Singapore to Toughen Money Laundering, Terrorist Financing Laws

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Oct. 27 (Bloomberg) — Singapore, where assets under management have risen fivefold to $1.2 trillion since 2001, said it will consider a “tougher penalty regime” and boost enforcement against money laundering and terrorist financing. The city-state will also make laundering of proceeds from tax offences a crime, and tighten laws on tax evasion, said Ravi Menon, managing director of Monetary …

Consultant Guilty of Grand Larceny and Money Laundering

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JOHN ELIGON, JAMES BARRON and ANDY NEWMAN Michael Appleton for The New York TimesJohn F. Haggerty Jr. outside the Manhattan Criminal Courthouse on Thursday. Updated, 12:40 p.m. | John F. Haggerty Jr., a Republican political consultant accused of stealing $1.1 million from Mayor Michael R. Bloomberg during Mr. Bloomberg’s 2009 re-election campaign, was found guilty of second-degree grand larceny and second-degree money laundering by a …

Welfare “Wage” is €28,000

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Documents to be released this week show there is no incentive for unemployed parents to take a job paying €28,000 a year, thanks to the high level of welfare benefits. The Department of Social Protection has found that a family on this wage earn just €89 a week more than if they were on social welfare benefits. Responding to concerns …

Irish firms named in anti money laundering case

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BARRY O’HALLORAN TWO IRISH subsidiaries of online poker group Full Tilt are named as defendants in a case being taken by the US department of justice claiming that the company used player funds to pay $440 million to owners and board members. Earlier this week US attorney Preet Bharara filed a complaint with a New York court claiming that Full …

PEP Example- Africans sent ‘suitcases of cash’ to French politicians, lawyer says

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Paris (CNN) — Former French president Jacques Chirac and presidential hopeful Dominique de Villepin received “suitcases of cash” from African leaders to fund their electoral campaigns, a former political aide alleged over the weekend. Robert Bourgi, a French-Lebanese lawyer and now a political aide to President Nicolas Sarkozy, told CNN on Monday that Chirac and Villepin received an estimated $20 …

Cash Handling Assessment

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Please enter your full name * Which Leisure Centre do you work in * Please select…GlenalbynLoughlinstownMeadowbrookMonkstown The institute of certified fraud examiners estimates that fraud costs american small businesses how much per year? * Please select…$1,000$10,000$100,000 Why is it important to have your cash count double checked and signed by another employee * Which of the following are cash equivalents …

Topaz Top Management Fired, Jobs Cut as Renaissance Finds Financial Fraud

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Topaz Group, which in March pulled an initial share sale inLondon, had its top management removed and jobs cut after parent Renaissance Services SAOG (RNSS)uncovered financial fraud at the company. Renaissance shares plunged. Topaz Chief Executive Officer Fazel Fazelbhoy stepped down in May after oil and gas services provider Renaissance “uncovered some serious issues” at the unit, Renaissance said in …

A bird skin in the hand – Money Laundering

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A student who stole 299 rare bird skins from the Natural History Museum to fund his studies has been ordered to pay back £125,000 (€142,821). Edwin Rist, 22, from the US, was given a suspended jail sentence in April after admitting burglary at the museum in Tring, Hertfordshire, in June 2009. He also admitted money laundering and yesterday at St. …