Hundreds of British properties suspected of belonging to corrupt politicians, tax evaders and criminals could be seized by enforcement agencies under tough new laws designed to tackle London’s reputation as a haven for dirty money. Huge amounts of corrupt wealth is laundered through the capital’s banks. The National Crime Agency believes up to £100bn of […]

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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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Iceland one of the few countries to get it right Though it’s nice to think otherwise, much of our world still functions on rewards and punishments. Do good, you get rewarded. Do bad, you get punished. These positive and negative incentives underpin our society and are widely supported because they generally work. But there are […]

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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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Eight months ago, Malta was rocked by the news that Konrad Mizzi, the then minister for energy and health, and Keith Schembri, the Prime Minister’s chief of staff, had opened secret companies in Panama very soon after taking up their roles in the new Labour government in 2013. They failed to declare they had opened […]

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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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KARACHI: Pakistan People’s Party (PPP) chairman Bilawal Bhutto on Monday said instead of facilitating investigation into Panama Papers revelations, Prime Minister Nawaz Sharif is blocking every attempt to protect himself. The PPP chairman took an exception to prime minister as he shared a news item on Twitter that reported  Mr Sharif is seeking  disqualification of petitions […]

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In several conflict-affected countries in East and Central Africa, the state has been hijacked and transformed from an institution that is supposed to provide social services and safeguard the rule of law into a predatory criminal enterprise that does quite the opposite. These criminal cells use state power to loot public coffers and natural resource […]

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