News Filter
17th October 2016
The Sabah Water Department deputy director and two others suspected of involvement in a multimillion ringgit graft scandal were released from remand today. They were released before Magistrate Stephanie Sherron Abie, who set bail at RM500,000 for the deputy and his brother, who is a businessman with the title of… Read More
17th October 2016
The $12.9 billion sale of India’s Essar Oil to a group led by Russia’s Rosneft does not run foul of U.S. sanctions imposed against the majority state-owned Russian energy firm, parent Essar Group’s CEO said on Sunday. The sale, which was signed on Saturday. It is the biggest foreign acquisition… Read More
17th October 2016
There has been a 40% jump in the number of suspicious financial transactions reported to the authorities in the last two years, according to Ireland’s first money-laundering report. The National Risk Assessment for Ireland also said that 32 prosecutions for money laundering were taken between 2011 and 2015. The document… Read More
17th October 2016
Roughly 15 Swiss banks are in a “red zone” of lenders particularly exposed to money laundering risks, the head of Swiss banking watchdog FINMA said in a newspaper interview published on Sunday. Swiss federal prosecutors last week said that they have opened criminal proceedings against Zurich-based Falcon Private Bank for… Read More
14th October 2016
The biggest acquisition in the asset-management industry this year began with a casual conversation between chief executive officers in February about how firms in Europe will be forced to charge their clients for managing money. The deal — a $2.6 billion merger between Henderson Group Plc and Janus Capital Group… Read More
14th October 2016
The Obama administration, in its latest bid to prevent American companies from minimizing U.S. taxes by rebasing abroad, issued final rules on Thursday to combat a key tax-reduction technique known as earnings stripping. Six months after proposing the regulations, the U.S. Treasury made good on its pledge to move swiftly… Read More
14th October 2016
Companies will face criminal charges if they fail to prevent their staff getting involved in tax evasion, under proposed legislation designed to strengthen the UK’s anti money laundering, corruption and terrorism financing regime, and protect the UK’s economy and reputation The Criminal Finances Bill, which was published yesterday, will… Read More
14th October 2016
A federal judge in Brazil has ruled that former President Luiz Inacio Lula da Silva will face further criminal charges. He said there was sufficient evidence for a trial to go ahead. Prosecutors accuse Lula of involvement in an alleged bribery scheme related to work by the construction giant,… Read More
14th October 2016
South Africa’s anti-graft watchdog has deferred release of a report into allegations of political interference by wealthy friends of Jacob Zuma in a move critics of the president fear could lead to a watering down of its conclusions. A court application by Zuma had obliged Thuli Madonsela, head of the… Read More
14th October 2016
The corporate regulator has reluctantly agreed to provide a parliamentary committee with the names of life insurers which have the highest rates of rejecting claims – but only in private. After being pressed on why the corporate watchdog would not reveal the names of the insurers, Australian Securities and… Read More