Banking
3rd September 2021
A network of “corrupt government officials” have set about draining Pilatus Bank of all its assets, lawyers for the bank’s parent company Alpene Limited have claimed. The bank’s former chairman Ali Sadr is the sole director of the Hong Kong-based Alpene. In US court documents filed a few days ago,… Read More
3rd September 2021
When the former prime minister of Thailand, Thaksin Shinawatra, received Montenegrin citizenship in return for investing millions of euros in 2010, the government declared that it would kick-start large-scale foreign investments in the Adriatic country’s tourism sector. But even though Shinawatra invested 24 million euros in St. Nicholas Island on… Read More
2nd September 2021
Not even the most pessimistic predictions anticipated the speed with which the Taliban would overrun the incumbent regime in Afghanistan, but it was always certain that the US military withdrawal would leave the government and its military exposed. So, one would imagine that a range of contingencies across different dimensions… Read More
2nd September 2021
By Parker Asmann, InSight Crime, 1 September 2021 InSight Crime — The Mexican government is highlighting a record number of remittances sent back to the country by citizens living in the United States this year amid the COVID-19 pandemic, but organized crime groups have long exploited these transfers… Read More
2nd September 2021
The United States last week issued a license authorizing it and its partners to continue to facilitate humanitarian aid in Afghanistan, a Treasury Department official told Reuters, after the Taliban, which is blacklisted by Washington, seized control of the country this month. The specific license, issued by the Treasury Department… Read More
2nd September 2021
Australian banking customers may soon be able to attach a PDF or a hyperlink to a payment, with the Reserve Bank of Australia (RBA) signalling work is underway for such a feature. “The Australian banking industry is in the process of developing a service to enable large payers, such as… Read More
2nd September 2021
India’s Enforcement Directorate (ED) questioned leading Telugu film director Puri Jagannadh for nearly 10 hours on Tuesday in connection with a money-laundering probe linked to a four-year-old drug case. Jagannadh, who, along with his chartered accountant, appeared before ED officials after he was summoned in connection with the probe, left… Read More
2nd September 2021
By Ashley Pechinski, InSight Crime, 1 September 2021 InSight Crime — The increasing use of an instant money transfer app is driving express kidnappings in the Brazilian city of São Paulo – a crime that now requires no more than a password and a push of a… Read More
1st September 2021
The UK’s financial watchdog is warning banks to review their potential exposure to financial crime in Afghanistan amid fears of resurgent terrorist activity in the country following the withdrawal of foreign troops. Hours after the last evacuation flight left Kabul airport, the Financial Conduct Authority issued a notice… Read More
1st September 2021
Pilatus Bank has been fined a record €4.9 million for a “serious and systemic failure” to follow anti-money laundering laws at the now-shuttered bank. In a notification on its website, the Financial Intelligence Analysis Unit (FIAU) on Tuesday said the bank’s lax approach to due diligence on its customers… Read More