Featured Money Laundering

EU Sixth Anti-Money Laundering Directive (6AMLD) published, transposition date set

The European Union’s new rules aimed at strengthening its financial crime regime have been published in the Official Journal of the EU (OJEU). Dubbed the Sixth Anti Money Laundering Directive (6AMLD), the regulations complement the criminal law aspects of the EU Fifth Anti-Money Laundering Directive (5AMLD), which was formally… Read More

EU urges Malta to comply with Anti-Money Laundering Directive after failings

The European Commission has requested Malta’s Financial Intelligence Analysis Unit step up its supervision of the banking sector after an investigation revealed that Malta had failed to ensure banks comply with EU anti-money laundering (AML) rules. Malta has been under the spotlight over various scandals related to money laundering,… Read More

UK football clubs in live money laundering investigations

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
15th November 2018
The European Union’s new rules aimed at strengthening its financial crime regime have been published in the Official Journal of the EU (OJEU). Dubbed the Sixth Anti Money Laundering Directive (6AMLD), the regulations complement the criminal law aspects of the EU Fifth Anti-Money Laundering Directive (5AMLD), which was formally… Read More
14th November 2018
European Union governments have reached a preliminary deal to clamp down on money-laundering by strengthening bank supervision, but do not address key loopholes, documents show. A series of money-laundering cases at banks in several EU states have forced regulators to act after public outcry. The preliminary deal, which could… Read More
13th November 2018
Malaysian Prime Minister Mahathir Mohamad said bankers at Goldman Sachs Group Inc (GS.N) “cheated” the country in dealings with state fund 1MDB and that U.S. authorities have promised to help return the fees the Wall Street bank earned from the fund. The U.S. investment bank has been under scrutiny for… Read More
9th November 2018
The European Commission has requested Malta’s Financial Intelligence Analysis Unit step up its supervision of the banking sector after an investigation revealed that Malta had failed to ensure banks comply with EU anti-money laundering (AML) rules. Malta has been under the spotlight over various scandals related to money laundering,… Read More
8th November 2018
The United Kingdom has officially launched the National Economic Crime Centre (NECC) which will see government agencies and the private sector work together to combat economic crime such as money laundering and fraud. Based in London at the National Crime Agency’s headquarters, the NECC will house officers from HM Revenue… 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
6th November 2018
Denmark’s tax minister has asked the Danish Financial Supervisory Authority (FSA) to investigate whether Danske Bank, Nordea and SEB have handed over all relevant material in a $2 billion tax probe. The tax ministry says it needs more information from the banks in order to advance its investigation into the… Read More
6th November 2018
The European Central Bank (ECB) has withdrawn Maltese-based Pilatus Bank’s licence following allegations of money laundering and the arrest of its owner over financial crime charges in the US. The money laundering allegations around Pilatus, which was central to a scandal investigated by murdered journalist Daphne Caruana Galizia, go back… 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
2nd November 2018
The United Kingdom has published its strategy to tackle money laundering and other serious crime, outlining a crackdown on professional enablers and sectors targeted by launderers, such as public schools. Officials estimate that billions are laundered through the UK annually, impacting its reputation and economy. Under its Serious and Organised… Read More
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Key points in the draft EU-UK Brexit deal

AP — The draft divorce agreement between Britain and the European Union has two parts: a legally binding withdrawal agreement, which runs more than 580 pages, and a looser political declaration on future relations. Some key points: WITHDRAWAL AGREEMENT Transition period: Britain will leave the EU… Read More

Danske money laundering scandal is ‘tip of iceberg’, whistleblower’s lawyer says

Danske Bank’s (DANSKE.CO) 200 billion euro ($225 billion) money laundering scandal might be the “tip of the iceberg” and investigators should examine whether major Western banks played a role, a lawyer for the whistleblower said. Stephen Kohn, a partner at U.S. law firm Kohn, Kohn and Colapinto who is representing… Read More