money laundering Archives - Page 5 of 9

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Algorithms and artificial intelligence as an anti-corruption tool

23 Mar 2021, 15:10

By Janine Erasmus Fifty years ago the concept might have been taken from a science fiction plot. Now it’s one of the new technologies that become more sophisticated as time passes. Using artificial intelligence (AI) and algorithms to track down suspicious activity is a reality – but can we trust them to reveal illicit financial Read more >

CORRUPTION NEWS

Mauritius and others under scrutiny for money-laundering

20 Aug 2020, 17:05

Mauritius, that lazy, friendly little island in the Indian Ocean, beloved of holidaymakers and honeymooners, has a dark side. It is also a favourite haunt of money launderers and tax evaders and in fact, is known as one of the world’s top corporate tax havens. In July 2019, the International Consortium of Investigative Journalists’ (ICIJ) Read more >

OPINIONS

Africa can clamp down on illicit flows by using AUCPCC effectively

10 Jul 2020, 17:25

By Sabeehah Motala Illicit financial flows (IFFs) are costing Africa $30-billion to $40-billion per year and have eroded African countries’ tax bases, hampering their abilities to respond effectively to Covid-19 emergency needs. Lockdown, states of emergency, and all the accompanying implications mean that developing states are more vulnerable than ever to the possibility of illicit Read more >

CORRUPTION NEWS

What is a tax haven? Offshore finance, explained

08 Jul 2020, 9:44

In May 2020 Mauritius, curiously one of the African countries that perform well on the annual Corruption Perceptions Index, was listed by the European Commission (EC) as a high-risk country for money laundering and funding of terrorism. It was joined on the revised EC list by Botswana, Ghana, and Zimbabwe, among others. The former is Read more >

CORRUPTION NEWS

Zuma’s day in court finally rolls around

23 Jun 2020, 11:28

Now that the inevitable can’t be put off any longer, former president Jacob Zuma is making a show of impatience for the start of his corruption trial. Zuma has been ducking and diving accountability for years in what has been referred to as a classic Stalingrad defence, but now that his options have run out, Read more >

CORRUPTION NEWS

Hawks are finally stepping up the pace

25 Nov 2019, 14:00

By Thato Mahlangu The arrest of ANC MP Bongani Bongo comes in the wake of mounting pressure and criticism on the Directorate for Priority Crime Investigation (Hawks) from the public. The Hawks have been criticised for their inaction when dealing with criminal and corrupt activities done by high-ranking politicians, government officials and business people. A Read more >

CORRUPTION NEWS

TI: time for FATF to review standards, guidance docs

29 Oct 2019, 15:03

Transparency International (TI) says that public registers of beneficial ownership should be the norm. In a new report titled Who is behind the wheel? Fixing the global standards on company ownership the organisation says that uncovering the identities of the real owners of companies is a crucial step in the fight against corruption. “For instance, Read more >

CORRUPTION NEWS

Zuma stay of prosecution application dismissed

11 Oct 2019, 15:08

By Thato Mahlangu Former president Jacob Zuma’s application for a permanent stay of prosecution in his corruption-related case was dismissed with costs, in a judgment handed down by the KwaZulu-Natal (KZN) High Court in Pietermaritzburg this Friday. BREAKING: the order thar dismisses Fmr President Jacob Zuma application for a permanent stay of his corruption prosecution Read more >

CORRUPTION NEWS

Combating trade-based money laundering

04 Jul 2019, 9:07

By Jason Kohn First published on the Global AntiCorruption Blog Global trade has quadrupled in the last 25 years, and with this growth has come the increased risk of trade-based money laundering. Criminals often use the legitimate flow of goods across borders—and the accompanying movement of funds—to relocate value from one jurisdiction to another without Read more >