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UK Blacklists Five Individuals Accused of Exacerbating Suffering Through Corruption

The United Kingdom on Thursday imposed asset freezes and travel bans on five individuals accused of enriching themselves from illicit schemes that worsened human suffering in Equatorial Guinea, Zimbabwe, Venezuela and Iraq. The sanctions announced by UK Foreign Secretary Dominic Raab under the nation’s Global Anti-Corruption sanctions regime target Equatorial Guinea’s… Read More

MPs demand answers over closure of bank accounts

MPs are investigating banks over complaints that the accounts of innocent customers have been closed during a crackdown on money laundering. Mel Stride, chairman of the Treasury select committee, has written to Nikhil Rathi, chief executive of the Financial Conduct Authority, raising concerns over reports of account closures at NatWest… Read More

Banks under more scrutiny in new US advisory on Xinjiang

The US government has signalled extra scrutiny banks over supply chains that include forced labour in the Chinese province of Xinjiang. An updated business advisory published by several US government departments on July 13 dedicates much greater attention to the role of banks and other financial institutions compared to the… Read More
23rd July 2021
MPs are investigating banks over complaints that the accounts of innocent customers have been closed during a crackdown on money laundering. Mel Stride, chairman of the Treasury select committee, has written to Nikhil Rathi, chief executive of the Financial Conduct Authority, raising concerns over reports of account closures at NatWest… Read More
22nd July 2021
Slovenia now risks court action unless it rapidly appoints two prosecutors to the recently-established EU watchdog tasked to fight financial crimes. “We will think about a possible procedure before the court,” EU justice commissioner Didier Reynders said on Tuesday (20 July). Slovenia is currently at the helm of the rotating… Read More
21st July 2021
EU policymakers proposed a new agency on Tuesday to stop financial firms from aiding criminals and terrorists after a scandal at a Danish bank highlighted the inadequacy of the bloc’s defences. Europe came under pressure to step up enforcement of its anti-money laundering rules when several countries began investigating Danske… Read More
21st July 2021
The Biden administration on Tuesday designated former Honduran President Porfirio “Pepe” Lobo Sosa and his wife, former first lady Rosa Elena Bonilla Avila, for their involvement in “significant corruption” while in office, barring them from entry to the United States. Secretary of State Antony Blinken announced the designations in… Read More
20th July 2021
The thwarted takeover of a troubled Italian bank in 2018 will come into focus in a forthcoming Vatican trial that is tied to Pope Francis’s efforts to clean up Holy See finances after decades of scandals. Weakened by mismanagement and bad loans, Carige bank was placed under special administration by… Read More
19th July 2021
Innocent customers are having their accounts closed, funds frozen and large transactions blocked as panicking banks try to crack down on crime. Regulators have become increasingly concerned that criminals are taking advantage of weaknesses in bank systems. They want banks to be more robust in monitoring transactions, large money transfers… Read More
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
16th July 2021
Major cryptocurrency exchange Binance is not authorised to carry out activities in Italy, the country’s market watchdog said on Thursday, joining a string of global regulatory moves against the platform. Binance Group companies are not authorised to provide investment services and activities in Italy, even via the exchange’s main website… Read More
15th July 2021
AP — A former Albanian deputy interior minister has been arrested on corruption accusations, authorities said Tuesday. A statement from the Special Structure Against Corruption and Organized Crime said Rovena Voda, deputy interior minister from 2017 until 2020, was put under house arrest over allegations she… Read More