Thursday, October 28, 2021

Europe

EU AML crackdown has Pilatus Bank and ABLV Bank in sight

The revelations that have surfaced situation at Malta’s Pilatus Bank and at Latvia’s ABLV will see European Union banks in the near future facing an anti-money laundering crackdown, according to top EU officials. The crackdown is expected before the end...

EU banks face money laundering action following collapse of Malta, Latvia banks

European Union banks face an anti-money laundering crackdown before the end of the year following allegations of wrongdoing at two Latvian and Maltese lenders, top officials say. The collapse of Latvia’s ABLV and the freezing of operations at Malta’s Pilatus...

SFO initiates criminal proceedings against Unaoil over Iraq bribery claims

The Serious Fraud Office has started criminal proceedings against Unaoil as part of its investigation into corruption at the oil services group. It follows criminal charges brought against four people in November for allegedly making corrupt payments to secure oil...

President Poroshenko’s offshore firm targeted in money laundering case linked to Panama Papers

The Financial Investigation Agency of the British Virgin Islands has investigated President Petro Poroshenko’s Prime Asset Partners offshore firm, which is registered there, suspecting it of money laundering, according to a leak of documents from Panama’s Mossack Fonseca registrar known...

Former Romanian senator and minister gets three years prison for bribery

Former Romanian senator Dan Sova, who also served as a transport minister in the Victor Ponta cabinet, was sentenced to three years in jail, no parole, for influence peddling and bribery. The High Court’s decision is final and Sova turned...

Spain’s King Felipe VI brother-in-law reports to jail after conviction for corruption

Inaki Urdangarin, the brother-in-law of Spain’s King Felipe VI, entered jail on Monday to serve a sentence of five years and 10 months after he was convicted last year in a corruption trial on counts including fraud and influence...

Bank of Latvia governor faces prosecution in bribery case

Latvia’s anti-corruption body on Monday asked prosecutors to launch a prosecution against a Bank of Latvia official following a bribery investigation into governor Ilmars Rimsevics. The Corruption Prevention and Combating Bureau (KNAB) said in a statement it had “sent...

EU starts open probe into Malta anti-money laundering agency over Pilatus bank

The European Banking Authority has opened a formal investigation into “shortcomings” over how Malta’s Financial Intelligence Analysis Unit (FIAU) enforced anti-money laundering rules at Pilatus bank. Malta’s regulators imposed a freeze on the business of Pilatus Bank in March after...

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