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 …
Category: News
Jul 31 2021
How to green cryptocurrencies
Cryptocurrencies are big business. But many of them carry a heavy carbon footprint — putting them in the crosshairs of EU policymakers now determined to tackle climate change and reduce companies’ carbon emissions. Bitcoin, the biggest in the cryptocurrency world, costs some $40,000 to buy one unit, putting its market value at close to $750 billion (at …
Jul 29 2021
Bulgarian Coal Magnate’s Plants May Have Saved Around 30M Euros by Under-Declaring Emissions
OCCRP analysis shows two power stations associated with Hristo Kovachki have reported strangely low emissions figures for the past three years. Two coal plants linked to a Bulgarian energy tycoon appear to have under-declared carbon dioxide emissions for the past three years, data analyzed by OCCRP shows. The two plants together may have avoided paying …
Jul 25 2021
Trust No One: Top Kazakh Oligarchs And Dozens of Government Officials May Have Been Spied On With Pegasus
Two decades ago, at a meeting with top business leaders in his oil-rich Central Asian country, Kazakhstan’s President Nursultan Nazarbayev is famously known to have lost his temper. “I have created opportunities for you,” he said. “And you don’t pay taxes. You take your earnings abroad or buy real estate and luxuries.” Nazarbayev would go …
Jul 23 2021
Commission: Pandemic increased risk of corruption in Italy
![Although initiatives have been introduced to combat corruption and collaboration between institutions is working well, efforts have been "hampered by the excessive timeframe of criminal trials". [EPA-EFE/Riccardo Antimiani]](https://sineira.org/wp-content/uploads/2021/08/Copy-of-NEW-TEMPLATE-ARTICLE-3-800x450-1-300x169.png)
Freedom of the press, lack of independence of the judiciary and the management of migrants: The European Commission in its second EU-wide rule of law report released on Tuesday stated that during the COVID-19 pandemic, “the risk of corruption in Italy increased significantly”. While Hungary and Poland remain the ‘black sheep’ of the EU in …
Jul 21 2021
EU plans to make Bitcoin transfers more traceable
Proposed changes to EU law would force companies that transfer Bitcoin or other crypto-assets to collect details on the recipient and sender. The proposals would make crypto-assets more traceable, the EU Commission said, and would help stop money-laundering and the financing of terrorism. The new rules would also prohibit providing anonymous crypto-asset wallets. The proposals …
Jul 21 2021
5 reasons money launderers won’t worry about EU crackdown
Brussels has set its sights on dirty money. The European Commission on Tuesday unveiled a massive package of anti-money laundering initiatives to drive dirty money out of the bloc after repeated failures in supervision. The crowning feature of the four-pronged package is a plan to introduce a new EU anti-money laundering authority, known as AMLA. The …
Jul 20 2021
UK police seize record €210 million of cryptocurrency while investigating money laundering
Police in London have seized record hauls of cryptocurrency totalling €344 million as part of an investigation into money laundering after organised crime groups moved into crypto to wash their dirty money. The Metropolitan Police announced the seizure of £180 million (€210 million) of an undisclosed cryptocurrency on Tuesday. It came less than three weeks …
Apr 05 2021
The fight against offshore crime will be a long campaign
The fight against offshore crime will be a long campaign On the fifth anniversary of the Panama Papers’ launch, experts say there’s been progress in the fight against dirty money — but much more is needed. In May 2016, weeks after hundreds of journalists released the Panama Papers’ massive exposé of the secret financial dealings …
Apr 02 2021
Fishing with dynamite: the secret scheme that helped Namibia’s president stay in power
Facing a key party congress, top officials in Namibia’s ruling party allegedly skimmed money from a lucrative fishing deal to buy votes for President Hage Geingob. Top Namibian officials allegedly used a secret company to siphon millions of dollars from a state-backed fishing deal. Court documents obtained by reporters describe how the officials then funneled …