Financial Crime Online

“..Millions of dollars in international aid to build and repair Iraq’s dilapidated schools have for years gone unspent. Now, Iraq’s government risks losing the funding as the World Bank weighs whether some of it would be better used elsewhere…”. The Washintgon Examiner voices the World Bank frustration about financial aid to Iraq. The World Bank [...]

HSBC has been battling with Shah for a while. Shah instructed HSBC to wire funds from his account. HSBC suspected money laundering and subsequently blocked the transactions and reported them to the authorities. Shah claimed to have suffered significant losses because HSBC blocked the funds and sued HSBC. A win for Shah would have sparked [...]

Another high profile “PEP” investigation. Arafat’s former aide has been accused of funneling millions of public funds abroad. The money allegedly was wired from Palestinian Investment Fund bankaccounts to accounts held by shell companies under his control. In 2009, CBS reported on secret accounts in Israel (..) and Switzerland held by the Palestinian Investment Fund. Check [...]