Adani Australia: Investigation Uncovers Tax Haven Ties to British Virgin Islands

An investigation by the ABC’s Four Corners program has uncovered previously unknown tax haven ties for Adani Group’s Australian operations, with key assets ultimately owned in the British Virgin Islands…

 

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Slovenia Opens Investigation into Iran-related Money Laundering Scandal

Slovenia has launched an investigation into allegations that its biggest state-owned bank laundered nearly €1 billion (US$ 1.17 billion) from Iran between 2008 and 2010, Euractiv reported Monday…

 

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Vijay Mallya Arrested in London in Money Laundering Case, Gets Bail

Absconding liquor baron Vijay Mallya, who is wanted in connection to a loan default case to the tune of Rs 9,000 crore, was arrested in London on Tuesday….

 

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Scam and Money Laundering puts Former Wells Fargo Manager in Jail

A California man was sentenced to prison on Aug. 21 for what the Department of Justice says was his role as the…

 

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Beyond Due Diligence

The challenges are well known to practitioners and, hopefully, something is changing in this regard…

 

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Money Laundering Risk Levels in Latin American Countries, Ranked

An annual report by one of the world’s leading institutions working against financial crimes ranks countries around…

 

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Detecting Money Laundering Using Unsupervised Machine Learning

In an era of rising regulatory expectations and associated costs, firms are keen to investigate suspicious activity…

 

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Iran and Afghanistan Top 2017 Basel AML Index

Iran, Afghanistan and Guinea-Bissau are the riskiest countries in terms of money laundering and “terrorist” financing…

 

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Australian Regulator Clears other Major Banks of Money Laundering Breaches

Australia’s money-laundering regulator has found no breaches similar to those of the country’s biggest mortgage lender…

 

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Co-Chair’s Statement- 24th Plenary of the Egmont Group of Financial Intelligence Units

The 24th Plenary of the Egmont Group of Financial Intelligence Units (FIUs) was held in Macao, SAR from 2-7 July 2017…

 

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Nigeria Risks Imminent Expulsion from Egmont Group

It is news that the Nigerian Financial Intelligence Unit, NFIU, has been suspended from the activities of the…

 

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China, Inc. Is the World’s Biggest Money-Laundering Threat

China’s incredible economic growth is to be admired. But with the growth comes the concurrent effects of transnational Chinese criminal activity…

 

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How Shell Companies are used in Black Money Creation and Money Laundering

An Income Tax (IT) probe was launched recently into the operations of Anjali Jewellers Private Ltd, a 25-year-old family owned…

 

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Panama Papers Expose Cash Trail Amid Red Bull Fugitive Hunt

The Bangkok billionaire family that co-founded Red Bull, the world’s leading energy drink, uses offshore companies to cloak…

 

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Round Tripping of Funds: Sebi Slaps Rs 18 cr Fine on 22 Entities

Markets regulator Sebi has imposed a total fine of Rs 17.55 crore on 22 entities for round tripping of funds through fictitious transactions…

 

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Some of AUSTRAC’s Allegations Against CBA are Jaw-Dropping

Allegations of customers “cuckoo smurfing” and using Commonwealth Bank of Australia accounts to launder money for making…

 

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Dow Jones & SWIFT 2017 Global Anti-Money Laundering Survey

Dow Jones Risk and Compliance, in conjunction with SWIFT, conducted a global survey to assess the current regulatory environment, deepen understanding of client-screening processes…

 

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EBA Publishes Fintech Discussion Paper

The European Banking Authority has published a Discussion Paper on its approach to financial technology (FinTech). The EBA sets out in the Discussion Paper the results of the first EU-wide…

 

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PMLA Case: ED Arrests Shabir Shah’s Aide Aslam Wani from Srinagar

NEW DELHI: A Delhi court on Sunday sent alleged hawala dealer Mohammad Aslam Wani, arrested in connection with a decade-old money laundering case involving Kashmiri separatist Shabir Shah, to ED custody…

 

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CommBank ATM Scandal Syndicate Linked to the Biggest Ice Haul in WA History

One of the money laundering syndicates linked with the Commonwealth Bank compliance scandal worked with drug smugglers who imported methamphetamine worth $315 million…

 

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ANZ CEO SHayne Elliot say Big Banks Tarnished by CBA Laundering Allegations

ANZ chief executive Shayne Elliott says the other big three banks will all be tarnished by the woes being experienced by rival Commonwealth Bank of Australia over allegations of money laundering…

 

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AUSTRAC seeks Civil Penalty Orders Against CBA

Australia’s financial intelligence and regulatory agency, AUSTRAC, today initiated civil penalty proceedings in the Federal Court against the Commonwealth Bank of Australia (CBA) for…

 

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This Is The Unusual Money Laundering Method Of ‘Cuckoo Smurfing’

AUSTRAC alleges Commbank seriously and systematically breached compliance of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws using a technique known as “cuckoo smurfing”…

 

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RBS Faces FCA Probe over Money Laundering Suspicions

Royal Bank of Scotland is under investigation by British authorities for alleged money laundering offenses, the lender revealed on Friday, as it set out plans to establish a new post-Brexit EU headquarters in Amsterdam.…

 

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CBA risks massive fines over anti-money laundering, terrorism financing law breaches

The Commonwealth Bank has been accused of “serious and systemic” breaches of anti-money laundering and terrorism financing laws that could leave it exposed to massive civil penalties…

 

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FCA Looks at New Technologies and AML

FCA has published the results of a survey it commissioned on emerging technologies, and how they can help firms in their AML prevention work…

 

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The new EU prospectus regulation

The European Union’s prospectus regulation, which will eventually replace its prospectus directive, is now law in all 28 countries…

 

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Overview of SAR (Suspicious Activity Reporting)

Overview Of SAR (Suspicious Activity Reporting)   Suspicious Activity Reporting (SAR) forms the cornerstone of…

 

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Treasury Confirms New AML Super-Supervisor

Treasury Confirms New AML Super-Supervisor   Treasury has confirmed how the new Office for Professional Body Anti-Money Laundering Supervision (OPBAS) will work to…

 

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House of Lords Calls for Evidence

House of Lords Calls for Evidence on Financial Regulation and Supervision Following Brexit.   The House of Lords EU Financial Affairs…

 

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