Posted Friday April 24, 2015

Weekly roundup

Weekly roundup: China to render Variable Interest Entities illegal, FCA collects £240mn in fines, untraditional hires in compliance and more

And finally, casinos are continuing to be in the spotlight of regulators and prosecutors around the world. The corporation behind the Caesar’s Palace in Las Vegas is rumored to be near a settlement in an anti-money laundering probe. The US Treasury’s investigation has been underway for roughly two years. As part of Chinese president Xi Jinping’s crackdown on corruption, casinos in Macau are under increased scrutiny. The Chinese gambling paradise has a reputation as a welcome outlet for corrupt officials and wealthy Chinese to launder their money.

Arachnys weekly update

New sources: 58

Source of the week: The Chinese Central Commission for Discipline Inspection has earlier this week published a list of 100 economic fugitives who are believed to have fled overseas. The list contains ID numbers, positions held and suspected current location.

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