Trust & Corp Svcs

Featured Trust & Corp Svcs

Prince Charles’s charities investigated over controversial donation from Russian banker

Prince Charles has become embroiled in a fresh donations scandal, after it emerged a Russian businessman previously convicted of money laundering tried to donate half a million pounds to his charities. The heir to the throne wrote a fulsome thank you letter to Dmitry Leus last year… Read More

UK: Ex-adviser Richard Faithfull jailed after laundering money for organised crime group

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

Álex Saab, Venezuela’s Keeper of Financial Secrets, Approved For Extradition to US

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
By Martin Williams, openDemocracy, 6 September 2021 openDemocracy — Twenty-four members of the House of Lords have been placed under investigation, after openDemocracy revealed they had not declared details of companies that they run. The Standards Commissioner today launched an official probe into the lords –… Read More
6th September 2021
By Henry Pope, OCCRP, 4 September 2021 OCCRP — After having been criticized for being a tax haven, Luxembourg’s Ministry of Justice will put forward a draft bill aimed at allowing authorities to sanction those who use the country’s financial system for money laundering and tax evasion. The… 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
24th August 2021
Last week, the Taliban effectively took control of most of Afghanistan. This has naturally led to questions about how the group managed to do it—and about how they were funded. Researchers do have a high-level understanding of how the Taliban raise funds, but much less is known about how the… 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
19th August 2021
Law enforcement authorities will be empowered to crack down on the kingpins of animal trafficking after Hong Kong’s legislature passed a bill to consider wildlife smuggling an organised crime on Wednesday. The amendment to the Organised and Serious Crimes Ordinance (OSCO), proposed by lawmaker Elizabeth Quat earlier this year, will… Read More
16th August 2021
Zimbabwe’s government is pressing ahead with a plan to combine its mining assets under a massive private-public enterprise, even as evidence mounts that the project could be linked to a tycoon sanctioned by the U.S. and U.K. Previously unreported documents, including correspondence among executives and shareholders, show that weeks after… Read More
13th August 2021
Hamas has a secret overseas investment portfolio worth more than $500 million, documents seen by a German newspaper have suggested. The investments include interests in about 40 international companies controlled by Hamas in the Middle East and North Africa, Die Welt reported. The newspaper said it saw documents from… Read More
13th August 2021
Businesses registered at some UAE free zones are getting penalty notices for failing to register with updated anti-money laundering (AML) regulations. Further delays in getting themselves registered will expose them to some heavy fines. This is part of the UAE’s zero-tolerance policy on money laundering or other proscribed activities. “Some… Read More
11th August 2021
BitMEX, one of the world’s largest virtual currency derivatives exchanges, has agreed to pay up to $100 million to settle U.S. charges of unlawfully accepting customer funds to trade cryptocurrencies when it was not registered to do so as well as failure to conduct customer due diligence. The U.S. Commodity… Read More