David Cameron will promise to act against corrupt foreigners who buy up luxury properties in the UK using secretive holding companies to hide their “dirty money”. The prime minister will use a visit to Singapore to make an anti-corruption speech on Tuesday in which he will express concern that some properties, mainly in London, “are […]

Brazilian prosecutors officially charged Marcelo Odebrecht, CEO of construction firm Odebrecht SA, with corruption on Friday as part of a sweeping probe into oil and gas firms. Odebrecht was charged with corruption, money laundering and criminal conspiracy, Reuters said. Prosecutors also allege that Odebrecht SA laundered more than 1 billion reais, or about $300 million, […]

The Council of Europe’s anti-money laundering watchdog said that Cyprus banks seem to have made significant progress in banking checks and will report on its next assessment in September. Money laundering – the process through which criminals give an apparently legitimate origin to proceeds of crime – is an expanding and increasingly international phenomenon. Current […]

Thematic Paper on Money Laundering Relationship between Money Laundering,Tax Evasion and Tax Havens. Money laundering is a very vast and complex topic, which requires a flexible and thoroughgoing political response to it. The present paper will only deal with the relationship between money laundering tax evasion and tax havens, for practical reasons and to remain […]

In a milestone day for Brazil’s biggest-ever corruption investigation, a judge handed down the first punishments to former executives at a building company and a top CEO was indicted. Judge Sergio Moro sentenced Camargo Correa SA’s ex-President Dalton Avancini along with Eduardo Leite, the conglomerate’s former vice president, to 15 years and 10 months for […]

The Financial Action Task Force (FATF) has published a report on money laundering, terrorist financing risks and vulnerabilities associated with gold. The report provides a series of case studies and red flag indicators to raise awareness of the vulnerabilities of gold and the gold market from an anti-money laundering and terrorist financing perspective. Copies of […]

US authorities are investigating German banking giant Deutsche Bank over alleged money laundering in Russia, people familiar with the matter said Monday. The investigation centers on billions of dollars’ worth of transactions carried out by Deutsche Bank in Russia that New York state regulators believe may have been used to disguise money illegally moved out […]

Gomorrah author Roberto Saviano says ‘the British treat it as not their problem’ The City of London is the money-laundering centre of the world’s drug trade, according to an internationally acclaimed crime expert. UK banks and financial services have ignored so-called “know your customer” rules designed to curb criminals’ abilities to launder the proceeds of […]