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EU TACKLES VIRTUAL CURRENCY MONEY LAUNDERING RISK

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European Union states and legislators have agreed stricter rules to prevent money laundering and terrorism financing involving virtual currencies. The agreement is part of a broader set of measures to tackle financial crimes and tax evasion. It will end anonymous transactions on virtual currency pla...
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HSBC CONFIRMS IT WILL NOT BE CHARGED OVER MEXICAN MONEY LAUNDERING ALLEGATIONS

HSBC no longer faces prosecution in the US over allegations it laundered Mexican drug money. In 2012, the bank reached a d...
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MP’S SAY HS2 VULNERABLE TO FRAUD

HS2, the £55.7 billion project to build a new high speed rail line, is vulnerable to fraud and other financial errors bec...
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VW EXECUTIVE JAILED OVER EMISSIONS FRAUD

A US-based Volkswagen executive has been sentenced to seven years in prison and fined $400,000 for his role in the diesel ...
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PETROFAC MAY CUT ITS OPERATIONS IN WAKE OF BRIBERY INVESTIGATION

Oil services company Petrofac may quit its operations in the North Sea as it struggles to deal with a $1 billion debt and ...
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NEGLIGENT ACCOUNTANTS ATTRACT MONEY LAUNDERERS, SAYS TREASURY

Negligent or unwitting accountants risk becoming involved in money laundering as they are attractive to criminals, accordi...
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$238M FINE FOR DUTCH FIRM’S SIXTEEN YEARS OF BRIBERY

US officials say a Dutch maker of equipment for offshore oil drilling will pay $238 million to settle charges of paying br...
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TWO MORE CHARGED IN UNAOIL INVESTIGATION

Two more men have been charged with conspiring to pay bribes to secure Iraq contracts as a result of...


US SET TO BE MORE LENIENT TO COMPANIES THAT ALERT AUTHORITIES TO BRIBERY

Companies that voluntarily alert US authorities to bribery committed by their employees will be give...


ONE MILLION EURO FINE FOR LIFE ASSURANCE COMPANY’S MONEY LAUNDERING WEAKNESSES

The Central Bank of Ireland has fined a life assurance company €1 million for four breaches of the...


BRAZIL AND US INVESTIGATE QATARI PAYMENT’S LINK TO WORLD CUP

Authorities in the US and Brazil are investigating whether a $22 million payment by Qatar is linked ...


SFO USE OF EXPERT WITNESS BRANDED A “DEBACLE’’ BY APPEAL COURT

The Serious Fraud Office’s use of an expert witness who lacked expertise has been described as a ...


SWISS SAY JP MORGAN BROKE MONEY LAUNDERING RULES

Switzerland’s financial markets authority FINMA has found that JP Morgan’s Swiss subsidiary brok...