Prosecutors on Tuesday accused a former senior Petrobras executive of racketeering, bribery and money laundering through Switzerland and Uruguay in a widening kickback scandal that has engulfed Brazil’s state-run oil company. Nestor Cerveró was head of international operations at Petroleo Brasileiro SA, as the company is known, from 2003 to 2008, when prosecutors say he […]

The leaked revelations about the tax-evading activities of the Swiss subsidiary of HSBC Bank rumble on. Britain’s Chancellor of the Exchequer has faced questions as to why, despite evidence of 1,100 tax-evading accounts being passed to the government in 2010, there has been only one prosecution—and why the chairman of HSBC was subsequently made a […]

Cyprus’s former interior minister and his son were jailed in Greece on Wednesday for helping a leading Greek politician take millions of euros in kickbacks from arms deals, according to court officials and documents. Dinos Michaelides and his son Michalis were found guilty of money laundering and each sentenced to 15 years in prison, court […]

The ultimate owners of companies will have to be listed in central registers in EU countries, open both to the authorities and to people with a “legitimate interest”, such as journalists, under a Parliament/Council deal endorsed by the Economic and Monetary Affairs and Civil Liberties committees on Tuesday. The new anti-money laundering directive aims to […]

Prosecutors in Geneva have raided the offices of HSBC’s scandal-hit private bank as pressure increases on Britain’s biggest lender over allegations of money laundering and tax evasion. The raid forms part of a criminal inquiry amid accusations that the bank helped customers, including arms dealers and blood diamond traders, move money around the world. It […]

Transparency International calls on governments and their enforcement authorities across the world to combine forces to end money laundering impunity. These authorities should assign the highest priority to prosecuting individuals and banks when clear evidence exists of their involvement in illicit international financial transactions. José Ugaz, Chairman of the Board of Directors of Transparency International, […]

The tightening of international banking standards is making it difficult for low-income people in the global south to get access to banking service When people in developing countries don’t have access to a bank account, physical proximity to a bank is usually the first challenge that springs to mind, but sometimes the reason a person […]

Former Prime Minister of Mauritius Navin Ramgoolam is set to be released on bail Saturday evening following a decision of court after a bail motion was heard on the same day. The magistrate of the Bail and Remand Court in the capital Port- Louis gave a ruling granting bail to Ramgoolam for a surety of […]