Saturday, June 19, 2021

Europe

UK’s Scotland Yard to review sex trafficking allegation against Ghislaine Maxwell

Scotland Yard has confirmed it is to review a dossier of allegations that Ghislaine Maxwell trafficked, groomed and sexually abused a string of girls and young women in London. Six women have come forward accusing Maxwell and the late financier,...

Former Unaoil executive jailed for paying bribes ordered to pay £402k in confiscation

Basil Al Jarah was jailed for three years and four months in October 2020 for paying more than $17m in bribes to secure more than a billions dollars worth of work in post-war Iraq. He was found to have benefited from the...

Latvian bank Rietumu Banka fined $6.9m for money laundering failures

Latvia’s Rietumu Banka has been fined 5.85 million euros ($6.96 million) for failure to vet its clients and monitor them for money laundering and terrorist financing, the country’s banking watchdog said on Thursday. The fine on the bank, which mainly...

EU takes Luxembourg to court over failure to implement money laundering rules

The European Commission on Wednesday took Luxembourg to court, asking the European Court of Justice (ECJ) to impose a daily penalty on the country for failing to put new EU rules to stop money laundering into law. Without the rules on...

Sweden charges former Bombardier executive with bribery in $340m Azerbaijan contract

An ex-employee of a unit of Canadian aircraft maker Bombardier, now owned by French firm Alstom, has been charged in Sweden on suspicion of bribing an Azerbaijani official to secure a rail equipment contract worth around $340 million. A Stockholm...

Lithuania cancels licence of local fintech implicated in Wirecard fraud scandal

Lithuania’s central bank has revoked the licence of a local fintech implicated in the Wirecard scandal because of major breaches of anti-money-laundering and counter-terrorist financing rules.    Prosecutors in Munich suspect that UAB Finolita Unio, a fintech registered in Lithuania’s capital...

Italian police probe DHL’s subsidiary for tax fraud

Italian tax police have seized assets worth more than 20 million euros ($24 million) from the local unit of logistics giant Deutsche Post DHL (DPWGn.DE) as part of a fraud investigation, a judicial document seen by Reuters showed on Monday. Deutsche Post...

France probes personal wealth of Lebanon’s central bank chief Riad Salameh

Paris financial prosecutors have opened a preliminary probe into criminal association and money laundering by Salameh, a source close to the investigation and a judicial source said, following a similar move by Switzerland. Its findings could shed light onto the origins of...

Cayman Islands cancels Hinduja Bank’s licence over money laundering charges

The Cayman Islands has cancelled the banking licence of Geneva-based  Hinduja Bank over charges of money laundering. International journal Global Banking Regulation Review on Wednesday reported that  the regulator Cayman Islands Monetary Authority (CIMA) had revoked Geneva-based Hinduja Bank’s...

Czech Prime Minister Andrej Babis faces $2 million fraud allegation

Czech police recommended for a second time on Monday that Prime Minister Andrej Babis should be indicted over fraud involving European Union subsidies. Prosecutors in Prague said they had received the results of the updated police investigation into Babis' alleged...

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