08.24.17

S. Africa's Zuma signs act to promote financial stability

South African President Jacob Zuma has signed the Financial Sector Regulation Act into law as the government moves to achieve financial stability, the Presidency said on Monday.



08.24.17

Anti-money Laundering Law could hurt profits, businesses warn

Business leaders are concerned over potential declining profits once the Anti-money Laundering and Terrorism Financing Law is enforced.



08.24.17

Caribbean RoundUp

The Antigua-based regional airline LIAT plans to introduce an airport passenger facilitation fee for international flights from the Eugene F Correia International Airport from next month.



08.24.17

Why isn’t Treasury’s crackdown on real estate money permanent?

The Treasury Department’s announcement Tuesday that it yet again extended a program to thwart money laundering by Russians and other foreigners through luxury U.S. real estate raises the question: Why isn’t it permanent?



08.24.17

Follow the Money: Time for a Royal Commission

The advice to ‘follow the money’ to uncover the trail of beneficiaries in any illicit scheme is a strategy that has been proven to work for law enforcement and investigative authorities.



08.23.17

Pressure on Manafort grows as feds track more income, possible money laundering

Paul Manafort’s place in the crosshairs of Special Counsel Robert Mueller’s probe into the Kremlin’s attempts to sway the 2016 presidential election seems to be growing more uncomfortable.



08.23.17

Could Puerto Rico Be the Next Hot Tax Haven?

Some 65,000 Puerto Ricans left their bankrupt U.S. island commonwealth last year. A group of private bankers are moving the other way.



08.23.17

Turning black into white

Money laundering entails masking the original source of funds and letting money fly into the market in secrecy. People involved in money laundering depend on key elements such as expected revenues, laundering costs, likelihood of being caught, and magnitude of the sanctions. Money launderers are concerned with anything of unregistered and untraceable economic value.



08.23.17

Kingdom ranks 4.9 on 2017 Basel AML Index

According to the Basel AML Index 2017, which assesses country risk regarding money laundering/terrorism financing, Jordan recorded an overall score of 4.9 out of 10, which puts the country in the 111th place on a list of 146 countries examined by the Basel Institute on Governance (three other countries were excluded due to incomplete data).



08.23.17

Toronto Receives its First Ethereum ATMs, Targeting Mainstream Adoption

LocalCoinATM, the Ontario-based bitcoin and Ethereum ATM manufacturer, has installed its first batch of Ethereum ATMs in Canada. These were installed over the past week in three different locations: Toronto, Brampton and Etobicoke. All of the ATMs were launched in branches of Hasty Market, a popular convenience store chain in Canada.



08.22.17

Action against people suspected of money laundering delayed

The Federal Board of Revenue (FBR) has delayed action for over a year against influential people who were accused by the State Bank’s Financial Monitoring Unit (FMU) of laundering money abroad



08.22.17

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

During the Cold War, Chinese communists taunted the U.S.A. with cries of imperialism. Our large multinational corporations were denounced for greedily exploiting the Third World.



08.22.17

Australia Moves To Reform Digital Currency Laws

Digital currency is becoming one of the more pervasive forces pushing its way into all industries. As cryptocurrencies like bitcoin, Bitcoin Cash and Ethereum become more popular, governments around the world are trying their best to figure out what the next best steps are in terms of laws and regulation.



08.22.17

Nigerians Pay Billions In Bribes — But Why?

According to a report in the Wall Street Journal citing the National Statistics Bureau, in Nigeria $4.6 billion in bribes goes to public officials each year based on a purchasing power parity calculation.



08.22.17

Banks in Uruguay Closing Accounts of Pharmacies Selling Cannabis

International anti-money laundering laws are forcing banks to abandon Uruguayan pharmacies legally selling cannabis, according to a Business Times report. Jorge Polgar, president of the state-run Banco Republica, said keeping the accounts open would prevent the institution “from carrying out any kind of operation with an international counterpart” and “cause [the bank] and its clients to be financially isolated.”



08.21.17

The Future of Foreign Exchange

The Foreign Exchange market, also known as ForEx, is the over-the-counter global currency trading market that entails the sale, purchase, and exchange of all forms of international currency. These exchanges can occur in a variety of locations, from airport kiosks, to large-scale corporations in virtually ever country across the globe.



08.21.17

Real estate practitioners urged to keep current with training

Real Estate practitioners are being encouraged to keep current with their training, by Chief Executive Officer (CEO) of the Real Estate Board/The Commission of Strata Corporations, Sandra Watson Garrick.



08.21.17

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 purchases of jets and luxury properties, including the posh London home where the clan's fugitive son was last seen.



08.21.17

Australian money cops gain powers to regulate cryptocurrency

Australia has decided digital currencies need the same level of regulation enjoyed by other currencies.



08.21.17

$6.7 Million: Rogue Silk Road Agent Pleads Guilty to Another Bitcoin Theft

CCN previously reported that former U.S. Secret Service agent Shaun Bridges had pleaded guilty to money laundering and obstruction of justice while investigating the Silk Road case. At the time, Bridges admitted he stole over $800,000 in bitcoin while serving on a Baltimore task force investigating the dark web marketplace.