Kleptocracy Daily: February 28, 2017


MEPs voted today to amend the EU’s anti-money laundering directive so that citizens can now access beneficial ownership information in an attempt to plug gaps in money laundering and terrorism financing. (European Parliament News)

South Korean prosecutors charged Samsung’s detained boss with bribery, embezzlement and other offenses in connection with the country’s sprawling corruption scandal. (Financial Times)

The $51 million penthouse of NYC’s tallest residential building, owned by Nigerian oil tycoon Kola Aluko, is one of the assets that the EU and Nigeria are looking to freeze as part of a sweeping money laundering investigation. (Curbed)

FinCEN has fined the Merchants Bank of California $7 million for failing to implement required anti-money laundering regulations. (American Banker)

Switzerland’s Attorney General Michael Lauber spoke on the vulnerabilities that still exist in the Swiss financial sector. (SwissInfo)

Pakistan’s Finance Minister Ishaq Dar eyes upcoming elections, though his pending corruption case, including use of offshore companies and property investments in the UK, may disqualify him from participating. (Bloomberg)


A top U.S. business school looks at how corruption in Russia is still stifling foreign investment. (Wharton)