In the early 2010s, Petro Poroshenko — a billionaire who had just served a stint as Ukraine’s foreign minister, and would later be elected president — built a palatial estate for himself outside Kyiv. He just needed furnishings to match his new home’s grandeur.
Laundering dirty money through luxury purchases made in cash has become a tad harder since cash transactions of €10,000 and higher were made illegal last March.
The cash restriction was introduced as part of wide-ranging reforms to combat money laundering.
You’ve probably spent the past few months reading about the rise of NFTs with one eyebrow raised. Want to own a digital racehorse to run in an online race on Zed Run, a racing platform? You buy an NFT. Buying a digital artwork? Again, that’ll be an NFT. Non-fungible tokens, as they are technically termed, have become big business for investors and artists of all stripes. At the cutting edge of tech, they are being embraced by early adopters keen to make millions — and ignored by the rest of us.
Aspiring entrepreneurs know that an impressive office address can be a powerful asset.
Customers assume that if a business can afford to be based in an affluent area, it must be successful. But a Money Mail investigation today shows why you should think twice before trusting a grand-sounding location.
DNB ASA on Monday confirmed that Norway’s financial supervisory authority, Finanstilsynet, will impose a fine of 400 million Norwegian kroner ($48.1 million) for inadequate compliance with anti-money-laundering rules and legislation.
At 5am on a chilly Tuesday morning last month, 1,600 police officers and balaclava-wearing special forces, bristling with arms and battering rams, were ordered into action around the Belgian port city of Antwerp.
Britain’s financial firms and regulators should step up the use of technology to cut the cost of compliance and make the City of London more globally competitive, a report said on Friday.
Trying to combat its reputation as a money-laundering haven, Cyprus has launched a new registry that requires companies to reveal their true beneficiaries – a measure the country said it has adopted to improve transparency and comply with European Union regulations.
President Joe Biden ordered fresh sanctions on Russia, including restrictions on buying new sovereign debt, in response to allegations that Moscow was behind a hack on SolarWinds Corp. and interfered with last year’s U.S. election.
The European Union will seek to increase police cooperation, target human trafficking and establish new rules to counter money laundering, according to plans detailed by the European Commission on Wednesday.