April 18th, 2019
Germany’s troubled Deutsche Bank faces fines, legal action and the possible prosecution of “senior management” because of its role in a $20bn Russian money-laundering scheme, a confidential internal report seen by the Guardian says.
The bank admits there is a high risk that regulators in the US and UK will take “significant...
April 17th, 2019
The High Court was told in Datuk Seri Najib Razak’s first-ever trial that Bank Negara Malaysia had probed two major local banks under anti-money laundering laws in 2015 over the accounts of the former prime minister and companies linked to 1Malaysia Development Berhad (1MDB).
Witnesses revealed that on the day Bank Negara Malaysia...
April 15th, 2019Denmark has reported the local operations of Ernst & Young and KPMG to the police amid a widening crackdown on money laundering in the country.
EY is being investigated for failing to alert the authorities to red flags linked to the Danske Bank A/S Estonian laundering case. KPMG was the auditor of Kobenhavns Andelskasse, a small...
April 11th, 2019The British bank Standard Chartered has agreed to pay $1.1 billion to settle allegations by the authorities in the United States and Britain that it violated money-laundering laws and economic sanctions.
The authorities, including the Treasury and Department of Justice as well as New York State regulators and prosecutors, said that...
April 8th, 2019Three Texas men, including a former Weslaco City Commissioner and a former Hidalgo County Commissioner, were arrested on charges of conspiracy to commit honest services wire fraud and conspiracy to commit money laundering.
Criminal complaints were filed in the Southern District of Texas against former Weslaco City Commissioner John...
March 14th, 2019Financial crime such as fraud and money laundering should be subject to the tougher laws that apply to bribery, a parliamentary committee has recommended.
In a report published on Thursday, a Lords committee called the UK Bribery Act a “model piece of legislation” that had “set an example to other countries” of what was needed...
March 12th, 2019Property is one of the 'weak links' in Britain's defenses against money laundering, and estate agents need to do more to close it, the Treasury Committee said last week.
A report released on Friday recommended the government take tougher action against ill-gotten funds flowing into companies and real estate.
Estate agents, the...
March 5th, 2019Nordea Bank Abp allegedly handled about 700 million euros ($793 million) in questionable funds, some of which are linked to the death of Sergei Magnitsky, a lawyer who ended his days in a Russian prison after revealing wide-spread corruption. The allegations were made in a report by Finnish broadcaster YLE on Monday, which cited leaked...
March 5th, 2019Latvia’s new prime minister pledged to eradicate the kind of money laundering that’s shaken this corner of the European Union. But he has another important message: while his country may have been a gateway for dirty cash, the rest of bloc is also to blame.
The Baltic nation was rocked in 2018 when its central bank boss was...
March 5th, 2019The company was fined for failing to ensure that its money-laundering procedures and record-keeping were in line with regulations.
HMRC also made surprise visits to 50 estate agents in a week to crack down on money-laundering in the industry.
Countrywide told the BBC it has improved its anti-money laundering controls.
The full...
