money laundering
-
A Ministry of Foreign Affairs (MFA) director-general who was given a week’s jail for lying over the use of a diplomatic bag service saw his appeal against the sentence dismissed on Monday (Feb 10). Gilbert Oh Hin Kwan, 46, pleaded guilty last April to giving false information to a public servant after lying to his superior that…
-
Controversial crossdresser, Idris Okuneye, aka Bobrisky, may face fresh criminal charges over claims that he served his jail term in a private apartment and bribed officials of the Economic and Financial Crimes Commission to drop money laundering charges against him. Sunday PUNCH exclusively gathered that a panel set up to investigate the claims recommended that…
-
A 63-year-old man was charged in court on Friday (Aug 23) with a slew of offences, including cheating, money laundering and failing to report movements of cash into Singapore. South Korean Kim Taek Hoon faces a total of 21 charges. Nine of them are for cheating several logistics providers, another four are for cheating Singapore Customs as well…
-
Religious sect indicted for money laundering not church, mosque – EFCC The Economic and Financial Crimes Commission has clarified that the religious sect that was revealed by its Chairman, Ola Olukoyede, to have been indicted for money laundering is neither a church nor a mosque. Olukoyede had revealed that the anti-graft agency traced the sum…
-
Cryptocurrency exchanges could be forced to collect the details of people sending and receiving crypto under new rules proposed by the European Commission. The EU’s executive branch announced the potential change on Tuesday as part of a package of reforms aimed at tackling financial crime within the bloc. “The aim of this package is to improve…
-
Tax evasion may be America’s biggest game of hide-and-seek, especially when it comes to people who park their money in offshore tax havens. In 2010, President Obama signed one of the toughest laws ever on the issue. The Foreign Account Tax Compliance Act, or FATCA, required all foreign financial institutions to automatically provide the Internal…
-
Money laundering is an offense in which people try to “clean” money obtained from illegal activities so that law enforcement cannot trace the illegal money to them. The similar offense of money structuring involves breaking large financial transactions in many smaller transactions to avoid federal reporting requirements. In both cases, the act at issue attempts…
-
GOLDMAN SACHS has issued an apology to the Malaysian people for one of its former banker’s role in the 1Malaysia Development Berhad (1MDB) sovereign state fund scandal. The banks Chief Executive Officer David Solomon, however, said the bank had conducted due diligence before every transaction which amounted to billions of dollars. Malaysian authorities and…
-
In a bid to reduce its foreign tax bill, the world’s largest search engine giant Google is revealed to have moved billions to a tax haven in 2017. Documents filed at the Dutch Chamber of Commerce have revealed that the Alphabet-owned company moved $22.7 billion through a Dutch shell company to Bermuda during the…
-
Nigeria’s Economic and Financial Crimes Commission (EFCC) has asked the Federal High Court in Enugu State to grant an order of interim forfeiture of the $2.8 million seized by its officers in the eastern state. The motion was filed at the Federal High Court sitting in Enugu State. Information from the EFCC show that…
-
A day after Rosmah Mansor was arrested by Malaysia’s anti-graft authorities as part of what has become the world’s biggest scandal, the country’s former first lady has been charged on 17 counts of financial misappropriation. Image shows Najib Razak and Rosmah Mansor After spending a night in detention following her arrest by the Malaysian Anti-Corruption…
-
Apple, Bono and Queen Elizabeth II are just a few of the big names and companies revealed in the Paradise Papers leak to have shifted money across the globe to cut tax. The spotlight on the tax affairs of the rich and powerful comes after a trove of documents was released by the US-based International…
-
On April 3, the South African Presidency strongly rejected allegations that President Jacob Zuma laundered 6 billion rand (about 400 million U.S. dollars) to Dubai, the United Arab Emirates (UAE) for a wealthy family in India known as the “Gupta family”.
You must be logged in to post a comment.