News
printRelated News
Although the grandson of a former head of the Communist Party USA, Bill Browder isn't exactly beloved by Russian officials, even those professing nostalgia for the Soviet Union's supposedly golden days.
At its highest levels, Russian corruption over the past 20 years has been disguised by networks of shell companies and facilitated by foreign banks willing to turn a blind eye to state embezzlement, according to Karen Dawisha, a political science professor at Ohio-based Miami University.
Follow the headlines and you'll find an all too common story: the political winds shift, a leader is deposed and a fortune in dirty money is uncovered in a warren of offshore accounts. But why did no one stop the plundering sooner?
Diplomatic tension over Ukraine has raised doubts that the United States will attend an upcoming Moscow plenary of the world's largest anti-money laundering task force, say current and former officials.
Ukraine's widespread protests and weakened political stability are likely to prompt nervous investors and corrupt officials alike to move their money abroad, say economic analysts.
A Berlin-based advocacy group said Tuesday that Afghanistan, North Korea and Somalia remained the least trusted nations in the world for the second year in a row.
Resolving the growing tension between data privacy restrictions and anti-money laundering laws and overseeing the next round of mutual evaluations will define Russia's stewardship of a global anti-money laundering group, say analysts.
An intergovernmental group Tuesday criticized Austria, Spain and the Netherlands for failing to sufficiently investigate and convict individuals and corporations that bribe foreign officials.
A House panel Thursday advanced sanctions legislation that would blacklist individuals deemed responsible for the detention and death of a Moscow attorney who uncovered an alleged tax fraud scheme.
U.S. banks should consider increasing their scrutiny over transactions originating from Russia as widespread allegations of election fraud is expected to fan political instability and capital flight, say analysts.
Three intergovernmental groups are questioning the effectiveness of anti-money laundering controls meant to curb abuses of corrupt political figures who steal from their countries.
The Federal Reserve issues a cease-and-desist order against Royal Bank of Scotland for AML violations, the Federal Deposit Insurance Corp. hands out three AML-related enforcement actions, and more, in this week's roundup.
Despite public rhetoric about freezing the assets of corrupt dictators, less than three percent of the funds stolen by kleptocrats are ever returned to looted countries, according to Steffen Binder, co-founder of My Private Banking, a research and networking Web site for clients of private banks.
The United Kingdom's law enforcement arm said Wednesday that it would not pursue convictions under a new anti-bribery law against companies and individuals with a limited presence in the country.
More sensitive diplomatic communiqués leaked by Wikileaks.org, prosecutions against former UBS AG account holders for tax evasion continue, and more, in this week's roundup.
U.S. Justice Department investigations of foreign bribery will likely end up snaring financial institutions, according to the former head of the government's anti-corruption unit.
Russia's compliance with international anti-money laundering standards is likely to remain tenuous, according to Ethan S. Burger, a senior lecturer for the Faculty of Law and Centre for Transnational Crime Prevention at the University of Wollongong in Australia.
Up to 67 percent of the estimated $859 billion in illicit funds moved out of developing countries between 2002 and 2006 ended up in banks in developed nations, according to a report released Thursday.
The U.S. Justice Department continues to seized more than $3.2 million in nearly 400 accounts tied to narcotics dealers, Transparency International published its annual corruption report and more, in this weeks roundup.
Global corruption is antithetical to economic growth, according to Transparency International, an organization known for its yearly publication of the Corruption Perceptions Index, which ranks 180 countries by their levels of corruption.
