Late dictator’s daughter jailed for 13 years

A woman once described as “the most hated in Uzebekistan” has been jailed for 13 years after being found guilty of heading a crime gang involved in extortion, fraud and money laundering. Gulnara Karimova, daughter of the late dictator Islam Karimov, is already serving a five-year sentence on corruption charges…

Charities used to launder cash from sale of counterfeit medication

Eight charities have been used to launder £10m raised from the sale of fake slimming and erectile dysfunction pills. The Charity Commission is looking to recover the funds following its investigation, with the Metropolitan Police, into Chabad UK and seven linked charities. All eight were based in Stamford Hill, north…

Chancellor’s new levy to fight money laundering

The government is to introduce a levy on financial services firms to help pay for the fight against economic crime. Chancellor Rishi Sunak said that businesses subject to the money laundering regulations would be subject to the tax. This includes credit institutions, financial institutions, auditors, insolvency practitioners, external accountants and…

Record fine for Betway over AML failings

Online gambling business Betway is to pay £11.6m for a series of social responsibility and money laundering failings linked to dealings with seven of its high spending customers. The Gambling Commission (GC) said that in one instance the operator failed to carry out source of funds checks on a ‘VIP’…

Banks submit most SARs in UK, survey finds

Banks and building societies lead the way when it comes to submitting  Suspicious Activity Reports (SARs), new research has found. SmartSearch analysed the total number of SARs submitted over 12 months to find the industries that have seen the highest volumes. Overall, the number of SARs being submitted is increasing…

US accountant pleads guilty in Panama Papers investigation

A Massachusetts-based accountant who was charged along with three others in connection with a decades-long criminal scheme perpetrated by Mossack Fonseca, a Panamanian-based global law firm, has pleaded guilty to money laundering, aggravated identity theft, wire and tax fraud, and other charges. Richard Gaffey, 75, of Medfield, Massachusetts, pleaded guilty…

Money laundering trio escape jail time

Three men have pleaded guilty to money laundering offences after being caught with £100,000 is used banknotes. Kadr Hassan, 47, of Netherthorpe, Sheffield, was arrested outside a restaurant in the city in November 2017 carrying two bags containing £37,860 in bundles of £10 and £20 notes. He was arrested alongside…

Football ‘super agent’ in money laundering probe

Portuguese law enforcers this week carried out dozens of searches in connection with its investigation into tax evasion and money laundering at some of the country’s biggest clubs, as well as ’super agent’ Jorge Mendes. The latest stage of ‘Operation Offside’ involved almost 300 tax and police inspectors from the…

US President accused of money laundering in Scottish parliament

A Scottish Green party MSP has said there were “big questions” to be answered over Donald Trump’s business deals in the country. Patrick Harvie said unexplained wealth orders should be used to investigate how President Trump paid for his Scottish golf resorts. The allegations were fiercely rebuffed by Trump’s son…

Mr Green fined £3m for money laundering breaches

An online casino operator has been hit with £3m in fines and penalties following the Gambling Commission’s investigation into the sector. Mr Green is the ninth gambling business to face action as part of a regulator probe that has led to more than £20m in penalty packages since 2018. As…
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