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Woman’s death sentence reduced to 15 years in jail ARABIA

Woman’s death sentence reduced to 15 years in jail

The Court of Appeal has reduced the verdict of a Colombian woman convicted of illicit drug trade from death sentence to 15 years in jail.

4:45 AM November 25 2016
Arab banks' ties to foreign banks under pressure: Survey ECONOMY

Arab banks' ties to foreign banks under pressure: Survey

More than a third of Arab banks have seen their business links with foreign banks shrink over the past four years because of pressures such as economic sanctions and concern about money laundering, according to a study published on Monday.

4:45 AM November 25 2016
Philippine ex-bank manager out on bail in case linked to cyber heist INTERNATIONAL

Philippine ex-bank manager out on bail in case linked to cyber heist

A Philippine court on Thursday released on bail a former branch manager of a Manila bank in a perjury case linked to the world's largest known cyber bank heist, police said.

4:45 AM November 25 2016
Sri Lanka arrests son of former leader Rajapaksa INTERNATIONAL

Sri Lanka arrests son of former leader Rajapaksa

Sri Lankan financial crime police arrested the eldest son of former president Mahinda Rajapaksa on Monday on suspicion of laundering money, his lawyer said, the latest legal difficulty for the once-powerful family.

4:45 AM November 25 2016
Duterte commits to return heist money, says Bangladesh INTERNATIONAL

Duterte commits to return heist money, says Bangladesh

Philippine President Rodrigo Duterte has given a commitment that $81mn stolen by cyber criminals from the account of Bangladesh Bank in New York would be returned, the Bangladesh ambassador to the Philippines said.

4:45 AM November 25 2016
Ruling against expats upheld in money laundering case ARABIA

Ruling against expats upheld in money laundering case

The Court of Appeal has upheld the ruling of a Doha criminal court sentencing three Asian expatriates to jail for three years each for money laundering.

4:45 AM November 25 2016
Two international meetings switched from Bangladesh after attack INTERNATIONAL

Two international meetings switched from Bangladesh after attack

An Asia-Pacific money laundering group has moved its meeting out of Bangladesh citing security concerns, 10 days after militants stormed a cafe in the capital and killed 20 people, mostly foreigners.

4:45 AM November 25 2016
Spain arrests 30 suspected of laundering money in bitcoin centres INTERNATIONAL

Spain arrests 30 suspected of laundering money in bitcoin centres

Spanish police said they had arrested 30 people suspected of illegally distributing pay television content and of laundering the proceeds by investing in bitcoin "mining" centres for processing transactions.

4:45 AM November 25 2016
Dubai police seek Canadians, Iranian after property investor shot ASIA

Dubai police seek Canadians, Iranian after property investor shot

Dubai police are seeking at least two Canadians and one Iranian in connection with the fatal shooting last week of a real estate investor in an upscale neighbourhood, media reported on Wednesday.

4:45 AM November 25 2016
Founder of online underworld bank gets 20 years in prison INTERNATIONAL

Founder of online underworld bank gets 20 years in prison

The founder of an online underworld bank that allegedly laundered billions of dollars for criminals was sentenced Friday to 20 years in prison.

4:45 AM November 25 2016
Indian foreign ministry suspends Vijay Mallya's passport INTERNATIONAL

Indian foreign ministry suspends Vijay Mallya's passport

India's government said it had temporarily suspended the passport of beleaguered tycoon Vijay Mallya, after he failed to appear before financial crime investigators in connection with a money laundering probe.

4:45 AM November 25 2016
Australia arrests two suspected of Islamic State financing INTERNATIONAL

Australia arrests two suspected of Islamic State financing

Australian police said they had arrested two people, including a 16-year-old girl, on suspicion of raising funds to support operations of the Islamic State militant group.

4:45 AM November 25 2016