Colombia says ELN Laundered $225 Million through Front Companies
Colombia’s Prosecutor General’s Office accused the National Liberation Army (ELN) of running a two-decade money-laundering network that washed more than $225 million (COP 885 billion) in illicit proceeds through a web of shell and front companies across the country, according to a statement cited by Colombia Reports.
Growing Mafia Power Puts Belgium at Risk of Becoming ‘Narco-State’: Judge
Belgium is in danger of evolving into a “narco-state” as organized crime penetrates key institutions and exploits Antwerp’s giant port to smuggle cocaine into Europe, an investigating judge warned in an open letter cited by the Financial Times.
Lego Products Still Reach Russia via Europe Despite Company Exit
Lego toys manufactured in the Czech Republic continue to enter Russia through European trading companies more than two years after the Danish group halted direct sales, according to customs data cited in a new investigation by the Czech outlet Page Not Found and reporting by the Kyiv Independent.
FATF Removes South Africa, Nigeria, Mozambique and Burkina Faso from ‘Grey List’
Sub-Saharan Africa’s two largest economies, South Africa and Nigeria, were delisted Friday from a global watchdog’s roster of jurisdictions under increased monitoring for illicit money flows, alongside Mozambique and Burkina Faso.
FinCEN Flags $9-Billion Iranian ‘Shadow Banking’ Network
The U.S. Treasury Department disclosed the existence of roughly $9 billion in 2024 financial activity tied to Iranian “shadow banking,” mapping a web of front companies and intermediaries used to sell sanctioned oil, launder illicit proceeds, and procure banned technology.
U.S. Slaps Sweeping Sanctions on Russia’s Lukoil and Rosneft as Ukraine Talks Stall
The United States imposed expansive new sanctions Wednesday on Russia’s two largest oil companies, Lukoil and Rosneft, escalating U.S. economic pressure as negotiations to end the war in Ukraine falter.
Mexican Cartel Turns to ‘Dark Fleet’ to Smuggle Fuel from U.S. and Canada
One of Mexico’s most powerful drug cartels is smuggling gasoline and diesel into the Port of Ensenada with the aid of a “dark fleet” tanker and a Houston-based company, according to an investigation by Reuters.
Ten Years On, Iran Nuke Deal Ends with a Whimper
Iran has announced the official end of the 2015 nuclear agreement, saying it is no longer bound by the Joint Comprehensive Plan of Action (JCPOA) and that all restrictions and related mechanisms under the accord are terminated, The Guardian reported.
NY Jury Weighs Whether BNP Paribas Enabled Sudan Atrocities
A federal jury in Manhattan began deliberations Thursday on claims that BNP Paribas helped enable atrocities in Sudan under former ruler Omar al-Bashir in a civil case brought by Sudanese survivors, Le Monde and AFP reported.
Sanctioned Shadow Fleet Ships Linked to Assad Corruption and Looted Ukrainian Grain
Three cargo vessels recently sanctioned by the EU for operating in Russia’s “shadow fleet” were quietly sold out of Syria’s state fleet in 2023 for $1 each to an offshore company in the Seychelles, according to new reporting by OCCRP and its Syrian partner SIRAJ.