Reported by SWI swissinfo.ch Switzerland and Panama are to cooperate more closely in the fight against international crime. After the Senate in December, on Tuesday the House of Representatives unanimously gave the go-ahead for a new treaty. For the first time, requests for mutual assistance can be submitted electronically. This is the first time that […]
From strip malls in Houston suburbs to beach houses in Brownsville, Texas is an enormous haven for money launderers. But for a long time, nobody has seemed to be in any hurry to do anything to stop dirty money flowing into the Lone Star State. Could that be changing? For several years, the U.S. Department […]
Reported by Dillon De Shong The British Virgin Islands was deemed to be largely compliant with international laws that govern money laundering, tax evasion and terrorism financing. The Caribbean Financial Action Task Force (CFATF) published its Mutual Evaluation Report of the Virgin Islands today where it highlighted the BVI’s efforts to make itself compliant. The […]
Reported by Sam Rucker Hamas’s international financial web is now “immune fromIsraeli shells”, experts believe – meaning Israeli Prime Minister Benjamin Netanyahu will struggle to achieve his goal of destroying the militant group. Stephen Reimer, an associate fellow at the Royal United Services Institute (Rus) specialising in financial crime, told i that “the total destruction of Hamas” would […]
Reported by Laurence Norman and Georgi Kantchev Two years after Russia’s invasion of Ukraine, Western sanctions have failed in their most important task—stopping the Kremlin’s war machine. Russia has used shell companies and neighboring countries to buy components used in weapons. And it has obtained a large number of old vessels operating under opaque ownership […]
Reported by MATTHEW KARNITSCHNIG The United Arab Emirates is set to receive a stamp of approval from a global money laundering watchdog, despite concerns of some countries who say the Gulf state has failed to do enough to tackle illicit activity. A written evaluation by the Paris-based Financial Action Task Force (FATF), described to POLITICO, […]
Reported by Alan Feuer and Natalie Kitroeff American law enforcement officials spent years looking into allegations that allies of Mexico’s president, Andrés Manuel López Obrador, met with and took millions of dollars from drug cartels after he took office, according to U.S. records and three people familiar with the matter. The inquiry, which has not […]
Reported by John O’Donnell and Tom Sims Austria’s financial regulator FMA has been investigating Raiffeisen Bank International over anti-money-laundering failures, the Austrian bank said on Thursday in its annual report. The investigation is focused on the so-called know-your-customer rules, the bank said, referring to a key safety guard to prevent money laundering. It comes as […]
Reported by Dave Michaels Biotech executive Matthew Panuwat bought options on another drug company’s stock—and earned a windfall of $120,000. The Securities and Exchange Commission now says he committed insider trading, even though he didn’t buy his employer’s stock and didn’t have inside information about the company he bet on. The case, which goes to […]
Reported by European Union Agency for Criminal Justice Cooperation National authorities in Latvia, Germany, France, Italy and Malta have carried out over 100 searches in a large-scale operation against a Russian-Eurasian criminal network and a Maltese-based financial institution allegedly involved in money-laundering services. Four suspects were detained during an action day supported by Eurojust and […]
Financial Crime News Briefs 