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 […]
Tweet The EU investigation into the use of wind farms to launder proceeds of crime widened today with several police raids in Austria and Germany, including a raid on the offices of the state-owned bank, HSH Nordbank. The Nordbank financed several wind farms, including one in Calabria, Italy, alleged to have been erected and operated […]
Tweet Kim Rothstein, the so-called “free-spending” wife of Scott Rothstein, was sentenced to 18 months in jail yesterday for plotting to hide over $1 million worth of jewelry to avoid it being seized as proceeds of crime. Mr. Rothstein is a former lawyer incarcerated for running a $1.4 billion Ponzi scheme through the trust accounts […]
Tweet After more than a year, the Securities and Exchange Commission has released draft crowdfunding equity rules (the “Rules“) for comment under the U.S. Jumpstart Our Business Startups Act (the “JOBS Act“). The JOBS Act was brought into force in 2012 in an effort to facilitate the injection of capital in growing companies and start-ups. With respect to crowdfunding, its […]
Tweet Blanchiment d’argent La police israelienne assist la France dans l’enquete sur des faits de blanchiment d’argent concernant le scandale de la fraude au marche du carbone en France qui aurait coute 1,6B d’euros au Tresor public. Le scam consistait a acheter hors taxes aux Pays-bas des quotas de CO2 credits dans le cadre de […]
Tweet Largest insider trading settlement ever SAC Capital Advisors has reached a global settlement (the “Settlement“) with the U.S. Department of Justice to plead guilty to insider trading, pay a record US$1.8 billion penalty, and agree to a term of probation of five years. The Settlement is the largest financial penalty in history for insider […]
Tweet Organized Crime & Private ATMs According to a report by the RCMP reported by Radio-Canada, organized crime in Canada is using private ATMs to launder proceeds of crime. The RCMP estimates that at least $315 million is laundered each year by private ATMs and some of those are connected to the Hells Angels in […]
Tweet Increased pressure on Macau’s casinos Macau is facing a delicate balancing act – how to satisfy mounting international demands to crack down on money laundering and other criminal activities in its $38 billion gambling industry, without killing the goose that lays the golden egg. Finding a way of regulating the junket operators, which bring […]
Tweet This article was originally published in Asia Gambling Brief. Macau junket operators of casino VIP rooms working on image Some of Macau’s biggest junket operators — also known as VIP gambling promoters — are planning to exhibit at next month’s Macau Gaming Show in a sign this integral part of the local gaming scene […]
Tweet 2013 Annual Report In its 2013 Annual Report, a U.S. Congressional Executive Commission has urged Macau to develop law enforcement mechanisms to combat money laundering at its casinos. The Congressional members found that the gambling industry in Macau was reportedly tied to widespread corruption and the laundering of large amounts of money out of […]