Category: Money Laundering

FRANCE: Alcatel-Lucent Corruption Judgment upheld

The appeal of telecommunications equipment supplier Alcatel-Lucent was rejected by French Courts, finalizing the judgment of 150,000 euros in fines levied against the group for bribery of foreign public officials in Costa Rica in the early 2000s.

Morocco exits EU’s Grey List to land on FATF’s grey list

I didn’t know it was even possible for a country to exit one international grey list to enter another within the course of one week, but apparently it happens. If that wasn’t enough Morocco was also the subject of a “black report” on its… Continue Reading “Morocco exits EU’s Grey List to land on FATF’s grey list”

Bank of Baroda fined $1.8M by UAE Central Bank for AML failures

In an interesting move, the UAE Central Bank has imposed a sanction of AED 6,833,333.00 (amounting to $1,860,676 approx.) on Bank of Baroda, GCC Operations, Dubai for violating anti-money laundering laws.

USA: Nowhere Left to Hide for Owners of Shell Companies

Questionable owners of anonymous shell companies may face a much harder time hiding their dirty money in the U.S. in the future.

UAE AML: 9 jailed, fined millions over $83.37m money laundering case

And action! The Emirate of Abu Dhabi seems to be finally leading the way in the UAE with a renewed commitment to money laundering enforcement.