July 18: KI and the Partnership for Transparency’s Anti-Corruption Forum will host a discussion on U.S. government approaches to kleptocracy and money laundering, including investigations, prosecutions, compliance, and possible legislation. More information and registration here.
The latest on KI’s website: Belinda Li examines why more transparency is needed in the real estate sector.
- As congressional negotiators attempt to clear a key technical hurdle preventing a popular Russia and Iran sanctions bill from final passage, some lawmakers are expressing new concerns over the breadth of energy sanctions in the legislation.
- A consulting firm led by Paul Manafort, who chaired Trump’s presidential campaign for several months last year, retroactively filed forms showing that his firm received $17.1 million over two years from a political party that dominated Ukraine before its leader fled to Russia in 2014.
- U.S. lawmakers unveiled bipartisan legislation which would require companies to reveal their true, beneficial owners at the time of incorporation. The legislation has been proposed several times before, but has always stalled amid opposition from banks and states.
- Federal prosecutors won a court victory that paves the way for the government to seize a Midtown Manhattan office building they said was a front for the Iranian government and was involved in a money-laundering transaction that illegally provided money to Iran in violation of U.S. sanctions.
- A new research report from Transparency International-UK and Bellingcat, “Offshore in the UK”, provides new insights into how money launderers are abusing Scottish Limited Partnerships (SLPs) – the UK’s own home-grown secrecy vehicle – to move billions of pounds of corrupt wealth around the world.
- French authorities charged the daughter and son-in-law of Congo’s President with “money laundering and misuse of public funds,” as part of a larger investigation into the assets of three African presidential families.
- Malta is among a number of EU countries that missed a June 26 deadline to implement stricter anti-money laundering rules.
- Deutsche Bank was not the only international lender found to have conducted “mirror trades” to circumvent regulations and send money out of Russia in the last few years, the Bank of Russia said, declining to name other institutions involved.
- The Russian parliament is considering new legislation which could see tens of foreign Russian-language media outlets banned from operating within the country–foreign outlets broadcasting in Russian, even if they were registered abroad, which fail to register as foreign agents would then face closure.