News

Regulator fines former Rabobank US executive for obstruction

A US financial regulator has fined the former CEO of Dutch lender Rabobank’s California arm $20,000 for refusing to hand over documents during an audit of the bank’s anti-money laundering procedures.

19 August 2022

Cryptocurrency money-launderer extradited to face charges in Oregon

A Russian citizen was extradited from the Netherlands to the US to face charges that he laundered the proceeds of ransomware attacks.

18 August 2022

UK lawyers point out holes in new property register

Speaking to GIR about a new registry for overseas owners of UK property, lawyers said that while the transparency rules are theoretically beneficial, certain glaring loopholes leave it vulnerable.

18 August 2022

Entain hit with record betting fine over “unacceptable” compliance failings

A gambling company under investigation for failing to prevent bribery has been hit with a record fine for breaching industry compliance rules around suspicious funds in a separate probe.

17 August 2022

Singapore charges ex-Wirecard employees

Singaporean prosecutors have charged three former Wirecard employees and a local businessman over an alleged scheme to embezzle funds from a subsidiary of the collapsed German payments company.

17 August 2022

AfDB sanctions appeals board confirms debarment of Ivorian construction company

The African Development Bank’s integrity unit said Entreprise de Commerce et de Construction Immobilière falsified documents in its bid for a construction project in the buildings that host the bank.

16 August 2022

Switzerland to return stolen Uzbekistan assets via UN development fund

The Swiss and Uzbek governments have reached an agreement to return at least $131 million that was allegedly embezzled from Uzbekistan by the daughter of the country’s former president.

16 August 2022

Defendant in Tuna Bonds case spared prison time

A Brooklyn federal judge sentenced ex-Credit Suisse executive Detelina Subeva to time served for accepting $200,000 in illicit funds from her boss. A source close to the matter told GIR that Subeva did not spend any time in custody after she was arrested and processed by the FBI.

15 August 2022

South Africa fines local bank over AML failures

South Africa’s central bank has fined Nedbank 35 million rands ($2.1 million) after an inspection beginning in early 2019 identified various problems in its compliance with anti-money laundering legislation.

15 August 2022

Lawrence Hoskins wins appeal in bribery case

A US appellate court held that Hoskins was improperly prosecuted under the FCPA, saying that the UK national was not an agent of a US concern.

12 August 2022

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