07.27.17

How the family of Vladimir Putins US-sanctioned ally uses British companies to burnish its reputation

The journey of a member of the global super-rich often traverses three main stages, as he (these are pretty much all men) moves from a position of power at home to a life of wealth and luxury abroad. The stages were outlined by writer and journalist Oliver Bullough.



07.27.17

Pharmacist Pleads Guilty to Health Care Fraud Charges for Role in $192 Million Compounded Medication Scheme; Pharmacy Marketer Also Pleads Guilty

The Pharmacist in Charge of a Hattiesburg, Mississippi compounding pharmacy pleaded guilty today to health care fraud charges for his role in a scheme that defrauded TRICARE and private insurance companies out of at least $192 million in payments for medically unnecessary compounded medications.



07.27.17

FinCEN Fines BTC-e For Violating U.S. Anti-Money Laundering Laws

On July 26, 2017, The Financial Crimes Enforcement Network (FinCEN) announced the assessment of a $110,003,312 civil money penalty against BTC-e, or Canton Business Corporation (BTC-e) for “willfully violating U.S. anti-money laundering (AML) laws.”



07.27.17

US embassy provides forensics document analyser to NAB for combating corruption

The United States Embassy in Islamabad has provided National Accountability Bureau a state-of-the-art forensics document analyzer to help combat corruption.



07.27.17

Senate to discuss fraud case with Metrobank, AMLC, BSP

The executives of the Metropolitan Bank and Trust Company (Metrobank), Anti-Money Laundering Council (AMLC), and Bangko Sentral ng Pilipinas (BSP) will face the Senate committee on banks, financial institutions, and currencies after a former senior official of Metrobank allegedly committed internal fraud involving P900 million to P2.5 billion.



07.26.17

OFAC Hits ExxonMobil with $2 Million Sanctions Penalty and Public Rebuke

On July 20, 2017, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) penalized ExxonMobil Corp. and two of its U.S. subsidiaries (collectively, “ExxonMobil”) $2 million for violations of the Ukraine-Related Sanctions Regulations.



07.26.17

U.S. says Macau billionaire hoped U.N. bribery would cement legacy

Ng Lap Seng's dream of "fame and more fortune" drove the Macau billionaire to bribe United Nations officials to win support for a multibillion-dollar conference center he hoped to build, a U.S. prosecutor said on Tuesday near the end of Ng's criminal trial.



07.26.17

Wells Fargo gets regulatory questions

Wells Fargo & Co, already in the regulatory spotlight because of last year’s fake-account scandal, is drawing renewed scrutiny after a lawyer’s unauthorised release of sensitive client details for tens of thousands of accounts belonging to wealthy customers of its brokerage unit.



07.26.17

Pondering further Russian sanctions

With US lawmakers prepared to hit Russia with more sanctions, the domestic oil and gas industry is bracing for what potential impacts may come. Karen Boman lays out concerns voiced at a July Atlantic Council Event.



07.25.17

The fight against crime in South Africa requires collaboration

Our system of government is supported by four distinct actors; the politicians, the independent judiciary, the civilians and armed forces. These groups are further supported by special interest groups like the business sector, non-governmental organisations, the media, academia, pressure groups and so on.



07.25.17

EU warns on not applying money laundering rules

Brussels has rebuked national governments in the EU for failing to apply rules aimed at making it harder for terror organisations and criminal gangs to hide their money by shifting it around European countries.



07.25.17

EU warns member states to get tough on gambling AML compliance

Toughening up European laws and practices against money laundering and organised crimes, the European Union may force bookmakers to implement ID-checks on customers that wager more than €2000.



07.25.17

The Financial Action Task Force has held a forum with the private sector on how to engage with FinTech and RegTech at PayPal’s headquarters in San José, California.

The Financial Action Task Force has held a forum with the private sector on how to engage with FinTech and RegTech at PayPal’s headquarters in San José, California.



07.25.17

Financial adviser found guilty of 16 counts of fraud

Martin Rigney, 68, invested his clients into a high-risk, unregulated collective investment scheme at a time when most of them were elderly and this type of investment was not suitable for them.



07.24.17

IRAN REMAINS WORLD’S TOP TERROR STATE

As global terrorism trends continue to evolve through the imposition of a variety of factors, counter terrorism financing (CTF) programs have too evolved to meet the new challenges posed.



07.24.17

UAE maintains robust counter-terrorism stance: US State Department country reports on terrorism for 2016

The US State Department on Wednesday released the Country Reports on Terrorism 2016, where it highlighted the UAE's increased counterterrorism efforts.



07.24.17

White & Case slapped with record fine by UK disciplinary tribunal

A record £250,000 fine has been imposed on White & Case by the UK’s Solicitors Disciplinary Tribunal (SDT).



07.24.17

Bank De-Risking Hits Remittance Costs

While remittance costs have declined over the last decade, a new working paper coming out of the International Monetary Fund (IMF) indicates that costs are climbing again because of correspondent banking challenges.



07.24.17

Luxembourg Banks Lien May Impede US Bid to Seize Aluko’s Cash

U.S. prosecutors trying to recover proceeds from an alleged $1.7 billion Nigerian fraud perpetrated by one of the directors of Atlantic Energy Drill Concept and Atlantic Energy Brass Development Ltd (AEBD), Mr. Kolawole Akanni Aluko, may have to wait their turn.



07.21.17

Deutsche Bank faces scrutiny from regulators for giving Trump hundreds of loans and has been contacted by Russia investigation in relation to the accounts

Deutsche Bank is being looked into by finance regulators for giving the Trump family hundreds of loans over the past 20 years, it has been claimed.