Sections

Services

Information

UK United Kingdom

Money laundering

Analysis and Comment (5)

Bookies, in simpler times. Bookies, in simpler times. James Guppy

Betting terminals targeted by high street money launderers

The third season of Breaking Bad, the American TV drama series about a crystal meth dealer in Albuquerque, contains a key scene about the business side of an emerging crime empire. Here, the unscrupulous…
The dark side of sunny Cyprus: money laundering and lax enforcement of tax law has made the country a hotspot for wealthy Russians. The dark side of sunny Cyprus: money laundering and lax enforcement of tax law has made the country a hotspot for wealthy Russians.

Cyprus avoids a bad haircut, but pays a price for shady finance

In a surprise move that shocked investors and commentators alike, the Republic of Cyprus announced plans last weekend to impose a levy on bank deposits. However, Cyprus’ prime minister, Nicos Anastasiades…
UK-listed bank Standard Chartered stands accused of violating US sanctions against Iran by hiding $237 billion in transactions with Iranian banks. UK-listed bank Standard Chartered stands accused of violating US sanctions against Iran by hiding $237 billion in transactions with Iranian banks. AAP

Standard Chartered’s laundering charges are another blow for the banking sector

The suit lodged against Standard Chartered in Manhattan by the New York State Department of Financial Services has served its first purpose: capturing the headlines and putting the banking industry once…
Banks behaving badly: ensuring banks' sustainability reports are accurate and credible will go some way in restoring public confidence. Banks behaving badly: ensuring banks' sustainability reports are accurate and credible will go some way in restoring public confidence. AAP

To be good corporate citizens, banks must improve their sustainability reporting

“Events over the past couple of years have raised profound questions about the ways in which banks and businesses contribute to society. For both to play their full part, they must restore trust and become…
HSBC chief executive officer Irene Dorner testifies before the US Senate about allegations of money laundering within HSBC. HSBC chief executive officer Irene Dorner testifies before the US Senate about allegations of money laundering within HSBC. AAP

HSBC’s money laundering scandal is more than just risky business practice

Recent news that HSBC executives admitted to allowing Iran, terrorists and drug dealers to launder nearly USD$16 billion over a six-year period would make earth underneath you shake. How is that the bank’s…