Posted Friday July 10, 2015

Weekly roundup

Weekly roundup: Investors wait for news on Iran sanctions, US criticised by IMF for lack of transparency progress, Berlusconi sentenced over bribery, and more

  • Investors are cautiously eyeing business opportunities in Iran as negotiations over the country’s nuclear programme near an end, raising the prospect of a less restrictive sanctions regime

  • A UK documentary by Channel 4 appeared to reveal that London estate agents failed to challenge attempts by posed Russian investors to launder money through property purchases,triggering an investigation by the industry’s professional body.

  • The IMF has issued a report criticising the slow pace of the United States in tackling use of shell and front companies for tax evasion and money laundering. Inability to identify beneficial owners was cited as a hindrance to the effectiveness of authorities to pursue criminals.

  • Former Italian Prime Minister Silvio Berlusconi has been sentenced to 3 years in prison over bribery payments of €3m made to try and secure this third term in office.

And finally, a long-running scandal around wide scale bribery linked to the Madhya Pradesh Professional Examination Board (Vyapam) is gaining renewed interest as a mounting number of individuals under investigation have died in mysterious circumstances. The issue is gaining political currency as Congress Vice President Rahul Gandhi called for the resignation of Madhya Pradesh chief minister Shivraj Singh Chouhan and criticised Prime Minister Narendra Modi for not speaking out on the issue.

Arachnys weekly update

New sources: 13

Source of the week:

Effective from today the US Department of the Treasury’s Consolidated Sanctions List replaces the independent Foreign Sanctions Evaders, Sectoral Sanctions Identifications and Non-SDN Palestinian Legislative Council lists. The independent lists are no longer maintained by OFAC.

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