28th November 2018
Venezuela’s former national treasurer, who received over $1 billion (785.11 million pounds) in bribes as part of illicit foreign currency operations, was sentenced by a U.S. judge on Tuesday to 10 years in prison, court records showed. Alejandro Andrade, who ran the treasury for four years under late socialist leader… Read More
28th November 2018
Several senior European politicians on Tuesday raised the possibility of new sanctions against Russia to punish it for capturing three Ukrainian vessels at sea, an incident the West fears could ignite a wider conflict. Financial markets have responded to the prospect of new Western sanctions that could hurt Russia’s economy,… Read More
28th November 2018
A longtime favorite vehicle for money launderers, real estate as a means of hiding illicit proceeds has gained renewed attention by regulators and legislators throughout the world. Real estate was an $8.5 trillion market in 2017, which warrants regulatory scrutiny and enhanced transparency for an industry exposed to the downstream… Read More
28th November 2018
AP — The ride-hailing service Uber has been fined the equivalent of nearly $1.2 million by British and Dutch authorities for failing to protect customers’ data during a cyberattack in 2016. Britain’s Information Commissioner’s Office said Tuesday it fined the company 385,000 pounds ($491,000) and Dutch… Read More
28th November 2018
AP — Ohio is now accepting the cryptocurrency, bitcoin, for business tax payments including sales tax. State Treasurer Josh Mandel’s office announced Monday that businesses can sign up for the program through OhioCrypto.com. Businesses will pay their taxes through a third-party processor called BitPay, which will convert the digital… Read More
27th November 2018
A 27-year-old woman is facing up to 20 years in jail over defrauding a number of financial institutions, and then laundering and transferring the proceeds to support blacklisted terror group the Islamic State of Iraq and al-Sham (ISIS). Authorities allege that American resident Zoobia Shahnaz engaged in a bank fraud… Read More
27th November 2018
(Reuters) – Standard Chartered Plc (STAN.L) is considering simplifying its structure as it looks to curb costs across its networks from Zambia to Macau, Bloomberg reported bloom.bg/2P3jiBW on Monday, citing sources. The London-based bank is looking for ways to free up liquidity and reduce funding expenses within its different legal… Read More
27th November 2018
AP — Brazil’s federal police issued 22 arrest warrants Friday as part of a probe into a corruption and money laundering scheme involving construction of the new headquarters of the state oil company in the northeastern city of Salvador. Police said they had arrested 17 people… Read More
27th November 2018
Citigroup Inc and JPMorgan Chase & Co will pay $182.5 million to settle U.S. investor litigation claiming they violated antitrust law by conspiring with other banks to rig a key European interest rate benchmark. A preliminary settlement addressing the banks’ alleged manipulation of the European Interbank Offered Rate, or Euribor,… Read More
26th November 2018
Auditing firm KPMG faces a disciplinary tribunal hearing after the Financial Reporting Council (FRC) filed a complaint against its handling of work for mattress company Silentnight. According to the watchdog, KPMG and its partner performed an engagement for Silentnight in circumstances where ‘their professional judgment was compromised, or was likely… 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