Authorities in Italy and Spain have arrested 33 suspects in a coordinated action against a globally active money laundering criminal network according to the EU police agency, Europol. It says those arrested allegedly laundered drug profits generated in Europe, by… Read More ›
Russian customs data shows that countries most actively facilitating circumvention of wartime sanctions by Russia include China, Turkey, Cyprus and the UAE, according to analysis by the Free Russia Foundation (FRF). Western allies are responding by calling on jurisdictions to… Read More ›
Trade finance for transactions with Turkey could be restricted amidst mounting alarm in western capitals over Ankara’s deepening ties with Moscow forged last week when Turkish President Recep Tayyip Erdogan met his Russian counterpart, Vladimir Putin. The leaders agreed to… Read More ›
The US has reminded banks in the UAE and Turkey to be mindful of international efforts to combat Russian sanctions evasion amidst concerns in Washington that locations such as the Gulf and Turkey could harbour illicit cash linked to the… Read More ›
Turkey has not been included in a new European Union (EU) List of Third-country Jurisdictions which have Strategic Deficiencies in their Anti-Money Laundering / Counter Terrorist Financing (AML/CFT) Regimes. The list was revised earlier this month so that, with the… Read More ›
Concerns over trade-based financial crime contributed to the decision by the Financial Action Task Force (FATF) to add Turkey to its grey list of jurisdictions subject to increased monitoring for failing to adequately implement anti-money laundering and counter financing of… Read More ›
Halkbank, the large Turkish state-owned bank that has been accused in the US of substantial sanctions violations, has pleaded not guilty at a Manhattan court to criminal charges that it helped Iranian entities illicitly transfer tens of billions of dollars… Read More ›
Turkish customs officials are increasingly investigating ships trading in Turkey in response to concerns that some ships are misdeclaring the amount of fuel they are carrying to facilitate a smuggling scheme. Ships’ crews are suspected of selling fuel over and… Read More ›