Coutts, owned by Royal Bank of Scotland, allowed a total of $2.4bn worth of assets related to the Malaysian development fund to flow through accounts in Switzerland.
Yeo Jiawei, accused of money laundering, used a Seychelles-based company for a series of purchases in the Australian tourist town.
A former Sabah Water Department director, his wife and his former deputy were slapped with 34 money laundering charges involving RM61.4mil in what the Malaysian Anti Corruption Commission is calling the nation’s biggest graft probe so far.
A diplomatic cable said an investigation into mysterious $700m found in Najib Razak’s bank account had not absolved him of corruption
Standard Chartered Singapore and Coutts & Co were on Friday (Dec 2) fined S$5.2 million and S$2.4 million, respectively, by the Monetary Authority of Singapore for breaches of anti-money laundering (AML) requirements that occurred in the context of 1MDB-related fund flows.
Malaysia’s prime minister Najib Razak has one thing to be grateful for: His onetime golfing partner is the next president of the United States, whose justice department happens to be pursuing that very same corruption case.
Taiwan has expressed its “stern opposition” to Malaysia’s deportation of 21 Taiwanese suspected of multi-million dollar telecoms fraud to China.
A series of recent news events have highlighted the continued focus of global regulators on money laundering and compliance failures at international financial institutions.
An investment fund can be utilised by those seeking to launder money. Investment funds are particularly suitable for money laundering where a large sum of illicit money is already within the financial system.
It is a precarious victory that Romania's 500,000 protesters earned last week, and it is characteristic of current public sentiment that there have been no celebrations. There is widespread distrust of the government, partly due ...
This is the transcript of a speech given by John Griffith Jones, Chairman at the UK's Financial Conduct Authority, to MBA students at Cambridge Judge Business School. It is republished here with the FCA's permission. Thank you ...
The fallout from a massive bribery scandal that helped to bring down a Brazilian president is spreading across Latin America, threatening to engulf leaders from Panama to Peru. The workings of a secret “bribery department” at ...
Serious and organised crime costs the UK £24bn annually, and threatens the safety of the British public. Accountants form a crucial part of the front line when it comes to spotting suspicious financial activity and ...
HSBC has cut the pay package of its top executives in 2016 after Britain’s biggest bank failed to meet demands by US regulators that it toughen up its defences against financial crime.
On 17 January 2017, at Southwark Crown Court, Lord Justice Leveson approved a deferred prosecution agreement (“DPA”) between the Serious Fraud Office (“SFO”), and Rolls-Royce Plc and Rolls-Royce Energy System Inc (“Rolls-Royce”). The third DPA agreed by the SFO has led some to wonder whether DPAs have finally come of age as a weapon the SFO’s enforcement arsenal.
In late November, Jay Clayton was called by a longtime client seeking advice for how the Trump administration should tackle scaling back rules on Wall Street.
European Supervisory Authorities warn on money laundering and terrorist financing risks affecting the EU financial sector
The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) published today a joint Opinion addressed to the European Commission on the risks of money laundering (ML) and terrorist financing (TF) affecting the European Union’s financial sector.