Posted Friday November 6, 2015

Romania PM resigns amid anti-corruption protests, ABN Amro fined for AML shortcomings, New Zealand passes new anti-graft laws, and more

  • Romania's prime minister stepped down after people took to the streets against widespread corruption, which is blamed for the lack of safety standards that led to a deadly nightclub fire in Bucharest.

  • The Dubai Financial Services Authority and the Dutch Central Bank have fined ABN Amro for shortcomings in their anti-money laundering procedures.

  • A former head of the International Association of Athletics Federations (IAAF) faces an investigation over corruption and money-laundering charges. Lamine Diack is accused of having accepted $1 million in bribes to cover up positive doping tests of Russian athletes.  

  • New Zealand has adopted new anti-corruption laws to tackle organised crime, money laundering and bribery. The bill increases bribery and corruption penalties in the private sector and revises the foreign bribery offence.

And finally, the Tax Justice Network (TJN) has published its latest Financial Secrecy Index. The report, which analyses financial transparency in over 90 countries, finds signs of increasing transparency worldwide compared to its last survey two years ago. Switzerland, Hong Kong and the US rank highest for financial secrecy, but the United Kingdom would top the list if its overseas territories and crown dependencies were counted as one.

Arachnys update

New sources: 57

Source of the week: The Mexican Registration System for Providers of Financial Services (SIPRES) provides a database which can be searched by name of financial services officials.

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