Money Laundering

Professor Paul Heywood of Nottingham University told Parliament’s International Development Committee (IDC) the role of Britain and the City of London “in allowing corrupt money to flow should not be underestimated.” A report published by the committee on Wednesday called on Britain to persuade overseas territories to create public registers of beneficial ownership in a […]

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A daily roundup of corruption news from across the Web. We also provide a daily roundup of important risk compliance stories via our daily newsletter, The Morning Risk Report, which readers can sign up for here. Follow us on Twitter at @WSJRisk. Bribery: Brazil’s development bank has frozen dozens of projects amid the country’s broader corruption […] […]

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18 October 2016 · Transparency International Secretariat <!– –> Transparency International, the global anti-corruption movement, calls on the government of Panama to set a date for the release of its official inquiry into financial reforms related to the publication of the Panama Papers. Last week the government said the independent committee on financial reform had […]

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A daily roundup of corruption news from across the Web. We also provide a daily roundup of important risk compliance stories via our daily newsletter, The Morning Risk Report, which readers can sign up for here. Follow us on Twitter at @WSJRisk. Bribery: An NCIS agent was sentenced to 12 years in prison in the U.S. […] […]

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 Print NEW YORK – A document newly released by WikiLeaks shows how Hillary Clinton’s 2016 presidential campaign chairman, John Podesta, was able to shield from government regulators and the American public the shares of stocks he received as a member of the board of a company that received millions from a Putin-connected Russian government fund […]

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By Richard Crump Law360, London (October 13, 2016, 9:57 PM BST) — The European Union needs to be more rigorous in enforcing existing rules to combat money laundering and terrorist financing in the wake of the Panama Papers release, regulators told the European Parliament Thursday. Current rules that force banks to provide information to police […]

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 Print NEW YORK – Emails released this week by Wikileaks indicate John Podesta, chairman of Hillary Clinton’s 2016 presidential campaign, laundered shares of stock he received from an energy company cited in the Panama Papers money-laundering probe that has received funding from the Russian government. WND reported Oct. 6 Podesta had been paid an undisclosed amount for serving on […]

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On October 3rd, the Financial Crimes Enforcement Network (FinCEN) assessed a $12 million penalty against the sports betting company CG Technology. Like something out of a bad TV crime drama, CG executives were involved with an illegal gambling operation dubbed the “Jersey Boys.” CG failed to implement an anti-money laundering (AML) compliance system and to […]

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What is the 4MLD? The 4MLD was published in the European Union (EU) Official Journal on 5 June 2015 to give effect to updated standards set by the Financial Action Task Force (FATF), an inter-governmental body which promotes standards to combat money laundering and terrorist financing.  On 15 September 2016, Her Majesty’s Treasury (HMT) published a consultation on the […]

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THE tax department told MPs on Wednesday it has identified 600 individuals from 1,050 named in various companies included in the so-called Panama Papers, while the securities and exchange commission said it had located three Cypriot politically-exposed persons (PEPs). The securities and exchange commission, CySEC, told MPs it had located 63 companies under its supervision, […]

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Data leaks and account closures by overseas banks are tainting the Caribbean as a viable place for international business, according to attorney and former banking executive Cheryl Bazard. These leaks, including the ‘Panama Papers’ and the ‘Bahamas leaks’, are increasingly revealing confidential information, while account closures linked to derisking channel funds underground. “It scares those […]

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