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UK Blacklists Five Individuals Accused of Exacerbating Suffering Through Corruption

The United Kingdom on Thursday imposed asset freezes and travel bans on five individuals accused of enriching themselves from illicit schemes that worsened human suffering in Equatorial Guinea, Zimbabwe, Venezuela and Iraq. The sanctions announced by UK Foreign Secretary Dominic Raab under the nation’s Global Anti-Corruption sanctions regime target Equatorial Guinea’s… Read More

MPs demand answers over closure of bank accounts

MPs are investigating banks over complaints that the accounts of innocent customers have been closed during a crackdown on money laundering. Mel Stride, chairman of the Treasury select committee, has written to Nikhil Rathi, chief executive of the Financial Conduct Authority, raising concerns over reports of account closures at NatWest… Read More

Banks under more scrutiny in new US advisory on Xinjiang

The US government has signalled extra scrutiny banks over supply chains that include forced labour in the Chinese province of Xinjiang. An updated business advisory published by several US government departments on July 13 dedicates much greater attention to the role of banks and other financial institutions compared to the… Read More

23rd July 2021

El Salvador orders arrest of ex-president Sanchez Ceren in graft probe

El Salvador has ordered the arrest of former president Salvador Sanchez Ceren and nine top officials from a past administration as part of a money laundering and corruption probe, the Attorney General’s office said on Thursday. The office said Sanchez Ceren was out of the country, but five former high-ranking… Read More

23rd July 2021

The UK has been linked to Congo’s ‘conflict minerals’ – where are the criminal charges?

According to the Swiss federal criminal court last week, the corruption destroying the Democratic Republic of the Congo – where devastating conflicts over minerals used in our electronics have killed more than six million people – is inextricably linked to the UK, Gibraltar and Switzerland. It was… Read More

23rd July 2021

FirstEnergy to pay $230M in agreement in Ohio bribery case

AP — The energy giant at the center of a $60 million bribery scheme in Ohio admitted Thursday to using dark money groups to fund the effort, and agreed to pay $230 million and other conditions so prosecutors won’t forge ahead with a criminal case against the… Read More

22nd July 2021

Slovenia risks court over EU anti-graft office

Slovenia now risks court action unless it rapidly appoints two prosecutors to the recently-established EU watchdog tasked to fight financial crimes. “We will think about a possible procedure before the court,” EU justice commissioner Didier Reynders said on Tuesday (20 July). Slovenia is currently at the helm of the rotating… Read More

22nd July 2021

UK Global Human Rights Sanctions: Year One in Numbers

Launched with fanfare one year ago on 6 July 2020, the UK’s Global Human Rights Sanctions regime gave the foreign secretary the ability to sanction persons implicated in human rights abuses anywhere across the globe. Announcing the programme, Dominic Raab asserted, ‘This is a demonstration of Global Britain’s… Read More

22nd July 2021

5 reasons money launderers won’t worry about EU crackdown

Brussels has set its sights on dirty money. The European Commission on Tuesday unveiled a massive package of anti-money laundering initiatives to drive dirty money out of the bloc after repeated failures in supervision. The crowning feature of the four-pronged package is a plan to introduce a new… Read More

22nd July 2021

TSB agrees to $3.85m penalty for money-laundering failures

TSB has agreed to pay $3.85 million in penalties after acknowledging it failed to comply with rules designed to prevent the bank being used for money-laundering. TSB and the Reserve Bank, which polices anti-money laundering (AML) rules, presented the settlement for approval by the High Court in Wellington on Thursday,… Read More

22nd July 2021

The Bribery Act has raised corporate standards

Legislation to streamline the UK’s anti-corruption laws and sweep away a myriad of disparate archaic offences was introduced by the coalition government in 2010. But in the week when fraud investigators have struck two more deferred prosecution agreements with corporations, views are mixed as to whether the Bribery Act… Read More

22nd July 2021

Miami case reveals black market for high-priced prescription drugs. It took in $78 million

In November 2013, Miami-Dade police officers conducted a routine search of a Kendall house and left with a batch of pharmaceuticals. Over the next six years, that seemingly small-time operation would blow up into an elaborate $78 million prescription drug and money-laundering scheme tapping into what U.S. authorities describe as… Read More

22nd July 2021

Mexico’s $300 million in spyware spending included kickbacks: FIU chief

AP — Mexico’s top anti-money laundering investigator said Wednesday that officials from previous administrations from 2012 to 2018 spent about $300 million in government money to purchase spyware from the Israeli spyware firm NSO Group. The bills for programs like the Pegasus spyware appear to have included… Read More

Must Read

UK Blacklists Five Individuals Accused of Exacerbating Suffering Through Corruption

MPs demand answers over closure of bank accounts

Banks under more scrutiny in new US advisory on Xinjiang

El Salvador orders arrest of ex-president Sanchez Ceren in graft probe

The UK has been linked to Congo’s ‘conflict minerals’ – where are the criminal charges?