20th February 2018
France asked the World Court on Monday to throw out a case launched by Equatorial Guinea, saying the African country was wrongly using the court to shield the son of its ruler from prosecution in France following a corruption investigation. The case before the United Nation’s highest court, formally known… Read More
30th October 2017
FRANCE 24, AFP A French court handed down a three-year suspended jail term on Friday to Teodorin Obiang, the son of Equatorial Guinea’s leader and who serves as vice president, after a landmark graft trial that lifted the lid on his playboy lifestyle. The 48-year-old, who was tried in absentia,… Read More
20th June 2017
In the first case in France brought by civil society in France Teodoro Nguema Obiang Mangue, the son of the president of Equatorial Guinea, is on trial for corruption. It has taken a decade of arguments, a change to French law and a crowdfunding campaign to ensure the witnesses could travel… Read More
9th February 2017
In the final part of an exclusive series of four webinars Elise Bean, former Staff Director and Chief Counsel of the U.S. Senate Permanent Subcommittee on Investigations, will explore the case of Riggs Bank. Riggs, a D.C. based commercial bank with branches around the world, was effectively shut down by… Read More
2nd February 2017
If the Senate approves, it could change how multinationals deal with foreign governments. Read More
26th January 2017
In the final part of an exclusive series of four webinars Elise Bean, former Staff Director and Chief Counsel of the U.S. Senate Permanent Subcommittee on Investigations, will explore the case of Riggs Bank. Riggs, a D.C. based commercial bank with branches around the world, was effectively shut down by means of a merger in 2005 following revelations that it handled deposits from Augusto Pinochet, the Saudi royal family and the dictator of Equatorial Guinea among others. Elise will consider what can be learnt for the case for financial crime prevention regimes today. Read More
2nd January 2017
Teodorin Obiang, accused of plundering $115m, owns luxury properties, yachts, cars – and Michael Jackson’s crystal glove. Read More
4th November 2016
Eleven sports cars belonging to Teodorin Obiang, the son of Equatorial Guinea’s president have been seized in Geneva under the orders of the canton’s public prosecutor. Obiang is currently under investigation for money laundering. The Swiss investigation into Obiang’s assets was opened in mid-October. “The Geneva public prosecutor confirms the… Read More
18th October 2016
France told judges at the United Nations’ highest court on Tuesday that they do not have jurisdiction in a case brought by Equatorial Guinea aimed at halting a Paris money-laundering case against the son of the African nation’s president. Alain Pellet, a law professor representing France, told the… Read More
23rd June 2016
Until this year, Teodoro Obiang Nguema had never won less than 97 percent of the vote in an election. Perhaps the immense international scorn he has faced in recent years caused him to loosen his grip a bit, because he won only 93.7 percent when reelected to his sixth term as leader of Equatorial… Read More
Must Read

EU adopts Sixth Anti-Money Laundering Directive EU 6AMLD, deadline set

Countries across the European Union will have two years to implement a new system of jail sentences and sanctions for money launderers following the formal adoption of the EU’s latest anti-money laundering directive, dubbed 6AMLD (Sixth Anti-Money Laundering Directive) on 11 October 2018. Once the directive is published in the… Read More

Anti-money laundering compliance costs hit $25 billion annually – study

The cost of AML compliance across U.S. financial services firms equaled $25.3 billion per year based on survey responses from more than 150 decision-makers at banks, investment, asset management and insurance firms, according to a new study. The report shows that smaller firms are hit hardest, relative to their bottom… Read More