Reported by: Matīss Arnicāns (Latvian Television), “De facto” (Latvian Television) There has been no visible progress in negotiations between the Latvian Ministry of Finance with colleagues from the U.S. Department of the Treasury regarding the withdrawal of some statements which were presented in the 2018 sanctions decision taken by the U.S. against ABLV bank, LTV’s De Facto […]
Reported by: Cayman News The Cayman Islands remains on the Financial Action Task Force grey list while Nicaragua and Pakistan were removed following this week’s meeting in Paris to review the political commitment made by countries to meet the requirements needed to combat global financial crime. In a statement issued Friday, the FATF said that […]
Reported by: Dean Starkman The Swiss government plans to create a central registry to identify the true owners of now-anonymous Swiss-registered companies and partnerships, an incremental but important anti-money laundering reform for the longtime bastion of financial secrecy. The country’s Federal Council, Switzerland’s cabinet, has asked the government’s finance ministry to draft a law to create the […]
Reported by: JOSHUA GOODMAN and the Associated Press It was a deal that brought together oligarchs from some of America’s top adversaries. “The key is the cash,” the oil broker wrote in a text message, offering a deep discount on Venezuelan crude shipments to an associate who claimed to be fronting for the owner of […]
Reported by: Joseph BOYLE and Daniel Hoffman Under the headline “Scammers in Paris”, an online sleuth known as ZachXBT published a blog in August detailing how a pair of youngsters stole cryptoassets worth millions. Much to his surprise, the French police announced last week that they had acted on his tipoff and charged five people. […]
Reported by: Gabe Kaminsky, Investigative Reporter Rep. Kathy Manning’s (D-NC) husband sold thousands worth of Big Tech stock shares before the congresswoman voted in favor of an antitrust bill that aims to rein in the power of these very companies, according to a financial disclosure. Manning, one of the wealthiest members of Congress, disclosed on Sept. 12 that her husband, Randall […]
Press release by: Department of Justice, U.S. Attorney’s Office, Eastern District of New York A 12-count indictment was unsealed today in federal court in Brooklyn, New York charging five Russian nationals, Yury Orekhov, Artem Uss, Svetlana Kuzurgasheva, also known as “Lana Neumann,” Timofey Telegin and Sergey Tulyakov with various charges related to a global procurement, […]
Reported by: Terence Grugan, Peter Hardy, Wendi Kotzen, Beth Moskow-Schnoll, and Michael Robotti of Ballard Spahr LLP The CTA (Corporate Transparency Act) and the Final Rule seek to maximize corporate transparency in order to deter money laundering, tax evasion, and other illicit activity by so-called “shell companies.” The net that has been cast, however, is […]
Reported by: Tony Lange Charges against three former cannabis executives in Ontario could set a legal precedent for publicly traded cannabis companies that fail to comply with provincial regulations—notably securities offenses—in Canada. Legal proceedings are expected to begin Oct. 17 in the Ontario Court of Justice involving CannTrust Holdings Inc.’s (now doing business as Phoena […]
Reported by: James Politi The US and UK have agreed to bolster their co-operation in implementing and enforcing financial sanctions as they try to make it harder for Russia and other countries to elude economic punishment imposed by the west. In a joint announcement due to be published on Monday and obtained by the Financial […]
Financial Crime News Briefs 