Brazil: Brazil’s President faces impeachment following Petrobas scandal

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After more than a year of protest against Petrobas scandal, Brazil’s president now faces impeachment.  Petrobas is Brazil’s largest state company with about 80,000 employees. Continued investigations are however shaken by the divided politics, with Workers Party expressing concerns that the investigations are turning political. Brazil is a typical case of how corruption investigations can difficult to resolve due to hardline political divisions. http://foreignpolicy.com/2016/05/12/the-fate-of-brazils-democracy-depends-on-a-man-youve-never-heard-of/

UK: New strategy to fight Money laundering in real estate

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Foreigners using London’s property market to purchase property will be forced to explain where they got their money from.  In the effort to save Britain’s reputation as money laundering haven, new state orders require any overseas politician or public servant who makes notably lavish purchases in the UK could be forced by police to explain the source of their income. http://www.telegraph.co.uk/news/2016/05/11/corrupt-foreigners-who-launder-money-through-luxury-london-homes/

UK: Panama papers not yet over

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The Anti-Corruption agency in the UK has begun to investigate the Panama papers case in order to find out whether there are cases in Britain linked to the incident. The investigations will focus on whether UK firms linked to the Panama firm-Mossack Fonseca broke any law. http://www.telegraph.co.uk/business/2016/04/26/city-watchdog-starts-search-for-british-links-to-panama-papers/

Global: Ireland listed on money laundering destination list

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The US Justice Department has included Ireland on the money laundering list. This follows  a case in which the US government is attempting to reclaim money connected to an illegal shipment of electronic equipment, worth $65m (just under €58m), which later made its way into the hands of the Russian military, in violation of US export laws. http://www.rte.ie/news/2016/0424/783940-us-department-of-justice-tax-evasion/

Israel: Police arrest a diamond dear in $65 million fraud case

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Israeli police are questioning a diamond dealer on suspicion of embezzlement as part of a fraud investigation that could involve sums of up to $65 million (£45m). The diamond exchange in Ramat Gan city, Isreal is one of the world’s largest, with around 1,000 firms. http://www.independent.co.uk/news/world/middle-east/israeli-police-arrest-diamond-dealer-in-connection-with-65m-fraud-inquiry-a6993776.html

   
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