In The News
The UK is a haven for dirty money; more than £90 billion is estimated to be laundered through the country per year. The size of the UK’s financial and professional services sector, its open economy and the attractiveness of the London property market to overseas investors all make it unusually exposed to international money laundering risks.
PARIS (Reuters) - The international group that monitors money-laundering worldwide said on Friday Iran had until February to complete reforms that would bring it into line with global norms or face consequences.
Two former executives of oil and gas company Afren PLC were guilty of fraud and money laundering that involved personal gains of more than $17 million for the pair, a jury found on Wednesday.
Former Greek Cabinet minister Yannos Papantoniou was jailed awaiting trial on money laundering charges, two officials working for the Greek prosecution service said.
Washington (CNN) President Donald Trump told reporters Monday that the United States would increase its nuclear arsenal until other nations "come to their senses," threatening an arms race days after he said he would withdraw the US from a Cold War nuclear treaty.
The European Union is putting pressure on Danske Bank A/S to drop a non-disclosure agreement with the whistleblower behind money laundering allegations that have engulfed the lender.
Financial globalization has produced a world of large-scale cross-border flows of capital. Among those rivers of beneficial finance are concealed substantial streams of dirty money, money linked to illegal activities, from drug trafficking and terrorism to corruption and tax evasion.
- Inside S&P 500, most stocks in correction or bear market (Reuters); see also Can the Stock Market Predict the Next Recession? (Wealth of Common Sense)
- Have Institutional Investors Spoiled the Hedge Fund Party? (Institutional Investor)
- The Slow Death of Sears Is a Crisis for Struggling Malls — and an Opportunity (Bloomberg)
Malaysia charged ex-premier Najib Razak and one of his former finance chiefs with six counts of criminal breach of trust, accusing them of misusing 6.6 billion ringgit ($1.6 billion) of public funds.
The Trump administration has an opportunity to showcase its opposition to Iran this week when families of U.S. Marines killed in the 1983 Beirut bombings visit the White House to mark the anniversary of the attack.