Money Laundering

US prosecutors announced Tuesday that they have charged four people with taking part in a decades-long scheme to evade US taxes that came to light after a massive leak of offshore financial data known as the “Panama Papers.” Three of the four people have already been arrested, prosecutors said, in the first criminal case brought […]

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Wells Fargo won’t be allowed to grow until it hardens its risk management policies to make sure there are no more abuses of customers, according to a report by Reuters. Jerome Powell, chairman of the Federal Reserve, wrote a letter to U.S. Senator Elizabeth Warren on Nov. 28 and outlined his views and decisions on […]

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The beneficiaries of the offshore companies include governors and deputies. Rosinfomonitoring has found 4,197 offshore companies controlled by Russian citizens in the Panama Papers, Head of the Anti-Money Laundering Control Vitaly Andreev said at the conference “Priority Directions of Anti-Corruption Policy in Russia and the World” at HSE, RBC reports.  A check by Rosinfomonitoring showed […]

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Prosecutors in Frankfurt, Germany have targeted a former anti-money laundering official at Deutsche Bank in a probe regarding the suspicion of money laundering, Reuters reported on Monday (Dec. 10). The official was not named in the news, which was reported by Hessischer Rundfunk, a German public broadcaster. Prosecutors are accusing the unnamed official of not […]

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The Illicit Art and Antiquities Trafficking Prevention Act (HR 5886), proposed in the US Congress in May, is now in limbo after the November mid-term elections. However, it could be reintroduced to the new Congress in January 2019, amid a recent rise in anti-money-laundering initiatives worldwide. In the last month alone, German police raided Deutsche […]

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South Korean company Viva Republica, which is behind the payment app Toss, has become the country’s fourth unicorn startup after raising an $80 million funding round at a valuation of $1.2 billion. The round was led by American VC firms Kleiner Perkins and Ribbit Capital, with participation from Altos Ventures, Bessemer Venture Partners, Goodwater Capital, KTB […]

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Instacart shoppers are unhappy with the company’s new payment structure, which has resulted in a decrease in wages. As a result, the workers are boycotting lower-paying orders, as well as trying to organize the company’s network of independent contractors. “We’re being mistreated,” Alid Alvarado, a single mom who lives in south suburban Oak Lawn, told […]

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The beneficiaries of offshore companies include governors and deputies. Rosinfomonitoring has found 4,197 offshore companies controlled by Russian citizens in the Panama Papers, Head of the Anti-Money Laundering Control Vitaly Andreev said at the conference “Priority Directions of Anti-Corruption Policy in Russia and the World” at HSE, RBC reports.  A check by Rosinfomonitoring showed that […]

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Prosecutors in Frankfurt, Germany have targeted a former anti-money laundering official at Deutsche Bank in a probe regarding the suspicion of money laundering, Reuters reported on Monday (Dec. 10). The official was not named in the news, which was reported by Hessischer Rundfunk, a German public broadcaster. Prosecutors are accusing the unnamed official of not […]

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FRANKFURT (Reuters) – Frankfurt prosecutors have launched a probe against a former anti-money laundering official of Deutsche Bank on suspicion of money laundering, German public broadcaster Hessischer Rundfunk reported on Monday. The public prosecutor is accusing the former official of failing to report suspicious transactions, despite sufficient indications of money laundering, Hessischer Rundfunk reported, without […]

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Events of the past two weeks read like a script for a major motion picture on money laundering and global corruption, including the guilty plea of Trump attorney Michael Cohen; the special counsel’s revocation of the cooperation and plea deal with Paul Manafort; and the German police raid on Deutsche Bank, just to name three. […]

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Deutsche Bank (DB) shares were marked modestly higher Monday, even as stocks around the region drifted lower, following a German media report that suggested the troubled lender could be merged with domestic rival Commerzbank AG (CRZBY) . A German Finance Ministry spokesperson declined to comment on the Focus Magazine report, published Saturday, that the government […]

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Police raided six Deutsche Bank offices in and around Frankfurt last week over money-laundering allegations linked to the Panama Papers, the public prosecutor’s office said. Investigators are looking into the activities of two unnamed Deutsche Bank employees alleged to have helped clients set up offshore firms to launder money. “Of course we will co-operate closely […]

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FRANKFURT (Reuters) – Frankfurt prosecutors have launched a probe against a former anti-money laundering official of Deutsche Bank on suspicion of money laundering, German public broadcaster Hessischer Rundfunk reported on Monday. The public prosecutor is accusing the former official of failing to report suspicious transactions, despite sufficient indications of money laundering, Hessischer Rundfunk reported, without […]

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The only American charged in connection with the first Panama Papers prosecution in the United States vowed to fight the charges Friday, even as his alleged co-conspirator was arrested in Panama. Accountant Richard Gaffey was named in an indictment late Tuesday, charged with wire fraud, conspiracy to launder money and evade taxes, and failure to […]

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