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    Research exposes industrial-scale abuse of UK LLPs for financial crime

    by admin October 10, 2022

    More than one in ten of all Limited Liability Partnerships (LLPs) ever incorporated in Britain bear the hallmarks of shell companies used for serious financial crimes, according to a new report published today by Transparency International UK (TI). The independent anti-corruption organisation now wants to…

    news, Trade Based Financial crimes News

    Increasing use of third parties in money laundering schemes, including TBML

    by admin August 22, 2022

    An interview with anti-corruption expert José Hernandez published this month by the Chartered Professional Accountants (CPA) of Canada provides a comprehensive overview of the global factors making it ever more difficult to “follow the money” in cases of corruption or money laundering. Hernandez looks at…

    news, Trade Based Financial crimes News

    New report published on Zimbabwe’s illicit gold trade

    by admin June 16, 2021

    A report on a preliminary investigation of Zimbabwe’s illicit gold trade between 2017-19 has been published by Southern Africa Resource Watch (SARW). Based in South Africa, SARW describes itself as an independent body that advocates and promotes human rights and environmental protection in resource extraction…

    news, Trade Based Financial crimes News

    All G20 resources on anti-corruption published on new web site, ACWG – FATF contemplates money laundering and beneficial ownership

    by admin April 12, 2021

    A dedicated website has been launched collecting all the resources adopted by the G20 on anti-corruption over the years to make them more accessible. The website was launched at the first meeting of the Anti-Corruption Working Group (ACWG) which also promoted a joint G20 ACWG-Financial…

    news, Trade Based Financial crimes News

    Coronavirus funding threatens Nigeria’s efforts to tackle IFFs

    by Mark Ford January 15, 2021

    Funding to tackle illicit financial flows (IFFs) out of Nigeria is under threat as a result of cuts made in the country’s 2021 budget. Despite announcing a record naira 13.5 billion naira (N13.5 billion – US$35.5 billion) budget to tackle the negative impacts of the…

    news, Trade Based Financial crimes News

    Kenya broadcasts IFF-focused radio programmes

    by Mark Ford December 29, 2020

    Transparency International Kenya (TI-K), Global Financial Integrity (GFI) and Haki Yetu, a Kenyan NGO focused on human rights have broadcast three radio shows discussing the impact illicit financial flows (IFFs) have had on Kwale County in southern Kenya. The county has witnessed consistent opposition to…

    news, Trade Based Financial crimes News

    Nigeria initiates inter-agency probe to tackle IFFs and revenue losses

    by Mark Ford August 21, 2020

    Nigeria’s senate has initiated an inter-agency investigation into illicit financial flows (IFFs) and is contemplating the creation of a tax amnesty for the voluntary repatriation of funds to Nigeria. The bulk of IFFs are initiated by multinational corporations that neglect, fail and refuse to pay…

    news, Trade Based Financial crimes News

    Papers published ahead of IFF-focused FACTI’s virtual consultation

    by Mark Ford July 29, 2020

    The new High Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (FACTI) has held a virtual consultation with UN member states. The UN-established FACTI panel includes leading experts with a mandate to recommend institutional reforms that could help curb illicit financial…

    news, Trade Based Financial crimes News

    Lack of coordination amongst Namibian agencies charged with curbing IFFs

    by Mark Ford June 1, 2020

    Lack of coordination and inaction by key financial and law enforcement agencies is hampering Namibia’s efforts to curb illicit financial flows (IFFs) according to an article published in The Namibian newspaper. It says that there are now calls for a centralised government unit to monitor…

    news, Trade Based Financial crimes News

    Zimbabwean press calls for action on corporate IFFs

    by Mark Ford September 9, 2019

    One of Zimbabwe’s most read newspapers is highlighting the need for policymakers and enforcement agencies to focus on corporate illicit financial flows (IFFs) in their anti-corruption drive. The Zimbabwe Herald has welcomed President Emmerson Mnangagwa’s tough stance on corruption, but is making the point that…

    news, Trade Based Financial crimes News
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    US treasury secretary announces international commitment to enhance beneficial ownership transparency
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    FinCEN publishes first guidance on beneficial ownership reporting requirements for businesses
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    UBS, Credit Suisse and US bankers under scrutiny for possible breaches of Russian sanctions
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    Latest Articles

    • US treasury secretary announces international commitment to enhance beneficial ownership transparency
    • FinCEN publishes first guidance on beneficial ownership reporting requirements for businesses
    • UBS, Credit Suisse and US bankers under scrutiny for possible breaches of Russian sanctions
    • ABA calls on FinCEN to make changes to proposed beneficial ownership rule
    • Washington continues blitz on third-country entities linked to sanctions evasion

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