Reported by: Olaf Storbeck Germany’s financial watchdog BaFin has threatened to fine Deutsche Bank if it misses crucial deadlines for fixing its money-laundering controls — the latest escalation of a four-year tussle between lender and regulator. Bonn-based BaFin on Friday again publicly rebuked the country’s largest bank, highlighting that attempts over a number of years to improve […]
Reported by: AYANA ARCHIE The Justice Department has arrested 21 people suspected of belonging to a theft ring that made millions of dollars from stolen catalytic converters, the car parts that have increasingly become targets across the country. A team of law enforcement agencies at the local, state and federal levels seized hundreds of millions […]
Reported by: Richard Milne, Nordic and Baltic Correspondent Danske Bank believes it will cost about $2bn in fines to resolve one of the largest money-laundering scandals on record as it nears a solution with US and Danish authorities. Denmark’s biggest bank said on Thursday that it would take an additional charge of DKr14bn ($1.9bn), taking the total […]
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 […]
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: JOE PATRICE Dechert’s long-running Neil Gerrard headache continues. It all started when the firm’s former white collar practice chief Gerrard began working for the Eurasian Natural Resources Corporation (he began working for ENRC at DLA Piper, but brought the engagement with him when he lateraled to Dechert). ENRC hired Gerrard to conduct an […]
Reported by: Robert Anello , Richard Albertand Courtney Morphet Cryptocurrency has been touted as a more transparent form of investing, as the information needed to price digital assets is generally available to the public, and in theory no “inside” information is available to exploit before public releases of information, such as earnings announcements and SEC […]
Reported by : NL Times One of the subsidiaries of the bank ING is suspected of money laundering in a criminal investigation. The company, an online payment service provider, is thought to have violated the Financial Supervision Act, according to the FD. It is the second time for ING to be connected to a money […]
Financial Crime News Briefs 