February 2018

In March, top executives from Royal Dutch Shell and the Italian oil major Eni will go on trial in Milan in what is billed as the largest corporate bribery case in history. Among the accused are Shell’s former head of international oil development, Malcolm Brinded, and Eni’s CEO Claudio Descalzi, who are alleged to have […]

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The restrictions on Gazprombank (Switzerland) include the strict supervision of existing clients and a ban on accepting new private clients. The action taken by Finma (Financial Market Supervisory Authority) against the bank follows a two-year probe of 30 Swiss institutions linked to the Panama Papers and is the country’s only enforcement action directly related to […]

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Switzerland’s financial watchdog on Thursday said that it has sanctioned the local subsidiary of Russia’s Gazprombank following a money laundering investigation triggered by the Panama Papers leaks. Gazprombank Switzerland has been barred from taking on new clients after being “in serious breach of its anti-money laundering due diligence requirements in the period from 2006 to […]

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Switzerland’s Financial Market Supervisory Authority (FINMA) has  banned Gazprombank (Switzerland) Ltd from accepting new private clients until further notice, after identifying “serious shortcomings in anti-money laundering processes” with respect to such clients. After carrying out an investigation into the bank – which it launched in 2016, and which was based initially on information revealed in […]

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18:23, January 31, 2018 A wealthy Israeli businessman who was implicated in the Paradise Papers leak is being investigated by the Department of Justice for allegedly bribing high-ranking officials in the Democratic Republic of Congo, the Guardian reported Sunday. The revelation came after Swiss authorities confirmed that US prosecutors have requested information regarding billionaire diamond and mining mogul Dan […]

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Switzerland’s market regulator said Thursday it has banned the Swiss affiliate of Russia’s Gazprombank from taking new private clients over money laundering concerns over a 10-year period that emerged from the Panama Papers leak. The move marks the first and only time that Swiss markets authority, FINMA, identified or penalized any company for wrongdoing after […]

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Our current political climate continues to highlight the dangers of international money-laundering and its close links to terrorist financing, human trafficking and corruption. Whilst comprehensive strategies have been deployed to tackle the issue, laundering through use of international trade has been notoriously hard to detect and investigate. The convoluted nature of the problem, combined with […]

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Keep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust. … read more at: https://www.ft.com/content/c3911ac0-0766-11e8-9650-9c0ad2d7c5b5

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“Shining light into dark places” is the motto that an organisation called the Tax Justice Network (TJN) gives to its financial secrecy index. It ranks jurisdictions worldwide according to their levels of secrecy and the scale of their offshore financial activities. The shadiest countries are at the top of this chart and the more transparent, […]

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18:23, January 31, 2018 A wealthy Israeli businessman who was implicated in the Paradise Papers leak is being investigated by the Department of Justice for allegedly bribing high-ranking officials in the Democratic Republic of Congo, the Guardian reported Sunday. The revelation came after Swiss authorities confirmed that US prosecutors have requested information regarding billionaire diamond and mining mogul Dan […]

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At the end of January, on orders from Congress, the U.S. Treasury will publish a list of Russian President Vladimir Putin’s “close associates”—from oligarchs to leading officials. There won’t be any sanctions attached to this list—for now. But eventually, the people on the list will likely join dozens of top Putin lieutenants already banned from […]

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