Reported by Ryan Browne Wise CEO and co-founder Kristo Kaarmann. British financial technology giant Wiseallowed an individual on the Russian sanctions list to withdraw money, a U.K. government body said Thursday. The user was allowed to make a withdrawal of £250 ($316.63) from a business account on Wise, according to the Office of Financial Sanctions […]
Reported by Sam Jones Switzerland has proposed sweeping measures to clamp down on money laundering in an effort to shed the country’s reputation as a haven for ill-gotten gains. Finance minister Karin Keller-Sutter unveiled reforms on Wednesday to increase transparency and close legal loopholes by requiring the ultimate “beneficial owners” of trusts and companies to […]
Reported by LOW DE WEI, CHANYAPORN CHANJAROEN, AND ALFRED CANG / BLOOMBERG Some of the biggest local and international banks in Singapore are becoming embroiled in one of the city-state’s largest money laundering cases. DBS Group Holdings Ltd, the country’s largest bank, and Bank of Singapore Ltd., the private-banking arm of Oversea-Chinese Banking Corp., are […]
Reported by EDMUND H. MAHONY A federal grand jury indicted a Greenwich oil and gas trader Tuesday for his role in a scheme to bribe Brazilian officials in order to win contracts with state-owed Brazilian energy company, Petróleo Brasileiro S.A., known as Petrobras. Gary Oztemel, 66, was named in a superseding indictment with his brother, Glenn Oztemel, […]
Reported by DIEGO ORE A Mexican mother walked into a bank in her home city of Culiacán in the Mexican state of Sinaloa, where an $8,000 remittance from the United States was waiting. She withdrew the funds in local currency, then strolled across town and deposited nearly all of it into accounts at two different […]
Reported by Elffie Chew Singapore’s Council for Estate Agencies is investigating property agents who might have facilitated deals linked to the S$1 billion ($737 million) money laundering case in the city state, Straits Times reported Saturday. Property agencies and their agents are required to conduct due diligence on their clients when they facilitate real estate […]
Reported by Monika Pronczuk and Valerie Hopkins A powerful Russian businessman who has been under financial sanctions for nearly a decade has nevertheless used American and European banks to raise money for orphanages in a region that is at the heart of the Kremlin’s program of deporting Ukrainian children to Russia, records show. The businessman, Konstantin […]
Arkady Volozh’s decision to publicly condemn the war ‘poses a tricky question’ for the EU, according to western officials © Andrey Rudakov/Bloomberg Reported by Henry Foy in Brussels and Max Seddon in Riga Arkady Volozh, co-founder of Russian tech giant Yandex, has formally requested that the EU lift sanctions against him in the first big […]
Reported by Elizabeth Napolitano Heineken has sold its business in Russia for one euro more than a year after it vowed to pull out of the country in response to Russia’s invasion of Ukraine. The Dutch brewer is taking a €300 million loss, or roughly $325 million, by selling its business to Russian manufacturer Arnest […]
Reported by JEFF JOHN ROBERTS Binance says it provided data that led to the capture of ISIS members in Turkey and Tajikistan. Anton Petrus—Getty Images The world’s largest cryptocurrency exchange says intelligence discovered by its investigations team led to the arrest of senior members of Islamic State of Khorasan Province, or ISKP, a branch of […]
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