Oil theft is fuelling terrorist groups and drug cartels around the world, according to a new analysis.
Mexican drug gangs can earn $90,000 (£72,000) in seven minutes from tapping a pipeline of refined oil, while insurgents in Nigeria financially benefit from a share of the third of the country’s refined oil exports that is lost to theft, said the Atlantic Council.
The Washington DC-based thinktank, which mapped the scale of crime in the oil refining and processing end of the sector, said the issue had largely been ignored by authorities and law enforcement agencies so far. Read More ...
Britain is struggling to stop vast amounts of potentially criminal money entering the country because investigators are being hampered by the Russian authorities, the head of the National Crime Agency money laundering unit has said.
In an interview with the Guardian, David Little said: “The amount of Russian money coming into the UK is a concern. “One, because of the volume. Two, we don’t know where it is coming from. We don’t have enough cooperation [from the Russian side] to establish that. They won’t tell us whether it comes from the proceeds of crime.”
Labour has been granted an urgent question in the Commons on the subject. The shadow chancellor, John McDonnell, raised the issue at 12.30pm on Tuesday in a debate, with a government minister responding. Read More ...
Britain’s high street banks processed nearly $740m from a vast money-laundering operation run by Russian criminals with links to the Russian government and the KGB, the Guardian can reveal.
HSBC, the Royal Bank of Scotland, Lloyds, Barclays and Coutts are among 17 banks based in the UK, or with branches here, that are facing questions over what they knew about the international scheme and why they did not turn away suspicious money transfers.
Documents seen by the Guardian show that at least $20bn appears to have been moved out of Russia during a four-year period between 2010 and 2014. The true figure could be $80bn, detectives believe. Read More ...
A stunning array of beautiful Rolex, Cartier and Breitling watches seized from criminals have been auctioned off for a fraction of their value
Ten of the top lots auctioned off - including a Rolex Perpetual Yacht-Master II worth £13,700 new that sold for £8,640 - cost buyers a total of £33,480.
Other watches sold off by West Midlands Police include the Omega Seamaster Professional Planet Ocean, which is worth £4,160 but sold for nearly £2,000.
Meanwhile the Breitling Super Ocean Automatic which is worth £4,000 went for £1,872 and the £6,600 Rolex Submariner Date attracted a price of £4,320. Read More ...
Notorious crime lord Terry Adams claims his actress wife funds his 'luxurious lifestyle' as he attempts to avoid paying back £700,000 in ill-gotten gains
Crime boss Terry Adams is trying to avoid paying back £700,000 of cash obtained through money laundering - claiming his 'luxurious lifestyle' is funded by his actress wife.
Terry Adams, 62, was ordered to hand over £750,000 after he was jailed for money laundering in 2007 following a huge probe by police and security services.
Since being released, Adams who is from one of Britain's most notorious crime families, has repaid around £360,000 from the sale of his £1.5million home in Mill Hill, North London, and from antiques and jewellery recovered by police. Read More...
On 2 March, Royal Australian Navy ship HMAS Arunta has seized 800 kg of hashish hidden in a consignment of coffee. Under the authority of Canadian-led and Australian supported Combined Task Force 150 (CTF-150), HMAS Arunta seized the drugs in the Arabian Sea in what was the ship’s first successful intercept since starting counter terrorism operations in December 2016. Commander Cameron Steil, Commanding Officer HMAS Arunta described the lead-up to the dhow being intercepted: “There were numerous suspicious elements regarding this vessel and subsequently we conducted a thorough search. Narcotic smuggling is well known in this area with the smugglers always trying to find new ways to hide cargo but our boarding parties’ training, techniques and equipment are of the highest standard.” Read More ...
British zoos step up security after poachers kill captive rhino in France and cut off its horn with a chainsaw
The four-year-old rhino was found dead in Thoiry zoo, west of the French capital
Whipsnade Zoo have taken extra security measures to protect its rhino herd
Thoiry rhino was killed on Monday night and keepers found body next morning
The animal had been shot three times before it was mutilated with a chainsaw
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- Bag containing £943,000 was found on the back seat of taxi in east London
- Suitcase containing £500,000 in £10 and £20 notes also found in back of a car
- £73million in cash and assets including a Ferrari 612 and Class A drugs seized
- Scotland Yard says it is largest amount of money taken off streets since 2003
A sports holdall crammed with almost £1million in cash was seized by police as it was moved across London by black cab, Scotland Yard revealed today. The bag containing £943,000 was found on the back seat of the taxi when it was pulled over by police in east London last year. Another suitcase containing £500,000 in £10 and £20 notes was found in the back of a car in a separate incident. Read More ...
On 24 January 2017, the Belgian Customs seized 170 kilos of cocaine inside a container coming from the port of Callao (Peru) and destined to the port of Antwerp (Belgium). A total of 150 cocaine bricks were hidden in rucksacks inside a container transporting frozen vegetables as a legal load. The Spanish National Police in Alicante (UDYCO) is conducting an investigation on a criminal group involved in cocaine trafficking from South America to Europe. In the framework of this investigation, Spanish authorities obtained intelligence suggesting the arrival of a cocaine container shipment to Antwerp. This information was facilitated to the Belgian authorities through Europol facilitating the exchange of information between both countries. Read More...
The continued threat posed by criminal networks makes it more important than ever for professional services firms to play their part in preventing money laundering.
Serious and organised crime costs the UK £24bn annually, and threatens the safety of the British public. Accountants form a crucial part of the front line when it comes to spotting suspicious financial activity and other markers that may lead to the conviction of criminal gangs. Security Minister Ben Wallace has called for a “joined-up and relentless response to money laundering”, urging the accountancy profession to play its part. “Working with industry to help professionals spot the warning signs of suspicious activity will make things even harder for those seeking to evade the law,” he said. Read More ...
Law firms connect all sorts of operations to their financial or business partners. Unfortunately, they also provide one of the vital junctions where crooks aim to disguise themselves to infiltrate the above-board economy. Serious and organised crime, which costs the UK economy an estimated £24bn annually, also has a human cost, as money laundering is an adjunct to terrorism, people-smuggling, drug dealing and other criminal activity. By thwarting money laundering, criminals are denied access to the fruits of their crimes. That is why the spotlight is now increasingly on the role of lawyers who may be at risk of being deceived into facilitating money laundering. As the Solicitors Regulation Authority has warned: “Law firms are one of the key targets for those wishing to launder money.” Read More ...