Real Estate
17th May 2021
The real estate and construction sectors are being used to launder illicit money from the drugs trade and migrant trafficking in the Western Balkans, leading to a hike in property prices, according to a report by the Global Initiative Against Transnational Organised Crime. Laundering money through construction and real estate… Read More
14th May 2021
By Ruslan Myatiev and Bayram Shikhmuradov, OCCRP, 13 May 2021 OCCRP — Every day across Turkmenistan, hungry citizens line up for hours to buy small amounts of subsidized food amid an economic meltdown. Ruled by a closed circle of corrupt autocrats, Turkmenistan has spent decades isolated from the… Read More
13th May 2021
AP — The main suspect in the Vatican’s corruption investigation into a London real estate venture was taken into custody Tuesday in London after he appeared for his first extradition hearing, his lawyers said. The British judge determined businessman Gianluigi Torzi was a flight risk and ordered… Read More
12th May 2021
By Katya Bleszynka, Insight Crime, 10 May 2021 InSight Crime — Millions of dollars in state funds were allegedly laundered through a religious non-profit in the Dominican Republic, showing how minimal oversight of these faith groups makes them ideal vehicles for embezzlement. On May 10, security… Read More
10th May 2021
A former millionaire developer has been charged with stealing and laundering more than €200,000 as part of a property registration fraud. Businessman Philip Marley (49) appeared in court accused of fraud in the registration of ownership of two Dublin properties, and transferring criminal proceeds. Judge Victor Blake granted him bail and… Read More
6th May 2021
When it comes to German corporate fraud, Wirecard has been hogging the headlines for a while. But there’s another German company that has plummeted to Earth after a more than €1 billion hole emerged in its accounts. Except unlike with Wirecard, this was money that once… Read More
5th May 2021
Laundering dirty money through luxury purchases made in cash has become a tad harder since cash transactions of €10,000 and higher were made illegal last March. The cash restriction was introduced as part of wide-ranging reforms to combat money laundering. And now the Financial Intelligence and Analysis Unit has set the… Read More
4th May 2021
An anti-corruption group has submitted a legal complaint in France against Lebanon’s central bank governor over foreign investments including property he owns worth millions of euros, two people involved in the filing said on Monday. Sherpa, a non-governmental organisation that defends victims of economic crimes, said in a statement that… Read More
4th May 2021
Over the past few years, the problem of Chinese Underground Banking has grown exponentially across the globe including here in the UK, states the National Crime Agency (NCA). As a form of informal value transfer system (IVTS), Chinese Underground Banking is commonplace within the Chinese community. Involving the transfer of… Read More
29th April 2021
Matthew Page, an associate fellow of London-based Chatham House, an international affairs think tank, has advised investigators to focus on real estate and education sectors, when tracking illicit financial flows and money laundering. He gave the advice in a paper he presented entitled, ‘IFFs through the real estate and education… Read More