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At the time, HSBC was subject to a deferred prosecution agreement for the laundering of $881 million on behalf of the Sinaloa and Norte del Valle cartels. [2] The files also describe how Barclays Bank laundered money on behalf of Arkady Rotenberg , a close associate of Vladimir Putin , who is under sanctions for his involvement in the Russo ...
The Philippines is hopeful of being taken off the money laundering 'grey list' of the Financial Action Task Force (FATF) of this year, the country's Anti-Money Laundering Council said on Tuesday.
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, underground sex work, terrorism, corruption, embezzlement, and treason, and converting the funds into a seemingly legitimate source, usually through a front organization.
For instance, investing in gold is a great alternative because unlike the U.S. dollar, which has lost 98% of its purchasing power since 1971, gold’s purchasing power remains more stable over time.
In 1917, the warlord in control of Manchuria, Zhang Zuolin, introduced a new currency, known as the Fengtien yuan or dollar, for use in the Three Eastern Provinces. It was valued at 1.2 yuan in the earlier (and still circulating) "small money" banknotes and was initially set equal to the Japanese yen. It maintained its value (at times being ...
Philippine President Rodrigo Duterte signed a law on Friday to strengthen anti-money laundering and terrorist financing regulations ahead of a Feb. 1 deadline set by a global financial watchdog.
A suspected theft occurred at Terminal 1 of Ninoy Aquino International Airport (a major port of entry serving Metro Manila) at 8:18 p.m. on September 8, 2023. [1] The alleged victim was a male Chinese national who was about to board the plane, [2] but reportedly lost US$300 (₱17,033).
The Philippines' National Bureau of Investigation (NBI) launched a probe and looked into a Chinese-Filipino who allegedly played a key role in the money laundering of the illicit funds. The NBI is coordinating with relevant government agencies including the country's Anti-Money Laundering Council (AMLC).