Corruption Currents: Islamic State Turns Fishmonger for Funds
A daily roundup of corruption news from across the Web. We also provide a daily roundup of important risk & compliance stories via our daily newsletter, The Morning Risk Report, which readers can sign up for here. Follow us on Twitter at @WSJRisk.
Bribery:
An Australian inquiry will look at a construction project after testimony from a former executive alleged bribery. (Sydney Morning Herald)
Four former U.S. army officers were acquitted of bribery charges. (Washington Times)
In local politics: Lawyers for a convicted New York State lawmaker say their client was only 12% corrupt. An arrested Cambodian official’s family said a payment was charity, not a bribe. (NY Daily News, Phnom Penh Post)
Money Laundering:
India asked the U.K. to deport Vijay Mallya, a business tycoon under investigationfor tax evasion and money laundering. Mr. Mallya broke his silence on the allegations. (BBC, NY Times) Financial Times)
The Philippines anti-money laundering officials filed a criminal case against executivesat a remittance firm over the hacking heist. The central bank said de-risking put pressure on remittance firms. Manila assured Bangladesh that its money, laundered in the hacking heist, is on its way. A banker warned against piecemeal reform. (Reuters, Inquirer, Standard, Inquirer)
Nigeria asked the World Bank for help with recovering money laundered by Sani Abacha. (Bloomberg)
Scotland Yard submitted a money-laundering case to U.K. prosecutors involving a Pakistani political party. Pakistan is unhappy with the pace. (The News, The News)
Sinaloa pressure: An associate to El Chapo pleaded guilty in Chicago to money laundering. Another was charged with drug drafficking. (ABC7, Chicago Tribune , NY Daily News)
The U.S. removed a Pakistani man it said was laundering proceeds of terrorism. (press release)
Qatar is setting up an anti-money laundering center. (Peninsula)
A warrant was issued against a former Indian minister as part of a money-launderingcase. (Times of India, Indian Express)
Sanctions:
Russia wants the U.N. to blacklist Syrian rebels. (Al Jazeera)
Iran’s supreme leader said the U.S. is using “Iranphobia” to block foreign investment and banking. Washington denies this. Banks are working on a solution. (Al Monitor, Al Monitor, European Sanctions, SKY)
Washington says Europe extended its sanctions on Russia. (EUObserver)
Terrorism Finance:
Islamic State earns millions per month running car dealerships and fish farms in Iraq, making up for lower oil income after its battlefield losses, officials say. (Reuters)
Transparency:
Panama Papers: France’s finance minister demanded transparency from his Panamanian counterpart. Macedonia’s president denied his family’s involvement in the leak. Indonesia is hiring an intelligence agency. Hong Kong sidestepped calls for action. A Jersey official denied the bailiwick is a tax haven. (Reuters, OCCRP, Tempo, SCMP, City AM)
Russian property records vanished. (RFE/RL)
General Anti-Corruption:
Chinese anti-graft authorities found irregularities at the country’s second-largest bank. (Reuters)
A legal dispute between Libya and Goldman Sachs continues. (Financial Times)
Wimbledon says it’s beefing up measures against corruption. (Reuters)
Corruption scandals are engulfing Latin American countries. (Washington Post)
Match-fixing has come to videogames. (Kotaku)
Source: http://blogs.wsj.com/riskandcompliance/2016/04/29/corruption-currents-islamic-state-turns-fishmonger-for-funds/
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