Tag: anti-money laundering
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Namibia Breaks into Africa’s Top Five for Combating Money Laundering
Namibia’s Rising Standing in the Fight Against Money Laundering Namibia has secured a place among Africa’s top five countries in managing money laundering and financial crime risk exposures. The landmark placement highlights the country’s ongoing strengthening of its anti-money laundering (AML) framework and its commitment to safeguarding the financial system from illicit activity. What the…
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Pakistan’s Money Laundering Risk: IMF Flags Corruption and Weak Accountability
IMF Warning: Corruption-Related Money Laundering on the Rise in Pakistan The International Monetary Fund (IMF) has raised red flags over Pakistan’s vulnerability to corruption-related money laundering. In its assessments, the IMF notes that the country’s systemic weaknesses in governance, together with regulatory gaps, create fertile ground for illicit financial flows. The warning comes as Pakistan…
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ED Orders Forensic Audit Into Al Falah University Amid Suspected Terror Funding Claims
Overview: ED Moves Into Al Falah University’s Finances The Enforcement Directorate (ED) has announced a forensic audit of Al Falah University’s financial records in connection with alleged links to terror funding. The move follows reports tying the university to financial streams under scrutiny in relation to the Delhi blast incident on November 10. Authorities say…
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Luxury Watches, Jewellery and a Net of Fraud: Inside a NAB Allegation
The Case at a Glance A high-profile case has put the spotlight on luxury watches and jewellery linked to alleged fraud within Australia’s banking sector. Reports indicate an Australian National Australia Bank (NAB) employee is among those arrested and charged in connection with what investigators describe as one of the country’s largest fraud and money-laundering…
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FIC Clears Richard Nii Armah-Quaye After Probe, Unfreezes His Accounts
Overview: FIC Finds no wrongdoing The Financial Intelligence Centre (FIC) of Ghana has concluded its investigations into the financial activities of Richard Nii Armah-Quaye, a prominent Ghanaian businessman. In a development that has been welcomed by his supporters and the business community alike, the FIC has cleared him of any wrongdoing and moved to unfroze…
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Singapore’s Role in Cambodian Pig-Buting Scam Ring Under Scrutiny: Chen Zhi’s Transnational Network
Overview: A Singapore Connection in a Global Scam Ring Singapore has found itself at the center of a multinational money‑laundering investigation that links a Cambodian criminal network to high-profile financial players in Southeast Asia. U.S. prosecutors have charged Chen Zhi, the chairman of the Prince Holding Group, with running a vast criminal operation that used…