Global Investigations Review - The law and practice of international investigations


Thursday, 28 November 2019

Ex-Maldives president receives five-year sentence for money laundering

A court has sentenced a former president of the Maldives to five years in prison for laundering more than $1 million in stolen funds, according to Reuters.

Abdulla Yameen was convicted on 28 November. He was accused of channelling embezzled government money through a private company as part of a deal to lease tropical islands for hotel development – charges he has repeatedly denied.

Yameen failed to secure re-election in 2018 and has since faced scrutiny for allegedly awarding government contracts to Chinese companies at inflated prices, according to Reuters.

Swiss police to update money laundering reporting system

Federal police in Switzerland have announced they will update the Money Laundering Reporting Office’s (MROS) reporting systems in 2020.

MROS’s current data reporting system has been in use since 1998 and requires staff to manually enter suspicious activity reports submitted by banks, meaning investigators cannot search the data quickly.

From 2020, Swiss Federal police will switch to a digital reporting system called goAML, provided by the United Nations Office on Drugs and Crime.

Swiss authorities say this system is already used by nearly 50 financial intelligence authorities around the world, including in Germany and the Netherlands.

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