Trust & Corp Svcs
19th July 2021
An evaluation by global organisation Financial Action Task Force (FATF) to analyse the effectiveness of India’s anti-money laundering and countering terrorist financing regime has been postponed for the second time in view of the ongoing COVID-19 pandemic and is now slated to be initiated next year, officials said. The… Read More
16th July 2021
What links an Italian broker accused of extorting the Vatican, South African brothers accused of absconding with bitcoin worth more than $3bn from their investors and a disgraced Turkish banking mogul who served time for harbouring his nephew after a murder? They all recently became citizens of… Read More
15th July 2021
A controversial “golden passports” scheme run by the Pacific nation of Vanuatu saw more than 2,000 people, including a slew of disgraced businesspeople and individuals sought by police in countries all over the world, purchase citizenship in 2020 – and with it visa-free access to the EU and UK,… Read More
14th July 2021
By Elena Debre, OCCRP, 13 July 2021 OCCRP — The United Kingdom has long been known as a hotspot for hiding dirty money, and London has even been dubbed the money laundering capital of the world. A new report issued last week has now detailed how… Read More
14th July 2021
Getting off the money-laundering grey list might take longer than Maltese authorities hope as it will be difficult to prove effective enforcement in certain “tricky” areas, a leading international expert has warned. Giuseppe Lombardo, who has evaluated several countries as a senior assessor for MoneyVal, told a conference of local… Read More
13th July 2021
When President Biden signed Executive Order (E.O.) 14024 in April, there were likely more than a few eyebrows raised within the compliance community. For one, the order, which authorized the imposition of sanctions on Russian interests for “specified harmful foreign activities”, marked a departure from the previous administration’s response to the alleged… Read More
1st July 2021
By Cecilia Anesi, Margherita Bettoni and Giulio Rubino, OCCRP, 30 June 2021 OCCRP — On an October evening in 2018, as Sebastiano Giorgi and a Romanian associate skipped and swayed at a fancy Stuttgart nightspot, they were blissfully unaware that their every move was being eyed… Read More
1st July 2021
More than 500,000 firms in the United Arab Emirates (UAE) must disclose their ultimate owners from Wednesday or face penalties, as the Middle East financial hub tries to avoid inclusion on a dirty money watchlist. However, under legislation passed last year beneficial and legal ownership data will only be disclosed… Read More
1st July 2021
Details of a HSE unit, dozens of legitimate businesses and even the Companies Registration Office itself are being used by fraudsters to set up an alarming web of hundreds of bogus companies here, an ongoing Irish Independent investigation has found. There’s now growing evidence of an organised fraud network that… Read More
30th June 2021
The Financial Action Task Force (FATF) on Tuesday outlined guidance for national supervisors, banks and other firms on how to identify and mitigate their exposure to the funding of weapons of mass destruction. The guidance follows the intergovernmental organization’s formal adoption in October of revisions to its Recommendation… Read More