Jurisdictions
13th October 2021
Anti-money laundering agency Austrac has obtained internal reports from The Star that reveal how the listed gaming giant failed to confront money laundering and terrorist financing risks in its Sydney and Queensland casinos. The move to compel The Star to hand over the confidential documents, including some prepared for the… Read More
13th October 2021
Iraq says it has captured the jihadist group Islamic State’s financial chief in an operation outside its borders. Sami Jasim al-Jaburi was arrested in a “complex external operation” by the Iraqi National Intelligence Service, Prime Minister Mustafa al-Kadhimi tweeted, without specifying a location. He added that Mr Jasim, also known… Read More
13th October 2021
The Supreme Court has agreed to examine the legal issue of whether the Enforcement Directorate can attach ancestral properties of the accused under the Prevention of Money Laundering Act (PMLA) as “proceeds of crime“. he question came up for consideration before the top court on an… Read More
12th October 2021
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
12th October 2021
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
12th October 2021
It’s an economist’s conundrum: global capital, instead of flowing from rich countries to poor countries, actually moves in the other direction. Each year hundreds of billions of dollars leave developing countries and land in the coffers of rich countries like Switzerland. An “unprecedented” $160 billion (CHF149 billion) – about the… Read More
12th October 2021
It has taken weeks of discussions to get an interview with him, and he’s still worried about who might be listening. He wears dark glasses for the camera, and only two of our team know what we think is his real name. Mr Kim spent 30 years working his way… Read More
11th October 2021
Listed gaming giant Star Entertainment has been enabling suspected money laundering, organised crime, large-scale fraud and foreign interference within its Australian casinos for years, even though its board was warned its anti-money-laundering controls were failing. Between 2014 and 2021, Star cultivated high-roller gamblers who are allegedly associated with criminal or… Read More
11th October 2021
The Treasury is to overhaul the role of financial regulators to ensure they do more to boost the international competitiveness of the City after Brexit. John Glen, the City minister, told insurers and banks this week that regulators including the Financial Conduct Authority needed to “smell the… Read More
11th October 2021
SA has been given 18 months to improve its capacity to track and prosecute money laundering and terrorist financing or face “greylisting” by the Financial Action Task Force (FATF), the international body that develops and monitors policy to combat financial flows of organised crime and terrorism. Greylisting by the FATF… Read More