Author's posts
Oct 29 2021
Leak reveals how Swiss wealth consultants shield global cast of suspects
For six decades, one of Switzerland’s largest fiduciary firms has pledged to protect its clients’ fortunes from tax collectors, family members and others who may try to claim a share. “Think big!” the Fidinam Group says on its website. “We take care of everything else.” One client who thought big – too big, according to Italian prosecutors – was …
Oct 29 2021
Putin image-maker’s role in billion-dollar cinema deal hidden offshore
An Oscar-nominated film producer, Ernst, then 53, had been boss of Russia’s leading TV network, Channel One, for as long as Putin had been president, and he had played a critical role in creating Putin’s image as the savior of the Russian state. As the 2014 Sochi Winter Olympics approached, Konstantin Ernst, received the task …
Aug 31 2021
Global watchdog urges Japan to boost fight against money-laundering
A global financial crimes watchdog urged Japan on Monday to improve cooperation between different government agencies as part of efforts to combat money-laundering and the financing of terrorism. Responding to the report by the Financial Action Task Force (FATF), Japan’s finance ministry announced a three-year action plan that will include an anti-money laundering inter-agency task …
Aug 31 2021
United Arab Emirates: Nicola Sharp, Of Financial Crime Specialists Rahman Ravelli, Considers Dubai’s Latest Efforts To Combat Money Laundering
A specialist court has been created in Dubai to tackle money laundering and other financial crimes. The new court is being set up within the Court of First Instance and Court of Appeal, as part of the emirate’s attempts to enhance the integrity of its financial system. Its creation comes after the United Arab Emirates …
Aug 25 2021
UK authorities seize Ethereum worth $9.5 million found in USB sticks
Greater Manchester Police’s Economic Crime Unit of the United Kingdom has conducted a seizing of around $22.25 million after intelligence inquiries found USB sticks with significant amounts of Ethereum (ETH). According to the announcement made by the officials, investigators found $9.5 million worth of ETH, detailing that $12.7 million was found afterwards, without specifying which …
Aug 17 2021
The Golden Friends and Neighbors of Cypriot President Nicos Anastasiades
Cyprus’s “golden passport” program is considered a corrupt free-for-all that gave kleptocrats, oligarchs, and criminals access to European citizenship. From Putin crony Oleg Deripaska to fugitive Malaysian fraudster Jho Low of the infamous 1MDB scandal, Cyprus’s willingness to sell citizenship to unsavory people has been a black eye for the European Union as it ramps …
Aug 17 2021
How Huobi fights against cryptocurrency risk
Since Bitcoin (BTC) started gaining popularity in recent years, governmental departments around the world have been keeping a close eye on cryptocurrency. Originally, the danger associated with Bitcoin was often described as “speculative risk.” The lack of regulation and reliable information in the crypto market, coupled with the rapid increase in the value of …
Aug 17 2021
Chase bank accidentally leaked customer info to other customers
Chase Bank has admitted to the presence of a technical bug on its online banking website and app that allowed accidental leakage of customer banking information to other customers. New York City-based JPMorgan Chase Bank is a financial services giant with a $120 billion annual revenue and over 250,000 employees worldwide. Personal details of Chase bank customers including …
Aug 04 2021
It’s time to shake up Europe’s fiscal rules, says Irish central banker
Europe has to radically rethink its economic policies if it wants to move toward carbon-emission neutrality and apply lessons learned from past crises. But the European Central Bank can’t do all the heavy lifting. That’s the message from Ireland’s central bank chief, Gabriel Makhlouf, who also sits on the ECB’s policymaking body, the Governing …
Jul 31 2021
Operation OPSON X: Over 15.000 Tonnes of Illegal Food and Beverages Taken off the Market
On 22 July 2021, Europol, Interpol and OLAF reported on the successes of operation “OPSON X”. This operation, which is carried out each year, targets trafficking of counterfeit and substandard food and beverage. The meanwhile tenth operation of this kind was carried out from December 2020 to June 2021 and involved law enforcement authorities in 72 …