Wednesday, January 20, 2021

Europe

UK fraud office drops bribery probe into British American Tobacco

The Serious Fraud Office today dropped its investigation into allegations of bribery at British American Tobacco’s East African operations but said it would continue assisting other law enforcement in their investigations. A whistleblower who worked for BAT for 13 years...

Former Petrofac senior executive pleads guilty to bribery charges

The bribery scandal at Petrofac deepened last night when a former senior executive at the oil services group pleaded guilty to three offences related to $3.3 billion of work that it secured in the United Arab Emirates. The Serious Fraud...

European Central Bank’s President claims bitcoin enables money laundering

European Central Bank President Christine Lagarde took aim at Bitcoin’s role in facilitating criminal activity, saying the cryptocurrency has been enabling “funny business.” “For those who had assumed that it might turn into a currency -- terribly sorry, but this...

Romanian President approves bribery probe against former PM Tariceanu

Romanian President Klaus Iohannis approved on Wednesday a request from anti-corruption prosecutors to allow a criminal investigation against former prime minister and senate speaker Calin Popescu Tariceanu for suspected bribe-taking. Tariceanu, 68, has denied all wrongdoing. Prosecutors have said Tariceanu received...

Former Italian MP gets 4 years for taking bribes from Azerbaijan politicians

A court in Milan sentenced Luca Giuseppe Volontè, former member of the UDC and member of the Parliamentary Assembly of the Council of Europe, to four years in prison for corruption, Il Fatto Quotidiano reports. He is accused of abusing his function,...

UK public warned about crypto investment risks

Consumers should be prepared to lose all their money if they invest in schemes promising high returns from digital currencies such as bitcoin, a City watchdog has warned. The volatile nature of cryptoassets was highlighted again on Monday as bitcoin dropped...

Romania prosecutors probe ex-minister Costel Alexe over bribery and embezzlement allegations

The National Anticorruption Directorate (DNA) announced that the prosecutors have officially started the criminal investigation against the former Liberal environment minister Costel Alexe for bribery and incitement to embezzlement. DNA prosecutors say that, in March-April 2020, Alexe, who was environment...

Denmark drops money laundering charges against ex-Danske bankers

Danish prosecutors said on Thursday they had dropped charges against six former Danske Bank employees as part of an investigation into the bank’s involvement in one of the world’s biggest money-laundering scandals. Danske Bank is under investigation in several countries,...

UK tax authority fines money services firm MT Global $32m over anti-money laundering failures

Britain’s tax authority has slapped a record 23.8 million pound ($32.4 million) fine on MT Global Ltd, a private money services business, for significant breaches of anti-money laundering regulations. Her Majesty’s Revenue and Customs (HMRC) said on Thursday it had...

French bank fined $8.6m for processing payments for sanctioned Syrian banks

The U.S. Treasury Department imposed an $8.6 million fine on a French bank that officials said processed payments for blacklisted Syrian financial institutions. Union de Banques Arabes et Françaises SA, a Paris-based bank that facilitates trade finance between Europe and...

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