On page 232 of ING Bank’s 2016 annual report, the company admitted it was “the subject of criminal investigations by Dutch authorities regarding various requirements related to the on-boarding of clients, money laundering, and corrupt practices.” It added that the bank has received related information requests from U.S. authorities and that it is “cooperating with […]

Swiss federal prosecutors have launched a criminal investigation into whether the private bank Lombard Odier failed to prevent money laundering involving the daughter of the former Uzbek president, they said on Thursday. The Office of the Attorney General said it had opened an investigation into the bank, a former employee and persons unknown, which suggests […]

Sweden’s Telia Company said in a quarterly report released Friday that it has recorded a provision of $1.45 billion to settle investigations by U.S. and Dutch authorities of bribery in Uzbekistan. Telia was formerly known as TeliaSonera. The governments of Sweden and Finland are the biggest shareholders. The company said $1.45 billion represents its current […]

It is alleged that an Irish bank – Bank of New York Mellon Investment Servicing (International) in Ireland, which is headquartered in Dublin – used to funnel cash in $114m global bribes scandal US authorities put stay on court order to seize Irish-based assets in telecoms corruption probe, writes Simon Rowe Bribes were allegedly paid […]

The DoJ has moved to seize around $1 Billion in assets in the Uzbekistan telecoms scandal. It is alleged that VimpelCom and MTS, based in Russia, and TeliaSonera of Sweden gave bribes to secure a 3G mobile network in Uzbekistan. The Department of Justice has asked several European countries last week to freeze about $1 […]