laundering

The Recent Update to the EU Financial Blacklist: Implications for Africa The European Union (EU) has recently revised its financial blacklist, introducing five African nations—Algeria, Angola, Côte d’Ivoire, Kenya, and Namibia—into a category that raises serious concerns about deficiencies in their anti-money laundering and counter-terrorism financing systems. This update signifies that these countries are now classified as high-risk jurisdictions. As a result, EU financial institutions must exercise enhanced due…

Gerard Hutch, commonly referred to as 'the Monk', has been taken into custody amid accusations related to money laundering activities. The 61-year-old was among nine individuals presented to a magistrate by Spanish law enforcement in Lanzarote. While two individuals were denied bail and detained, the remaining seven were granted bail, albeit with conditions. In this group were individuals connected to Hutch, including a close family member and various legal and business associates. According to a statement from Spanish…

This evening, in a Spanish courtroom, Gerard Hutch, infamously dubbed 'the Monk,' found himself embroiled in serious legal troubles connected to suspected money laundering activities. At a bustling judicial facility in Lanzarote, the 61-year-old Hutch was one of nine individuals summoned before a judge by Spanish law enforcement officials. Among this group, two individuals have been denied bail and will remain behind bars, while the remaining seven have been granted provisional release under stringent conditions.…

  Somali and Turkish officials have inked a bilateral pact to bolster cooperation in the realm of financial intelligence. Captured at the signing event in Ankara, we have Amina Mohamed Ali, at the helm of Somalia’s Financial Reporting Center (center), alongside Hassan Keymak, who steers Turkey’s Financial Intelligence Unit (MASAK) (right).  Mogadishu (AX) — Somalia and Turkey have cemented an accord to elevate collaboration on financial intelligence sharing. This landmark agreement, signed in Ankara, unites Somalia's…

The arrest and detention of money laundering by former presidential candidate Nabil Karoui provoked strong reactions within his party, in the heart of Tunisia, which has 30 seats in Montage. Its deputies held a press conference in parliament on Friday 25 December. An 870-page expertise pointing out certain false mechanisms and…