Money Laundering

In Nepal, like any other countries of the world, there is a tendency of oversimplification and generalizations in describing and tackling organized crime. In the case of fragile states, in particular, there is a further tendency to use the term ―Organized Crime Groups (OCGs) or ―Translational Organized Crime (TOC) to describe all types of organized […]

In Nepal, like any other countries of the world, there is a tendency of oversimplification and generalizations in describing and tackling organized crime. In the case of fragile states, in particular, there is a further tendency to use the term ―Organized Crime Groups (OCGs) or ―Translational Organized Crime (TOC) to describe all types of organized […]

New Delhi: Pakistan Supreme Court on Thursday ordered further probe into graft allegations leveled by the opposition parties, especially cricketer-turned-politician Imran Khan’s Tehreek-i-Insaf party, against Prime Minister Nawaz Sharif. The court considers the existing evidence as insufficient. Based on the Panama Papers revelations, the opposition accuses Sharif of failing to explain the source of money […]

(Bloomberg Opinion) — A former lower court judge with a gimlet eye for graft, Sergio Moro made his name taking down crooked Brazilian politicians and their corporate enablers. In naming Moro justice minister in January, President Jair Bolsonaro aimed to shake up an ethically challenged nation. Little did he know. Since June 8, the muckraking […]

FRANKFURT – The U.S. Federal Bureau of Investigation is examining whether Deutsche Bank complied with laws meant to stop money laundering, a person with knowledge of the matter said Thursday. The inquiry, first reported in The New York Times, follows a report by that newspaper last month about bank employees in its U.S. compliance division […]

As recent money-laundering scandals move from the Baltics to Scandinavia, who will be next?   By Sven Stumbauer, Globally Recognized Financial-Crimes Expert       The beginning of 2019 and most of 2018 have been marked by a significant uptick in money-laundering scandals. More surprising is that recent money-laundering scandals involve financial institutions and jurisdictions […]

Trust and fiduciary services provider Estera has been hit with heavy penalties by the Bermuda Monetary Authority (BMA) after it failed to address anti-money laundering issues in its internal processes. The hefty fine of $500,000 (£400,000; €447,000) relates to the Jersey-headquartered firm’s failure to comply with anti-money laundering and counter-terrorist financing (AML/CTF) legislation in the British […]

NEW DELHI/BERNE: Amid a continuing crackdown on Swiss bank account holders with suspected illicit money, Switzerland has stepped up its process to share details of such individuals with Potluri Rajamohan Rao being the latest Indian national to get a notice in this regard. At least 14 Indians, with accounts in Switzerland-based banks, were issued notices […]

A company owned by a Lithuanian businessman who allegedly was part of a network that laundered money looted by the dictator of Equatorial Guinea has donated funds for the construction of the third highest church in Russia that will serve as the principal temple of Russia’s armed forces. Vladimir Stefanov (Photo: Vidmantas Balkunas / 15min)A […]

“NORDIC NOIR” crime fiction portrays the dark underbelly of societies which appear on the surface to be staid, comfortable and law-abiding. The region’s financial systems, too, have a surprisingly seedy side. The long-held notion that Scandinavian banks are among the world’s least susceptible to financial crime has been shattered in recent months, as big banks […]