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UK: Over £5.5bn of Covid support funds lost to fraud or error

More than £5.5bn of taxpayer money from the government’s coronavirus assistance schemes including furlough, self-employed support and “eat out to help out” was paid out to fraudsters or given out incorrectly. It emerged on Thursday that £5.2bn paid out by the government under the coronavirus job retention scheme, widely known… Read More

Embracing technology and innovation in Compliance and Risk Management – A Perspective from MAS

T. S. Elliot’s words from 1934 continue to ring true, in the current age of innovation and big data. We are collecting much more data – the foundation of any decision making, because of improving technologies, changing business needs, to satisfy regulatory requirements and to enhance risk management capabilities in… Read More

Chinese Police Make First Arrest For CBDC Money Laundering

Chinese officials have arrested members of a criminal group charged with alleged money laundering using the country’s CBDC, the digital yuan. The news implies the Chinese government and law enforcement will have greater control and oversight over financial activities in the country with its CBDC. By Tim Fries, The… Read More

21st October 2021

FBI raids Washington mansion linked to Russian billionaire Oleg Deripaska

The FBI on Tuesday raided a Washington mansion linked to the billionaire Russian oligarch Oleg Deripaska, as part of what media reports described as a “court-authorised search”. House Capitol attack committee votes to recommend Steve Bannon prosecution – as it happened Read more Agents could… Read More

10th August 2021

The Golden Friends and Neighbors of Cypriot President Nicos Anastasiades

OCCRP – Cyprus’s “golden passport” program is considered a corrupt free-for-all that gave kleptocrats, oligarchs, and criminals access to European citizenship. From Putin crony Oleg Deripaska to fugitive Malaysian fraudster Jho Low of the infamous 1MDB scandal, Cyprus’s willingness to sell citizenship to unsavory people has been a… Read More

16th June 2021

Oleg Deripaska Loses Lawsuit Challenging His Sanctions Designation

Russian billionaire Oleg Deripaska lost a lawsuit that had challenged the basis for sanctions the U.S. imposed upon him in April 2018. In a ruling issued Sunday, U.S. District Judge Amit Mehta said the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) had acted within its authority to sanction… Read More

26th May 2021

UK’s Sunak to propose blocking London listings over national security, dirty money concerns

Rishi Sunak is preparing to lay out plans to block companies from listing on the London Stock Exchange on national security grounds amid growing fears of businesses being backed by “dirty money”, it was reported last night. The chancellor plans to launch a consultation within two weeks, with proposals for… Read More

24th May 2021

The Panama Papers Double Cross: How a spy-for-hire got closely guarded dirt on the global elite

When a consortium of reporters released the Panama Papers in 2016, they wanted to block one group from plundering the database which contained records disclosing the owners of thousands of off-shore companies used to hide enormous sums of wealth: corporate intelligence operatives, or private spies. The private spying industry… Read More

28th April 2021

Inquiry tarnishes Cyprus’s golden passports

More than half the people granted EU citizenship under Cyprus’s “golden passport” scheme should not have qualified, an inquiry has found. The 6,779 people, most of them Russian, obtained citizenship between 2007 and 2020 by buying property on the island worth at least €2 million, entitling them to receive a… Read More

25th December 2020

U.S. Senator Asks Treasury for Sanctions Briefing on Deripaska

The top Democrat on the Senate Banking Committee, Sherrod Brown, has asked the U.S. Treasury Department for a briefing about allegations that Russian billionaire Oleg Deripaska continued to influence day-to-day activities of United Co. Rusal International PJSC and whether those activities would violate a 2018 sanctions relief deal. Read More

18th December 2020

Deripaska’s Rusal Role Was Flagged for U.S. Sanctions Review

European officials have provided information to the U.S. government indicating that Russian billionaire Oleg Deripaska continued to exert control this year over United Co. Rusal International PJSC, which the officials say was a breach of a U.S. sanctions agreement reached in 2018. An assessment sent to U.S. officials earlier… Read More

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