WESTERN UNION PAYS $60M FOR FRAUD AND MONEY LAUNDERING FAILURES
By Azizur Rahman.
Western Union is paying $60M to resolve allegations that it failed for more than a decade to maintain a programme to deter and report suspected fraud and money laundering. Read more
ONLINE CASINOS WARNED OVER MONEY LAUNDERING FAILURES
By Azizur Rahman.
Five online casino companies could lose their licences to operate, after the Gambling Commission warned they were not doing enough to stop themselves being used by money launderers. Read more
SHELL AND ITALIAN ENERGY COMPANY CHARGED OVER NIGERIAN OIL CORRUPTION
By Azizur Rahman.
A judge has ruled that Shell, Italian firm Eni and some of their senior figures should be tried for aggravated international corruption over their purchase of a Nigerian oil block. Read more
JP MORGAN FACING IN-DEPTH REVIEW OF MONEY LAUNDERING SYSTEMS AFTER SWISS FAILINGS
By Azizur Rahman.
Switzerland’s financial regulator FINMA is to conduct an in-depth review of JP Morgan’s Swiss unit's anti-money laundering systems. This follows last year’s finding by the regulatory body that the banking giant broke anti-money laundering regulations in its dealings with the Malaysian sovereign wealth fund, 1MDB. Read more
WORLD’S BIGGEST OIL RIG MAKER PAYING $422M TO SETTLE BRIBERY ALLEGATIONS
By Azizur Rahman.
The world’s biggest builder of oil rigs, Keppel Offshore and Marine, is paying $422 million to end a US bribery probe into illegal payments to officials at Brazil’s state-owned oil company, Petrobras. Read more
NEW DIRECTION AND NEW DIRECTOR FOR SFO?
By Azizur Rahman.
The Serious Fraud Office (SFO) is to take orders from a newly-created organisation. Read more
EU TACKLES VIRTUAL CURRENCY MONEY LAUNDERING RISK
By Azizur Rahman.
European Union states and legislators have agreed stricter rules to prevent money laundering and terrorism financing involving virtual currencies. Read more
HSBC CONFIRMS IT WILL NOT BE CHARGED OVER MEXICAN MONEY LAUNDERING ALLEGATIONS
By Azizur Rahman.
HSBC no longer faces prosecution in the US over allegations it laundered Mexican drug money. Read more
MP’S SAY HS2 VULNERABLE TO FRAUD
By Azizur Rahman.
HS2, the £55.7 billion project to build a new high speed rail line, is vulnerable to fraud and other financial errors because of a lack of “basic financial controls”, according to MP’s. Read more
VW EXECUTIVE JAILED OVER EMISSIONS FRAUD
By Azizur Rahman.
A US-based Volkswagen executive has been sentenced to seven years in prison and fined $400,000 for his role in the diesel emissions scandal. Read more
PETROFAC MAY CUT ITS OPERATIONS IN WAKE OF BRIBERY INVESTIGATION
By Azizur Rahman.
Oil services company Petrofac may quit its operations in the North Sea as it struggles to deal with a $1 billion debt and a bribery investigation. Read more
NEGLIGENT ACCOUNTANTS ATTRACT MONEY LAUNDERERS, SAYS TREASURY
By Azizur Rahman.
Negligent or unwitting accountants risk becoming involved in money laundering as they are attractive to criminals, according to the Treasury. Read more
$238M FINE FOR DUTCH FIRM’S SIXTEEN YEARS OF BRIBERY
By Azizur Rahman.
US officials say a Dutch maker of equipment for offshore oil drilling will pay $238 million to settle charges of paying bribes to officials in five oil-producing countries. Read more
TWO MORE CHARGED IN UNAOIL INVESTIGATION
By Azizur Rahman.
Two more men have been charged with conspiring to pay bribes to secure Iraq contracts as a result of investigations into oil contractor Unaoil. Read more
