Editor FATF, money laundering, South Africa, Terrorism

Greyed-Out by FATF: Consequences and opportunities of potential grey-listing

Is the Republic of South Africa on the watchdog's grey-list chopping block? By Jemma Muller and Tyla Lee Coertzen The risk of South Africa being placed on the Financial Action Task Force’s (“FATF”) so-called “grey list” has been the subject of much debate and speculation, as well as a focal point for South African law … Continue reading Greyed-Out by FATF: Consequences and opportunities of potential grey-listing

Editor Banking & Accounts, money laundering, Nigeria, politics, public sector corruption

Financial corruption scandal engulfs Nigeria’s top justice amid political turmoil

Code of Conduct Tribunal convicts Justice Walter Onnoghen The Tribunal convicted Mr. Onnoghen of false asset declarations in foreign bank holdings.  The judge must now forfeit multiple foreign bank accounts and their (unidentified) contents to the Nigerian federal government.  He is further barred from holding public office for ten years. Observers question the motivation behind … Continue reading Financial corruption scandal engulfs Nigeria’s top justice amid political turmoil

Editor cooperation / coordination, culture of compliance, double standard, ECONafrica, event / seminar / conference, money laundering, quote of the day, UK, West Africa

Slow Crawl On Corruption

A long walk to freedom need not mean a slow crawl on combating corrupt government BY PETER O’BRIEN* The recent (May 12) London Summit on Anti-Corruption resulted in another small step in the right direction. About 40 countries were represented, along with a number of international sports associations and similar bodies that have come under … Continue reading Slow Crawl On Corruption

Editor Minister, money laundering, Nigeria, politics

Money laundering, $2bn phantom contracts, and Boko Haram

Nigeria moves on its anti-corruption promises: Former Defence Minister charged Reuters and BBC have reported that former Nigerian Defence Minister, Bello Haliru Mohammed -- a veterinarian by training who served in several ministerial positions, most recently under former President Goodluck Jonathan -- has been charged with money laundering and related corruption counts. He is no stranger to … Continue reading Money laundering, $2bn phantom contracts, and Boko Haram

Editor money laundering, South Africa

On trial: Laundering gold-smuggling cash

S. African Free State: Gold smuggling and money laundering case closes The State has closed its case in the Free State High Court in a matter relating to 133 charges of racketeering, gold smuggling, the unlawful processing of gold and money-laundering of nearly approximately R10 billion. The State lead its case for nearly 100 court … Continue reading On trial: Laundering gold-smuggling cash