Money Laundering

A big dump of information like the Panama Papers is an irresistible treasure trove with searchable databases of 320,000 offshore entities that include names and even addresses (246 streets in Vancouver alone) where companies were based or their directors lived or worked. Of course, there are cautions attached. Nothing in the documents is proof of […]

Further to our earlier report whereby CySEC ordered all regulated CIF firms to investigate any links to Mossack Fonseca, a Directive has been issued by Cyprus’ anti money laundering unit MOKAS, clarifying Regulated Entities’ reporting obligations in relation to the publicly available list of persons which are included into the documents of Mossack Fonseca, referred to commonly as the […]

Once nicknamed “Princess”, Gulnara Karimova recorded catchy pop songs, wrote poetry, and designed clothes and jewellery.  The 43-year-old elder daughter of Uzbek President Islam Karimov has also held several diplomatic jobs and built a sprawling business empire with interests in almost every branch of the economy of this resource-rich ex-Soviet nation. Leaked US diplomatic cables […]

Amlo acting secretary-general Seehanat Prayoonrat briefs the media in Bangkok in this file photo. The Anti-Money Laundering Office (Amlo) will investigate 637 Thailand-related parties identified in the Panama Papers to find out if there was any money-laundering. Amlo acting secretary-general Seehanat Prayoonrat told the media on Wednesday his office would investigate the businesses of the […]

TOKYO — The latest release of the names of thousands of offshore companies and other financial data of the rich and powerful is spurring renewed calls to counter corruption and tax evasion. Japan’s government spokesman said Tuesday that Tokyo plans to propose an action plan for combating graft at the summit of the Group of […]

By Llewellyn Hinkes-Jones May 6 — In reports from 2008 and 2010, the Caribbean Financial Action Task Force (CFATF) and the International Monetary Fund (IMF) gave positive reviews to rules intended to combat money laundering in the British Virgin Islands (BVI). Both groups supported the islands’ financial policies even though The Guardian identified the BVI […]

The Obama administration is cracking down on money laundering and tax evasion tactics. Following the leak of the Panama Papers that showed the prevalence of offshore money laundering, a new rule was adopted late last week that now requires that financial institutions remain more transparent about the companies they work with in order to crackdown on these […]

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BOGOTA, Colombia (AP) –  BOGOTA, Colombia (AP) — Colombian authorities have arrested a prominent Panama businessman they’re calling the world’s most-wanted money launderer and froze assets belonging to dozens of companies linked to him that were allegedly used to hide millions in illegal drug profits. The coordinated operation was announced Thursday as the U.S. Treasury […]

Photo: AP On Thursday night, the Obama administration announced that it was taking executive action to close loopholes that enable the kind of tax evasion and money laundering recently revealed by the Panama Papers. The new regulations will compel companies to disclose more information about their owners, the Associated Press reports. “The Panama Papers underscore […]

Colombian authorities have arrested a prominent Panama businessman they’re calling the world’s most-wanted money launderer and froze assets belonging to dozens of companies linked to him that were allegedly used to hide millions in illegal drug profits. The coordinated operation was announced Thursday as the U.S. Treasury Department froze assets belonging to 68 companies in […]