Trust & Corp Svcs
4th June 2021
The Qatari state has been accused of playing a central role in a secret money laundering operation to send hundreds of millions of dollars to jihadists in Syria. A claim issued this week at the High Court in London alleges that a private office of the Gulf state’s monarch was… Read More
4th June 2021
For many in the West, the notion of kleptocracy—of transnational money laundering tied to oligarchs and authoritarians bent on washing billions of dollars in dirty money—remains a foreign concept. It conjures images of oligarchs purchasing penthouses in Manhattan or regime insiders floating aboard yachts along the French Riviera or maybe even the… Read More
3rd June 2021
The United States has sanctioned three Bulgarian individuals, including a power broker and a gambling tycoon, and dozens of companies they allegedly own or control for their “extensive roles” in corruption in the Southeast European country. The Department of the Treasury said in a statement on June 2… Read More
2nd June 2021
Hundreds of tiny companies based in Scotland and with directors in the Philippines have been reported to police over concerns about an alleged multimillion pound tax fraud scheme. New research estimates that about 600 “mini-umbrella” companies have been set up to take advantage of the employment allowance, which was designed… Read More
2nd June 2021
Czech police have asked for Prime Minister Andrej Babis to be charged with fraud, following an investigation into alleged misuse of European Union subsidies, according to a statement released on Monday. The criminal unit of the Economic Crime Department of the Prague Police has concluded its investigation into the case… Read More
1st June 2021
The UAE’s Ministry of Economy has started a campaign to ensure that more than 500,000 non-financial businesses in the country submit data on their ultimate beneficiaries. Property brokers, account auditors, dealers of precious metals and gemstones and corporate services providers are being encouraged to register the required data before the… Read More
31st May 2021
Belgian and Latvian authorities have seized Russian assets in a notorious money-laundering affair that saw the killing of whistleblower Sergei Magnitsky. A Belgian investigating judge, Bruno de Hous, seized some €400,000 from the proceeds of an apartment sale in the Belgian city of Antwerp. He also charged two Russians –… Read More
31st May 2021
Economists, legal practitioners as well as other professionals and civil society organisations have expressed concerns over the poor management of returned looted funds, especially the money stolen by former Head of State, Gen. Sani Abacha. Disturbed by increasing wave of corruption across the country, despite the much-talked about anti-corruption campaign… Read More
28th May 2021
Malta has demonstrated “significant progress” in fighting money-laundering and terrorism financing, an assessment by Moneyval has found. The Council of Europe anti-money laundering body said on Thursday that Malta has succeeded to meet general expectations after a raft of deficiencies were first identified by Moneyval in 2019. The country has… Read More
27th May 2021
That anonymous shell companies are the vehicle of choice for the corrupt and criminals is no longer a secret. New cases of cross-border corruption and money laundering are reported almost on a weekly basis, where perpetrators often hide behind secretive corporate structures. The European Union has been lauded for its… Read More