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Money laundering more prevalent in real estate than anywhere else

Money laundering finds many avenues. Money gained from illicit activities by terrorists, drug lords, arms dealers and other criminals is washed through car sales, yacht purchases, jewelry and art acquisitions, and deposits in banks that — wink, wink — look the other way, even in sports betting. But perhaps nowhere… Read More

Stop the kleptocrats feasting at our expense

If you are surprised by the Pandora papers, and their revelations of greed and murk in the private affairs of the super-rich and super-powerful, you are not paying attention. Previous P-themed tranches of documents — Panama (2016) and Paradise (2017) — showed just the same thing. Campaigners huffed, politicians puffed. Read More

UK urged to tackle ‘dirty money’ after leaked Pandora papers

AP — Britain’s Conservative government is facing calls to tighten the country’s defenses against “dirty money” after a massive leak of offshore data showed how London, in particular, is the destination of choice for some of the world’s richest and most powerful people to conceal their cash. Read More
5th October 2021
By Miranda Patrucic, Ilya Lozovsky, Kelly Bloss, and Tom Stocks, OCCRP, 3 October 2021 OCCRP — For centuries, London has been one of the world’s top destinations for shopping, dining, and good living. And a development boom over the last few decades has only expanded the range… Read More
30th September 2021
The U.K.’s Serious Fraud Office is investigating the Alpha and Green Park group of companies for suspected fraud and money laundering following a dawn raid, the prosecutor said in a statement. By Ellen Milligan, Bloomberg, 29 September 2021 Read more at Bloomberg RiskScreen: Eliminating Financial… Read More
13th September 2021
The Paris appeals court on Thursday backed a guilty verdict against Syrian President Bashar al-Assad’s uncle for misappropriating public funds in Syria, laundering the spoils and building a vast property portfolio in France with ill-gotten gains. The court confirmed last year’s four-year prison sentence against 84-year-old Rifaat al-Assad, which he… Read More
7th September 2021
Financial intelligence regulator AUSTRAC has assessed the four major banks as the highest risk for vulnerability and criminal exploitation of any banking institutions in Australia in a series of risk assessments published on Monday. The feared financial regulator says the criminal environment facing the banks is complex and extensive, exposing… Read More
3rd September 2021
By Tom Keatinge and Isabella Chase, RUSI, 25 August 2021 RUSI — Despite years of technical efforts led by the Financial Action Task Force (FATF), the global anti-financial crime standard setter, the challenge of illicit finance endures. In fact, its impact seems ever more insidious. Illicit finance is not… 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
OCCRP – With the support of Interpol, French police has this year started cracking down on a Russian-speaking mob, the so-called Vory v Zakone or “Thieves-in-Law,” which often controls groups committing drug trafficking, extortion, contract murder and money laundering. The mob’s members come from countries of the… Read More
31st August 2021
The TSB Bank has been penalised $3.5 million for breaches of anti-money laundering rules. The Reserve Bank (RBNZ) brought the case after TSB failed to fix faults in its systems that it was warned about in 2016, with what the RBNZ called an “inadequate and ineffective” effort to fix… Read More
24th August 2021
The Malta Business Registry and the Financial Intelligence Analysis Unit have signed an agreement to share information and collaborate on investigations into the ultimate beneficial ownership of financial structures, in a bid to get Malta off an anti-money laundering grey list. Shortcomings in acting on this sort of information was… Read More
23rd August 2021
The main themes during the federal election campaign are the country’s financing, the COVID-19 pandemic and climate change, but the parties also have on their agenda efforts to tackle money laundering. Erin O’Toole’s Conservatives say they will implement comprehensive changes to the legislation that governs money laundering and give the… Read More