of an organised crime group. Richard Faithfull was convicted of laundering £2.5m as part of a trans-national crime group over a period of at least 12 months. He was also disqualified from being a… Read More
10th September 2021
China’s top anti-corruption agency has detained a senior banker from a leading policy bank for investigation, it said. The Communist Party’s Central Commission for Discipline Inspection (CCDI) said on Thursday that He Xingxiang, vice-president of China Development Bank (CDB) and a member of its party committee, was under… Read More
9th September 2021
The Anti-Money Laundering Council (AMLC) has ordered banks and other financial institutions to include in their suspicious transaction reports (STRs) the identities of the beneficial owners or account holders as the country continues to ramp up its fight against money laundering and terrorist financing. In an advisory, the country’s sole… Read More
8th September 2021
There are optimistic suggestions that the hard-won integration of Afghanistan into the global economy will remain despite the ascendancy of the Taliban and the withdrawal of the U.S. A number of commentators have suggested that China — which the Taliban have declared their strongest ally — could… Read More
8th September 2021
Police in Hong Kong and mainland China have arrested 22 people in a joint operation against a cross-border syndicate suspected of using 85 local bank accounts to launder HK$740 million (US$95.2 million) in criminal proceeds over the past 17 months. A little over a third of the money was stolen… Read More
8th September 2021
The Pretoria High Court this week issued a provisional restraint order to the tune of R1.4 billion against corruption-accused former senior Eskom official France Hlakudi, businessman Hudson Kgomoeswana as well as former major Eskom contractor Tubular Construction Projects, its CEO, Tony Trindade, and his wife – freezing their assets and… Read More
8th September 2021
By Seth Robbins, InSight Crime, 7 September 2021 Insight Crime — A court in Cabo Verde has approved the extradition to the United States of Colombian businessman Álex Saab, who may hold key information on alleged money laundering schemes involving Venezuelan President Nicolás Maduro and other top… Read More
8th September 2021
Luxembourg’s tax authority is acting well within its rights when it sends letters to residents stating that it suspects they have potential undeclared foreign income, Finance Minister Pierre Gramegna has said, despite the country struggling to shake off its own reputation as a tax haven. Such correspondence, issued by the… Read More