Thoughts on foreign corruption rankings

Tweet 2013 Corruption Index According to Transparency International‘s newly published 2013 Corruption Perceptions Index, the new top ten corrupt nations are Somalia, North Korea, Afghanistan, Sudan, South Sudan, Libya, Iraq, Uzbekistan, Turkmenistan, and Syria. The ten least corrupt are Denmark, New Zealand, Finland, Sweden, Norway, Singapore, Netherlands, Australia, Canada and Luxembourg. The results are based […]

FATF and G20 anti-corruption group work towards aligning efforts

Tweet Delegates from the Financial Action Task Force (“FATF“) and the G20 Working Group on Anti-Corruption (“G20 ACWG“) met in Paris today to discuss ways in which both groups could liaise to further initiatives to enforce anti-money laundering (“AML“) and anti-corruption legislation worldwide. Pursuant to the meeting, the delegates determined that the following areas in […]

G20 agrees to immigration policy measures to crack down on corrupt immigrants and proceeds of crime imported into G20 countries, including deportation of wealthy foreign nationals

Tweet Crackdown on foreign nationals with unverified funds The G20 leaders have endorsed a sweeping plan proposed by its Anti-Corruption Working Group (“ACWG“) in 2012 to tackle the illicit movement of proceeds of crime internationally by corrupt foreign nationals to other countries (usually done as part of an immigration process). The change is part of […]

French government concerned over potential money laundering with vineyard purchases

Tweet Tracfin report highlights money laundering In its annual money laundering report, France’s Traitement du Renseignement et Action Contre les Circuits Financiers Clandestins (“Tracfin“) expressed concern over money laundering risks associated with the sale of France’s most renowned wineries to investors from China, Hong Kong and Russia. The concern stems from the increase in suspicious […]

MUHC McGill P3 infrastructure case garners another arrest for financial crime

Tweet Wife of Dr. Arthur Porter out on bail Pamela Porter, the spouse of Dr. Arthur Porter, has been released on bail in Montreal after spending more than two months in jail. Ms. Porter is charged with conspiracy and money laundering for Dr. Porter. The money laundering charges stem from what is emerging, if the allegations […]

Lawyers arrested in largest mafia crackdown in Roman history

Tweet Mafia Crackdown in Rome Italian police arrested over 120 people today in its largest crackdown on mafia activities around Rome, including several lawyers alleged to have undertaken transactions and incorporated companies on behalf of the ‘Ndrangheta. According to the police, the ‘Ndrangheta ran multiple gambling operations and drug trafficking operations, and laundered the proceeds […]

$120 billion removed from China by public officials reports finds

Tweet According to a report published in China by the Central Bank (that has since been removed from the Bank of China’s website) and reported by the BBC, close to 20,000 public officials in China have collectively removed about US$120 billion from China and transferred it to just 4 countries –> Canada, the US, Australia […]

Macau Court sentences whole family of government minister for money laundering infrastructure procurement

Tweet Government official had assets worth 57 times his salary The Collegial Bench of the Court of First Instance of Macau today sentenced a whole family for money laundering in connection with bribes over a government infrastructure project. The family members are related to Macau’s former Secretary for Transport and Public Works, Ao Man Long. […]

Hong Kong Court orders immigrants to Vancouver to repay $213 million in proceeds of crime laundered in Canada and the US

Tweet $485 Million Laundered to Vancouver and Elsewhere In a fascinating series of judgments from Hong Kong, six wealthy immigrants to Vancouver from China, who laundered over US$485 million through casinos in Macau and Las Vegas, and banks in Canada and Hong Kong, were ordered to repay stolen funds to the Bank of China. The […]