Money Laundering

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The prime minister has declared retrieval of the hidden offshore assets as his topmost priority. PHOTO: EXPRESS ISLAMABAD: Amid legal and administrative hindrances, Prime Minister Imran Khan has given an ambitious deadline of two weeks to a task force set up to recover unlawfully acquired foreign assets by suggesting a way forward for expeditious retrieval of […]

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Bloomberg/Copenhagen Danish politicians are so shocked by the sheer magnitude of financial misdeeds committed under their watch that they say they need longer to work on legislation intended to keep bankers honest.A proposal outlining tougher penalties for money laundering, which had been due during parliament’s spring session, now won’t see the light of day until […]

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European Parliament tribute to Caruana Galizia (Photo: European Parliament) Financial crime can often be complex, but this story is relatively simple. Two political operatives, Keith Schembri and Konrad Mizzi, the Iranian-owned Pilatus Bank, and an accountancy firm called Nexia BT, were exposed by the Panama Papers and by leaked reports from Malta’s anti-money laundering agency […]

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Bribery: The U.S. Navy’s bribery scandal involving “Fat Leonard” Glenn Francis widened with the indictment of three more retired Navy officials. They couldn’t be reached. (WP, SDUT, HNN) Indian local officials are facing heat for allegedly taking bribes. (TOI, TI) Two institutional investors asked a New York judge to certify a class action lawsuit alleging […]

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A money laundering case against Asif Ali Zardari, the former national president and Pakistan People’s Party (PPP) supremo, has put the opposition’s plans for a ‘grand alliance’ to challenge new Prime Minister Imran Khan in jeopardy. Prior to the election late last month, the Federal Investigation Agency claimed that a huge money laundering scam – […]

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Maltese police officers have been working with US federal agents for nearly two years in an international investigation into an alleged Venezuelan money laundering racket, Times of Malta has learnt. Police sources said officials from the US Homeland Security Department had travelled to Malta as part of the wide-ranging investigation that had a special focus […]

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Islamabad: Imran Khan has sought UK’s help to combat the menace of money laundering during a conversation with his British counterpart Theresa May, Pakistani media reported, a day after he vowed to act against those who “looted” the country. Khan’s request is significant as former Pakistan prime minister Nawaz Sharif and his close relatives are […]

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The original Panama Papers leak took place in 2015, with the information then released in 2016 detailing financial and solicitor–client information concerning more than 214,000 offshore entities. Some of these offshore entities are entirely legal. Other documents link high-profile figures around the world, such as the then-Prime Minister of Iceland, the King of Saudi Arabia […]

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Ireland could face a large fine and daily penalties imposed by the EU over its failure to implement EU anti-money laundering rules. The European Commission has referred Ireland, along with Greece and Romania, to the Court of Justice of the EU (CJEU) for failing to transpose EU legislation strengthening rules on money laundering into national […]

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What a tangled web we weave…to deceive Even to otherwise sensible and aware people, the accusations constantly cropping up about massive organised corruption committed by politicians, bureaucrats, Public Service Enterprises’ heads and all manner of underlings and hangers-on of the powerful, may appear a mere mirage, or deliberately overblown much ado about nothing, but the […]

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