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The Morning Risk Report: The $500 Million Central Bank Heist—and How It Was Foiled |
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Angolan prosecutors allege there was a plan to illegally siphon cash from the country’s central bank. PHOTO: ED CROPLEY/REUTERS
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Officials in Angola have charged four men in connection with an alleged plot to siphon off a big chunk of its central-bank reserves, The Wall Street Journal reports.
The charges stem from a $500 million transfer that authorities in Angola allege was part of a convoluted plot to defraud the southern African country in the final weeks of President José Eduardo dos Santos’s 38-year rule.
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If Angolan prosecutors are right, a teller at a suburban London branch of HSBC Holdings PLC helped thwart one of the biggest attempted bank heists ever.
Angola’s lawyers say the country may have fallen victim to a decades-old type of get-rich-quick scheme, typically used to defraud individuals or companies, not sovereign states.
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| From Risk & Compliance Journal |
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Court Upholds U.K.’s First Unexplained Wealth Order |
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The High Court of Justice in London dismissed a challenge to an order urging the wife of a former banker accused of fraud in a foreign country to disclose how she could afford $28.5 million in U.K. real estate.
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Senators Seek Probe of Money Laundering in Real-Estate
Market |
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Two Democratic U.S. senators want a congressional investigation into the risk of money laundering in the real-estate sector, saying limited protections in residential real estate can attract criminal organizations.
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U.S. to Allow Small Banks to Pool Anti-Money-Laundering
Resources |
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Community banks and credit unions can share certain resources for anti-money-laundering compliance purposes, helping them address the risk of financial crime while keeping down costs, federal regulators said Wednesday.
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Danske Bank Under Criminal Investigation by U.S. Justice Department |
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The U.S. Department of Justice has begun a criminal investigation into a massive money-laundering scandal at Danske Bank AS, Denmark’s largest bank said on Thursday, escalating a probe into how $233 billion from Russia and other former Soviet states entered Europe through a tiny branch in Estonia.
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U.S. Judge Orders China’s ZTE to Two More Years of
Monitoring |
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A U.S. judge ordered ZTE Corp. to another two years of scrutiny by a court-appointed monitor, following the Chinese telecom giant’s violation of a settlement resolving charges that it dodged U.S. sanctions on Iran and North Korea.
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Wife of Former Malaysian Leader Arrested in Connection With
1MDB |
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The wife of former Malaysian Prime Minister Najib Razak was arrested by antigraft authorities in connection with the multibillion-dollar financial scandal that brought down his government.
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U.N. Court Orders U.S. to Lift Iran Sanctions on Humanitarian
Goods |
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A United Nations court ordered the U.S. to suspend sanctions against Iran that impede trade in humanitarian goods and civil aviation, a ruling Tehran claimed as victory but that White House officials said they weren’t bound by.
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EU Lawmakers Vote for Stringent Emission Targets |
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The European Parliament has proposed stricter emission targets for the auto industry, putting down its marker in a growing fight inside the European Union over how much it can tighten carbon-dioxide limits for cars.
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Facebook Briefs Lawmakers on Breach to Guard Against Backlash |
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Facebook Inc. officials have begun briefing lawmakers about its massive security breach as the social-media company tries to quell a potential backlash in Washington over its latest setback involving user data.
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U.S. Gets Aggressive in Naming Foreign Hackers |
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The U.S. and the U.K. have become more willing to blame specific nations for major cyberattacks, signaling that longstanding concerns about the difficulty of dissecting hacks and the risk of being mistaken may be diminishing.
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EBay Accuses Amazon of Illegally Poaching Sellers |
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EBay Inc. is accusing Amazon.com Inc.’s sales reps of trying to poach sellers for its own marketplace through eBay’s messaging system. EBay sent a cease-and-desist letter to Amazon to stop the alleged recruiting practice.
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Activist Urges Papa John’s to Focus on Pizza |
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Legion Partners Asset Management LLC has talked with Papa John’s International Inc. about adding board members with restaurant experience, restoring the morale of franchisees and employees and cutting costs.
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Barnes & Noble Evaluates Possible Sale |
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Barnes & Noble Inc. is considering a sale after receiving interest from parties including its executive chairman—the latest twist for the embattled bookseller as its business reaches a critical juncture following years of decline.
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Automation Set to Deliver This Holiday Season |
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With the busy holiday peak looming, retailers and logistics companies are ramping up automation as surging demand for labor outstrips the number of available workers.
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