Money Laundering

TAIPEI: The former head of a Taiwanese bank linked to the Panama Papers and his top aide have been detained on suspicion of violating banking and securities laws, officials said Wednesday (Oct 5). Mckinney Tsai, former chairman of Mega International Commercial Bank, was arrested and taken into custody early Wednesday on suspicion of insider trading, […]

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Islamabad: Pakistani opposition leader Imran Khan on Wednesday said Prime Minister Nawaz Sharif must quit over charges of money laundering. Pakistan’s opposition leader Imran Khan. Reuters The cricketer-turned-politician justified the Pakistan Tehreek-e-Insaaf’s (PTI) decision to boycott a joint session of Parliament to discuss the Kashmir issue. “Nothing new will be achieved that was not achieved […]

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The world’s 11th largest bank paid the Clintons almost a million dollars while under investigation and now everything is falling apart. The Deutsche Bank’s stocks hit an all time low on Friday before there were rumors that the bank had come to an agreement on a bailout. Then the stock shot up late Friday. Now […]

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Manfred Galdes, the former director at the Financial Intelligence Analysis Unit has been appointed CEO and director of ARQ Group’s compliance and anti-money laundering branch. The ARQ Group is a multi-disciplinary professional services organisation set-up in joint venture between the founding partners of Capstone Group and those of law firm Fenech Farrugia Fiott Legal. Dr Galdes […]

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JERUSALEM (AP) — Israel’s leader says American support for his country will remain strong regardless of who is elected president in November. Benjamin Netanyahu told his Cabinet Tuesday about his meeting in New York with both presidential candidates, Hillary Clinton and Donald Trump, and relayed their strong words of support for Israel. The prime minister […]

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Oliver Zihlmann, a Swiss journalist from Sonntagszeitung answered that that London appeared “very often” indeed as the location where money hidden through secretive tax structures was laundered. He also said that does appear from the Panama Papers leak that a “large quantity” of the shell companies listed were held in the British Virgin Islands, and urges greater moves to increase […]

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HSBC isn’t the only bank hiding money offshore and laundering funds. While much coverage has been given to the “Panama Papers” the real story is still unfolding. A colossal trove of documents has been released in installments by the International Consortium of Investigative Journalists (ICIJ). Each batch reveals thousands of elite multinational companies, individuals, and government figures […]

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ISLAMABAD: In the recent wrangling over whether state institutions have the authority to deal with cases of money laundering and financial crimes following the revelations contained in the Panama Papers, the Anti-Money Laundering Act (AMLA) 2010 has often been cited as the operative law in this regard. The law, which was first introduced as an […]

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The leak identifies the directors of 175,000 companies incorporated in the Bahamas, often called the Switzerland of Central America.   The files unearth how a cadre of accountants and middlemen help the mega-rich and politically powerful to construct secretive offshore companies, trusts and foundations. While not illegal in itself, such structures are often used to […]

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* SFC directs brokers to tighten AML controls * HK world’s most active centre for shell companies (Adds background on Panama Paper leaks, lawyer comment) HONG KONG, Sept 21 Hong Kong securities regulator is investigating licensed brokerages and expects to lodge cases against some for inadequate internal anti-money laundering (AML) controls, it said on Wednesday, […]

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Records on tens of thousands of largely secrecy-clad companies registered in the Bahamas, including thousands with ties to Canada, have been divulged en masse as one of the world’s premier tax havens becomes the first to suffer a mass data leak since the Panama Papers. The leaked data exposes the holdings of a number of current […]

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* SFC directs brokers to tighten AML controls * HK world’s most active centre for shell companies (Adds background on Panama Paper leaks, lawyer comment) HONG KONG, Sept 21 Hong Kong securities regulator is investigating licensed brokerages and expects to lodge cases against some for inadequate internal anti-money laundering (AML) controls, it said on Wednesday, […]

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