Feds step up efforts to target Venezuelans accused of money laundering in Miami
MIAMI — Federal authorities are stepping up their efforts to seize millions of dollars deposited in Miami bank accounts that they say were used to pay kickbacks to Venezuelan government officials for inflated contracts with the national oil company, PDVSA.The latest target: Natalino D’Amato, a contractor accused of selling $160 million worth of equipment to subsidiaries of the Venezuelan oil monopoly, transferring that money to Miami bank accounts and then paying bribes to government officials to secure the PDVSA deals, according to an indictment. Of that total, U.S. authorities have moved to ...
Hong Kong police arrest man for money laundering after crowdfunding for protest sentencing
Hong Kong police have arrested a man for alleged money laundering in relation to an online crowdfunding campaign he launched after he was found guilty of assaulting an officer during a protest last November.Police said on Monday that a 30-year-old man was detained on Sunday after the force investigated a public appeal he made on social media in September in the hope of raising HK$500,000 for his family.Chief Inspector Tang Hoi-tung of the Narcotics Bureau (Financial Investigation) said the suspect cited financial hardship, saying his conviction cost him his job and he needed money to support h...
Hong Kong Free Press
NAHCO denies allegations of money laundering, others by former employee
The Nigerian Aviation Handling Company (NAHCO) Plc, at the weekend, replied the erstwhile managing director of its subsidiary, NAHCO Free Trade Zone (FTZ), Baba Yusuf who leveled series of allegations against it, saying they are baseless and malicious.The company, which expressed surprise that the House of Representatives was going ahead with the hearing on the allegations submitted by Yusuf even when all parties knew that the case is in court, asked Yusuf to wait for court judgment on the matter rather than acting in court contempt.Managing director of NAHCO, Olatokunbo Fagbemi, who led other...
Australian bank to pay record fine for money laundering
SYDNEY: Australia’s Westpac bank has agreed to pay a record A$1.3 billion (US$923 million) fine for more than 23 million breaches of money-laundering laws, the bank and regulators announced on Thursday.“I would like to apologise sincerely for the bank’s failings,” Peter King, Westpac’s chief executive, said in announcing the fine, the largest civil penalty in Australian history.The fine, agreed between Westpac and AUSTRAC, Australia’s financial intelligence watchdog, must be approved by a federal court.AUSTRAC said the proposed fine “reflects the seriousness and magnitude of compliance failing...
The Bangkok Post
Dar food vendor arraigned over money laundering
Dar es Salaam. A Dar food vendor, Tatu Nassoro and three others were on September 16, charged with three counts of economic crimes at the Kisutu Resident Magistrate’s Court.The quartet is also linked with money laundering of Sh62 million and being found in possession eight vehicles, which were all alleged to be proceeds of drug trafficking.Ms Nassoro, a resident of Temeke Sandali, Veterinary Street, a food vender, was arrested early this month after she was allegedly found in possession of 51 kilogrammes and 67 pellets of heroin.“She looked simple – and there was no way one could think that sh...
Murdered Israelis involved in 'money laundering,' says Mexico government
Mexico City (AFP) - Two Israelis shot dead in Mexico City were involved in money laundering and had links to local mafias, Mexico's government said on Friday.Alon Azulay, 41, and Benjamin Yeshurun Sutchi, 44, were gunned down in a restaurant inside a mall in the south of the sprawling capital city on Thursday.Israel's embassy in Mexico said both had "criminal records in Israel as well as Mexico.""These are a settling of scores between organized criminal gangs with various interests," said Alfonso Durazo, the secretary of security and civilian protection.He said the criminal gangs involved were...
DR Congo banks vow to tackle money laundering at US request
Kinshasa (AFP) - Lenders in the DR Congo will move to tackle money laundering at the request of the United States, which has expressed support for new president Felix Tshisekedi, the mineral-rich country's banking association said.The US Treasury and State Department had asked Congolese banks to put measures in place against sanctions-busting, money laundering, the financing of terrorism, and corruption, the Congolese Association of Banks (ACB) said in a statement received by AFP on Thursday.In response, the ACB said it had asked all banks to "raise the level of anti-money laundering mechanism...
US indicts two Venezuelan ex-officials for money laundering
Washington (AFP) - The US government on Thursday announced indictments against a current and former official in Venezuelan President Nicolas Maduro's administration on money laundering charges.Minister of Electric Power Luis Motta Dominguez -- whom Maduro replaced following nationwide blackouts in March -- was charged along with Eustiquio Jose Lugo Gomez, a top official who still works at the ministry."Rather than use their official positions to serve the Venezuelan people, Motta and Lugo illegally enriched themselves and contributed to the electricity crisis," a statement from the US Treasury...
Japan Post Bank to cap int'l transfers to counter money laundering
Japan Post Bank Co. plans to set a limit on over-the-counter international cash transfers of 5 million yen ($46,000) to combat money laundering, sources close to the matter said Tuesday.Japan Post Bank with around 120 million account holders, the most among domestic banks, currently has no limit on overseas remittances and is seeking to address concerns that such transfers could be used for illicit activities, including terrorist financing, the sources said.The move by the state-backed bank comes as Japan faces an assessment this fall by the Financial Action Task Force, an international standa...
G-20 to beef up steps against money laundering using crypto-assets
The Group of 20 major economies plan to agree on compiling additional steps by 2021 against money laundering and funding of terrorist groups through the use of crypto-assets, sources close to the matter said Saturday.The G-20 finance ministers and central bank governors are set to urge the Financial Action Task Force, an international body, on devising new measures to prevent the malicious use of cryptocurrency and other advanced technologies when they gather in Fukuoka for a two-day meeting from June 8, the sources said.The chiefs are also expected to formally agree on strengthening regulatio...