Cyprus

Globo says FCA probes company on financial irregularities

British mobile technology firm Globo Plc said UK's financial watchdog was investigating the company, just days after it said it was made aware of financial irregularities by its top management.Globo said on Wednesday that it had reported the matter to appropriate law enforcement agencies in the UK, Greece and Cyprus.

28/10/15

Corruption Problem:

Fraud

Sector:

Telecommunications

Read more about Globo says FCA probes company on financial irregularities

EU carbon market fraudsters face heavy jail sentences

Carbon market fraud reveals the vulnerability of the EU’s banking system. The speed of trading on the carbon market, coupled with lax enforcement in Cyprus and Lithuania, allowed French criminals to steal €283 million. EurActiv France reports.

27/05/16

Corruption Problem:

Fraud

Sector:

Banking and Finance

Read more about EU carbon market fraudsters face heavy jail sentences

Fraudster ordered to pay back almost ?5million of criminal profits

A specialist money launderer who attempted to "receive and wash" the proceeds of a German bank fraud has been ordered to pay back almost £5million.

17/01/16

Corruption Problem:

Fraud

Money Laundering

Sector:

Private Sector

Read more about Fraudster ordered to pay back almost ?5million of criminal profits

Fraudster ordered to pay back almost ?5million of criminal profits

A specialist money launderer who attempted to "receive and wash" the proceeds of a German bank fraud has been ordered to pay back almost £5million.

17/01/16

Corruption Problem:

Money Laundering

Fraud

Sector:

Private Sector

Read more about Fraudster ordered to pay back almost ?5million of criminal profits

Nordkorea auf Platz eins: Die EU-Liste der größten Geldwäscheländer

The European Commission wants to step up the fight against tax avoidance, terrorist financing and money laundering and has proposed legislative changes. The core element is a list of high-risk countries. No. 1: North Korea and notorious tax havens didn't even appear. The reason: The list is based on how the legal situation in a country looks - and less on how these laws are implemented.

06/07/16

Corruption Problem:

Sector:

Read more about Nordkorea auf Platz eins: Die EU-Liste der größten Geldwäscheländer

Finanzfirmen: Wie Zypern im Kampf gegen Geldwäsche scheitert

Despite stricter rules wealthy can apparently continue to hide millions of dollars in Cyprus.

31/05/16

Corruption Problem:

Money Laundering

Sector:

Banking and Finance

Read more about Finanzfirmen: Wie Zypern im Kampf gegen Geldwäsche scheitert

Bad move: Chess drawn into Panama Papers scandal as two companies linked to governing body are named

Two companies linked to Chess governing body linked to off shore companies in the Panama Leaks

10/05/16

Corruption Problem:

Facilitating Tax Evasion

Sector:

Private Sector

Read more about Bad move: Chess drawn into Panama Papers scandal as two companies linked to governing body are named

US Court Sentences Russian Nuclear Official in $2.1 Million Bribery Scheme

US court sentences Russian nuclear official for facilitating bribery between American companies and Russian nuclear officials

17/12/15

Corruption Problem:

Bribery

Sector:

Private Sector

Read more about US Court Sentences Russian Nuclear Official in $2.1 Million Bribery Scheme

Panama Papers

The Panama Papers is a global investigation into the sprawling, secretive industry of offshore that the world’s rich and powerful use to hide assets and skirt rules by setting up front companies in far-flung jurisdictions.

Based on a trove of more than 11 million leaked files, the investigation exposes a cast of characters who use offshore companies to facilitate bribery, arms deals, tax evasion, financial fraud and drug trafficking.

Corruption Problem:

Facilitating Tax Evasion