Kleptocracy Daily – July 12, 2016


HSBC escaped U.S. money laundering charges after the UK government warned of dire economic consequences.

A senior U.S. Treasury official has called for Congress pass a two-page law against secret beneficial ownership of shell companies. Increased scrutiny of all-cash transactions has helped slow NYC’s luxury real estate market.

Spanish authorities have arrested 11 Russian and Ukrainian individuals for money laundering. A Russian money laundering ring has been convicted in the UK.

Former Maidan leaders have launched a new political party in Ukraine. A new poll highlights the Ukrainian people’s frustration with systemic corruption.

The former chairman of China Telecom is to be prosecuted for graft. The Bank of East Asia’s anti-money laundering controls are under scrutiny over 70 million yuan in suspicious transactions. Johnson Controls has settled an FCPA probe into its conduct in China for $14 million.

China censors have removed online references to a rare beetle named after President Xi Jinping, in honor of his anti-corruption campaign.