There’s still one major Ponzi scheme causing investors misery
The continuing ramifications of the Allen Stanford Ponzi scheme reminds us that in the battle against corruption, it’s time actions were matched to words.
The Serious Fraud Office can be its own worst enemy
The problem with the Serious Fraud Office is that it has constantly tried to over-hype itself and then under-delivered, argues our Senior Investigator, Tony McClements.
TORONTO STAR: Few tears should be shed for Bernie Madoff, king of the Ponzi schemes
One of Allen Stanford’s victims said that Stanford was worse than Bernie Madoff, who has just died, because Stanford targeted middle-class investors. “He stole more than millions,” the victim said, “he stole our lives as we knew them.”
IFC REVIEW: Has the terrible COVID-19 Pandemic Any Upsides?
With new vaccines finally coming online and the impact of extended lockdowns and better testing regimes, there is finally some light at the end of the tunnel after the terrible year that was 2020.
The Future Of Unexplained Wealth Orders
UWOs were intended to empower UK law enforcement agencies to attack the UK-based assets of high-net worth individuals with shady pasts who owned assets of questionable origin. They could also be used to target UK-held assets of politically exposed persons (PEPs) suspected of grand corruption in their home states.
In the UK, fraud runs rampant and victims are scorned
The fraud epidemic in the UK is now a national security threat, warns a venerable think tank.
HMRC deserves a pat on the back for handing out record AML fines
The UK’s tax authorities should be congratulated on levying large fines against businesses that have breached strict anti-money laundering regulations.
TORONTO STAR: This is one list of leaders you don’t want to top: Global fines for financial institutions
With no fewer than four of the five biggest fines levied against financial institutions in 2020 against U.S. financial institutions, the new administration needs to do much more than merely combat poor business and regulatory practices.
TORONTO STAR: Money laundering is hurting investment in Canada
It is time for the government to address an issue that is damaging the international reputation of Canada, says Martin Kenney for The Toronto Star.
TORONTO STAR: Putting an end to the ‘snow washing’ of illicit funds in Canada
Canada needs to up its game. It still lacks the rigorous checks and balances needed to protect society from con artists who would exploit its financial systems.