June 2017

LAHORE: Supreme Court Bar Association and Lahore High Court Bar Association have decided to formally launch their movement for the resignation of Prime Minister Nawaz Sharif in the wake of Panama Papers case with a maiden meeting of national action committee convened for next week.  Speaking at a joint press conference Friday, the leaders of […]

Bipartisan bills that proponents say would “help stop the corrupt and other criminals from hiding behind anonymously owned companies created in the U.S.,” were introduced on June 28 in the Senate and House of Representatives. The True Incorporation Transparency for Law Enforcement (TITLE) Act, introduced by Senators Charles Grassley (R-Iowa), Dianne Feinstein (D-Calif.) and Sheldon […]

On 26 June 2017, the Act on the Implementation of the Fourth EU Anti Money Laundering (AML) Directive entered into force. It provides for the establishment of a central electronic Transparency Register, according to which all civil law legal entities, registered partnerships, trusts and trust-like legal formations must have their „beneficial owners“ disclosed. Under the […]

Each year, over $14 billion in tax revenues is lost in Africa to tax havens, robbing millions of the funds that could be put to needed use in schools, hospitals, infrastructure, and more. Photo: Abbie Trayler-Smith / Oxfam The US should adopt the global norm of ending shell companies to fight corruption and other financial […]

Two officials at Malta’s Financial Intelligence Analysis Unit have been sacked, Nationalist Party MP Jason Azzopardi claimed on Facebook. The two men are Charles Cronin, an accountant employed back in October 2016, and former police inspector Jonathan Ferris. “FIAU Head of Compliance fired. The witch hunt continues by the corrupt govt. The best is yet […]

Malta is among a number of EU countries that missed a June 26 deadline to implement stricter anti-money laundering rules, the Times of Malta has learnt. The government has yet to transpose into legislation the European Union’s fourth anti-money laundering directive, which imposes stricter client controls on banks and other financial intermediaries. Under the new […]

LAHORE: The Lahore High Court Bar Association (LHCBA) on Thursday demanded that Prime Minister Nawaz Sharif should resign from his office to ensure a free and fair probe into money laundering allegations against his family. In a protest meeting, the bar association also expressed concern over loss of innocent lives in terrorist attacks in Quetta […]

<!– Social media Button BEGIN Tweet –> <!– Original Tweet Button data-via=’utknightcenter’ Tweet –> Eight Latin American journalists are among the 25 newest members of the International Consortium of Investigative Journalists (ICIJ), the transnational investigative network behind the Panama Papers investigation. The 25 new members of the ICIJ team. (Screenshot) “Our 25 new members are […]

Members of Congress introduced bipartisan legislation to require anonymous shell companies to disclose their beneficial owners in an effort to uncover tax evasion, money laundering, terrorism financing and other crimes. Rep. Carolyn B. Maloney, D-N.Y., joined together with Peter King, R-N.Y., to introduce the Corporate Transparency Act in the House, while Sen. Chuck Grassley, R-Iowa, […]

ISLAMABAD – The joint investigation team (JIT) probing the involvement of Sharif family in Panama Papers case will submit its final report on 13 questions of the implementation bench of the Supreme Court on July 10th. The apex court in its April 20th, 2017, order had directed the JIT, comprising officials from six various departments, […]

International Consortium of Investigative Journalists (ICIJ) has added 25 more members to its global network of investigative reporters. Hailing from 20 different countries across four continents, the group includes journalists in five countries where ICIJ hasn’t had members before: Algeria, Niger, Lithuania, Iceland and Honduras. “All 25 new members have worked with ICIJ on previous […]

MULTAN/SIALKOT – PTI Vice Chairman Makhdoom Shah Mahmood Qureshi stressed upon the world to recognise the sacrifices and efforts of Pakistan it made against war on terror. He said that some powers do not want peace in the country. Talking to the journalists after offering Eid prayer at the shrine of Hazrat Bahauddin Zakariya here […]

LAHORE/ISLAMABAD: The details of taxes paid by the Sharif family from 1990 have been sent to the Federal Board of Revenue (FBR), sources said on Thursday. Details of taxes paid by Prime Minister Nawaz Sharif’s cousin, Tariq Shafi, and family confidant Finance Minister Senator Ishaq Dar have also been delivered to the FBR. Sources confirmed […]

$50.9M NYC foreclosure hits Nigerian The owner of a $50.9 million Manhattan condo that is scheduled to be sold at a foreclosure auction next month is Kolawole “Kola” Aluko, a Nigerian businessman accused in court filings of defrauding that country’s government. Nigerian officials have attempted to freeze Aluko’s assets, including a full-floor penthouse at Midtown’s […]

Bipartisan bills that proponents say would “help stop the corrupt and other criminals from hiding behind anonymously-owned companies created in the U.S.,” were introduced on June 28 in the Senate and House of Representatives. The True Incorporation Transparency for Law Enforcement (TITLE) Act, introduced by Senators Charles Grassley (R-Iowa), Dianne Feinstein (D-Calif.) and Sheldon Whitehouse […]