26th November 2018
India’s central bank has hit Deutsche Bank with a ₹ 30.10 million (about $420,000) penalty for failing to comply with know your customer (KYC) and anti-money laundering standards. An RBI official confirmed the development to KYC360 over the phone but was not in a position to provide further details. Deutsche… Read More
23rd 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 adopted… Read More
23rd November 2018
Amsterdam detectives have arrested a 24-year-old man on suspicion of money laundering after they found €350,000 inside a washing machine at a house in New West. According to the municipal administration, no one lived at the house, said the police, who were conducting checks for unregistered residents when they came… Read More
23rd November 2018
The Financial Conduct Authority (FCA) has reportedly launched an investigation into a senior regulatory compliance figure at HSBC’s Global Banking and Markets (GBM) division. The probe is understood to be focused on the supervision of systems in the unit, which lends to large corporations, and the individual’s ability to carry… Read More
23rd November 2018
A senior lawmaker has demanded an investigation into the way the chief executive of Lloyds Banking Group (LLOY.L) handled information related to one of Britain’s biggest fraud cases. Kevin Hollinrake, the chairman of the parliamentary group for banking, said on Wednesday he had notified Lloyds CEO Antonio Horta-Osorio that he… Read More
23rd November 2018
By Helena Wood Centre for Financial Crime and Security Studies, UK The British government claims to be focussing on its ability to seize the proceeds of organised crime, but the response remains piecemeal, underfunded and poorly coordinated As a seasoned follower of the UK’s progress (or lack thereof) in… Read More
23rd November 2018
Australia’s corporate regulator told an inquiry on Thursday that funding cuts and an increasing mandate had hampered its ability to prevent wrongdoing in the financial sector, and slammed bank bosses for failing to properly respond to its inquiries. Australian Securities and Investment Commission Chairman James Shipton told the inquiry into… Read More
23rd November 2018
AP — China on Thursday rejected a U.S. government report that accuses Beijing of stepping up efforts to steal technology ahead of a meeting between Presidents Donald Trump and Xi Jinping. The Commerce Ministry dismissed the U.S. Trade Representative’s report as “new unwarranted accusations” and said… Read More
23rd November 2018
Australian nationals convicted of terror offences would be stripped of their citizenship if the government believes they are entitled to apply for residency from another country, Prime Minister Scott Morrison proposed on Thursday. Australia, a staunch U.S. ally that sent troops to Afghanistan and Iraq, has seen a spate of… Read More
22nd November 2018
A key figure in the $234 billion Danske Bank money laundering affair has hit out at the United Kingdom, highlighting the role of British company structures in what is considered to be the ‘biggest scandal in Europe.’ Whistleblower and former Danske employee Howard Wilkinson reportedly told European Union… 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