3rd December 2018
Norway’s Financial Supervisory Authority (FSA) has reportedly found that DNB Bank has insufficient money laundering controls, following an audit of the bank. The watchdog is understood to have written to the bank expressing its concern that anti-money laundering compliance “remains insufficient,” and said it expects that the issue will prioritised. Read More
3rd December 2018
A former employee with the U.S. Department of Justice has pleaded guilty for his role in a conspiracy to deceive banks in the United States about the source and purpose of millions of dollars sent from overseas to finance a lobbying campaign on behalf of foreign interests. George Higginbotham, 46,… Read More
3rd December 2018
A three-year settlement deal reached between Britain’s Serious Fraud Office (SFO) and Standard Bank over bribery allegations has come to an end, British officials said. SFO director Lisa Osofsky said she welcomed the “successful conclusion” of the agreement. In November 2015, the two parties entered into a deferred prosecution agreement… Read More
3rd December 2018
A money laundering scandal at Danske Bank (DANSKE.CO) involving billions of euros of suspicious flows is serious enough to potentially affect the country’s financial stability, the central bank warned on Friday. Denmark’s state prosecutor filed preliminary charges on Wednesday against Danske Bank, Denmark’s largest lender with a balance sheet 1-1/2… Read More
3rd December 2018
Billionaire Czech Prime Minister Andrej Babis faced renewed pressure over his business dealings on Saturday after an EU legal document said he has a conflict of interest due to links to agribusiness companies that received European funds. The document, which was seen by Reuters, could stir up political turmoil in… Read More
30th November 2018
Boxer Floyd Mayweather Jr. and a music producer known as “DJ Khaled” failed to disclose payments they received for promoting investments in initial coin offerings, the U.S. Securities and Exchange Commission (SEC) said on Thursday. Neither Mayweather nor Khaled Mohamed Khaled admitted or denied the regulator’s charges, but agreed to… Read More
30th November 2018
A self-styled British trader, who conned financial experts and some of his closest friends out of millions of pounds in a nine-year investment scam, was sentenced by a London court to five years in jail on Thursday. Mark Starling, 57, pleaded guilty to fraud and operating a collective investment scheme… Read More
30th November 2018
AP — President Donald Trump’s former lawyer, Michael Cohen, confessed in a surprise guilty plea Thursday that he lied to Congress about a Moscow real estate deal he pursued on Trump’s behalf during the heat of the 2016 Republican campaign. He said he lied to be… 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
30th November 2018
AP — A New York City councilman is proposing legislation that would ban cash-free businesses. Democratic City Councilman Ritchie Torres, who represents parts of the Bronx, formally introduced the legislation Wednesday, which would force eateries and other retailers to accept cash alongside credit and electronic payments. Read More
Must Read

Iran courts jail 30 men for economic crimes after public outcry

Fast-track courts set up in Iran to fight economic crime have jailed 30 men for up to 20 years each, the judiciary said on Sunday, as the country faces renewed U.S. sanctions and a public outcry against profiteering and corruption. The new Islamic revolutionary courts — whose rulings cannot be… Read More

Police arrest over 200 fake-cash ‘customers’ after counterfeit money agent jailed

Law enforcement agencies across Europe have taken action against suspects who bought counterfeit euro banknotes on illegal platforms on the Darknet. In total, almost 300 house searches were conducted in 13 different countries and 235 suspects were detained. Law enforcement also seized around 1 500 counterfeit euro banknotes. Read More