Featured Criminal Investigations

EU Parliament calls for inquiry into €55 billion cum-ex tax fraud

Members of the European Parliament have called for an inquiry to examine various aspects of the cum-ex multi-billion euro tax fraud scheme, which has hit Germany and possibly several other European countries. The lawmakers want the probe to establish the ‘real actors’ behind the scam, whether there were breaches of… Read More

Ex-bank owner jailed over billion-dollar money laundering scam

A former owner of Banco Peravia bank in the Dominican Republic has been sentenced to three years in prison for his role in a billion-dollar money laundering scheme involving currency exchange. Gabriel Arturo Jimenez Aray (Jimenez), 50, a Venezuelan citizen residing in the US, and former owner of Banco Peravia… Read More

Deutsche Bank raided over money laundering, offshore Panama Papers trouble

Police officers in Frankfurt raided the offices of Deutsche Bank regarding a Panama Papers investigation, which is believed to involve facilitating money laundering in tax havens. Deutsche Bank confirmed raids occurred on Thursday morning, saying in a statement: “We confirm that the police are currently conducting an investigation at… Read More
4th December 2018
Members of the European Parliament have called for an inquiry to examine various aspects of the cum-ex multi-billion euro tax fraud scheme, which has hit Germany and possibly several other European countries. The lawmakers want the probe to establish the ‘real actors’ behind the scam, whether there were breaches of… Read More
4th December 2018
A former owner of Banco Peravia bank in the Dominican Republic has been sentenced to three years in prison for his role in a billion-dollar money laundering scheme involving currency exchange. Gabriel Arturo Jimenez Aray (Jimenez), 50, a Venezuelan citizen residing in the US, and former owner of Banco Peravia… Read More
30th November 2018
Police officers in Frankfurt raided the offices of Deutsche Bank regarding a Panama Papers investigation, which is believed to involve facilitating money laundering in tax havens. Deutsche Bank confirmed raids occurred on Thursday morning, saying in a statement: “We confirm that the police are currently conducting an investigation at… Read More
27th November 2018
Authorities have frozen a number of assets linked to a Belgian criminal who used a Spanish restaurant to launder illicit proceeds and then invest the money in real estate. The man, who was part of an organised crime group, had been wanted by Belgian police after allegedly committing over… Read More
20th November 2018
Top Western banks are alleged to have processed the bulk of the $234 billion tranche of suspicious transactions central to Danske Bank’s money laundering affair, which has stirred much controversy in the European banking world. On Monday, whistleblower and former Danske Bank employee Howard Wilkinson told Danish lawmakers that a… Read More
12th November 2018
Eighteen managers of Swiss private bank PKB Privatbank SA Lugano are under investigation in Italy for fiscal fraud and money laundering, Milan’s Chief Prosecutor Francesco Greco said on Wednesday. The managers under investigation are mostly resident in Italy, where PKB owns Cassa Lombarda, Greco said. Tax police had searched… Read More
7th November 2018
Authorities in the United Kingdom are investigating football clubs amid concerns the sector is being used to launder dirty cash and clubs are underreporting suspicious behaviour. Appearing before lawmakers on the Treasury Committee’s hearing on economic crime, Home Office minster Ben Wallace said that sports, like any other sector,… Read More
5th November 2018
Businessman Arron Banks has denied that there are any Russian ties to the money he donated to a campaign for the United Kingdom to leave the European Union. Questions have arisen regarding the source of the £8 million he loaned to his Leave.EU campaign, an issue which has triggered the… Read More
30th October 2018
Two Afren executives have been sentenced to a total of 30 years for a scheme which saw them profit from business deals the firm made with its Nigerian oil partners, without the knowledge of its board of directors. According to the Serious Fraud Office (SFO), former Afren CEO Osman Shahenshah… Read More
29th October 2018
Deutsche Bank’s financial position and its image could be badly hit if ongoing regulatory investigations and compliance measures find against it, the lender warned in its latest results. Last month, the bank was ordered by German banking watchdog BaFin to improve its anti-money laundering controls two months after it… Read More
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FATF publishes assessment of UK anti-money laundering, counter terror financing systems

A global anti-money laundering (AML) watchdog has found that the United Kingdom has a ‘robust understanding’ of laundering and terrorism financing threats, but warned it faces significant risks of dirty cash inflows from offshore jurisdictions and foreign criminals. The Financial Action Task Force (FATF) said Britain’s ‘strong’ public-private partnerships are… Read More

Deutsche Bank hit by new laundering report; shares slide again

Deutsche Bank (DBKGn.DE) defended its record in fighting money laundering on Thursday after the Financial Times reported it had processed 31 billion euros ($35 billion) more in questionable funds for Danske Bank (DANSKE.CO) than previously thought. A Deutsche Bank spokesman declined to comment on the FT article. He said, however,… Read More