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: The reputed ringleader in a Spanish corruption case admitted to paying bribes. (El […] […]

by

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: The reputed ringleader in a Spanish corruption case admitted to paying bribes. (El […] […]

by

The Panamanian foundation was set up in August 2004 as Stellar International Foundation and renamed Stellar International Art Foundation in February 2008. (Photo for representational purpose) London-based arms agent Sudhir Choudhrie and his family members are beneficiaries of a Panamanian foundation set up in 2004. Records of Mossack Fonseca — the law firm whose data […]

by

Video: Matthew Mirabelli Minister Konrad Mizzi today refused to give more details about his proposed business in Panama, which according to e-mails sent by his financial advisers Nexia BT was set up for operations in the recycling and remote gaming sectors. Dr Mizzi was also asked why he wanted to avoid alerting local banks about […]

by

Nigerian lawyers meet Attorney General over raid on judges A meeting between present and former leaders of the Nigerian Bar Association and the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, and some of his predecessors in the office is underway at the NBA House, Abuja. The meeting, which began on Thursday morning, […]

by

The Panamanian foundation was set up in August 2004 as Stellar International Foundation and renamed Stellar International Art Foundation in February 2008. (Photo for representational purpose) London-based arms agent Sudhir Choudhrie and his family members are beneficiaries of a Panamanian foundation set up in 2004. Records of Mossack Fonseca — the law firm whose data […]

by

Nigerian lawyers meet Attorney General over raid on judges A meeting between present and former leaders of the Nigerian Bar Association and the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, and some of his predecessors in the office is underway at the NBA House, Abuja. The meeting, which began on Thursday morning, […]

by

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 […]

by

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 […]

by

 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 […]

by

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 […]

by

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 […]

by

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 […]

by