• petromidia

    Attack on Rompetrol and foreign capital

    Romania’s major energy company Rompetrol was on the verge of sale to a Chinese company when the country’s investigative agency, the Directorate for the Investigation of Organised Crime and Terrorism (DIICOT), announced it was investigating a thirteen year old transaction. ...

Photo courtesy of Global Witness

NGOs put Kimberley Process at Risk

If warring between NGOs and the UAE chair of the Kimberley Process continues, the entire initiative against blood diamonds is threatened. The Kimberley Process (KP) – the international agreement designed to certify all diamonds, thereby exposing illegally-traded “blood diamonds” that might fund civil wars – was forged out of conflict, and appears as though it […]

Continue Reading
HBOS

UK regulators pronounce on HBOS

Seven years since HBOS crashed and burned, we are about to find out why, from a report to be jointly published on Thursday morning by the UK’s Financial Conduct Authority and Prudential Regulation Authority (part of the Bank of England). The Edinburgh based bank, with assets of some £667 billion, was formed from the September […]

Continue Reading
terrorfinance

Banks not up to the task of spotting terrorist financing, despite G20

The decision of the G20 to propel the Paris-based Financial Action Task Force into action on terrorist funding has two problems. First, global banks’ have failed to train staff and their systems in the latest financing techniques. Second, terrorists use cash-based money transfer systems to move money and not conventional banks. The evidence for the […]

Continue Reading
hawala

Does hawala offer clues to the Paris attacks?

Financial transactions will be a key part of the investigation of the team of eight Islamic State operatives that brought mayhem to Paris. Where will the investigators look, and what may they find? Where did they get their money? One key source of funding for the group is likely to be cash brought back to […]

Continue Reading
Awaiting bids: one of the "Carwash" assets up for auction

Petrobras scandal’s key witness speaks out

The former oil industry executive whose evidence kicked off the corruption probe into Brazilian energy giant Petrobras – a scandal which has tipped Brazil into recession and may yet bring down its government – has spoken out for the first time since entering a plea-bargain agreement 18 months ago. Paulo Roberto Costa, former head of refining and supply […]

Continue Reading