Latest news with #Anti-MoneyLaunderingLaw
Roya News
16-07-2025
- Politics
- Roya News
Legal expert outlines repercussions for Muslim Brotherhood financial scheme in Jordan
In the ongoing investigation by Jordanian authorities into the Muslim Brotherhood's illegal activities in Jordan, legal expert and former Minister of State for Legal Affairs, Mahmoud Al-Kharabsheh, stated that the group is 'fundamentally illegal,' a status affirmed by an earlier and definitive Court of Cassation ruling, the highest legal court in Jordan. Speaking to Roya, Al-Kharabsheh explained that the banned group allegedly used millions of dinars in illicit activities, with around 30 million dinars collected through various suspicious methods. This included registering funds in the names of individual members through direct ownership or company shares. Investigations have revealed that some of these funds were used to finance suspicious campaigns in 2020, as well as support activities and cells that have since been apprehended and referred to the judiciary. Al-Kharabsheh noted that authorities seized approximately 4 million dinars that an individual attempted to hide in a home north of Amman. He added that these collected funds, mostly gathered from citizens, were purportedly intended for Gaza. Expected Legal Consequences and Implications Regarding legal consequences, Al-Kharabsheh emphasized that the group is completely unlicensed and its existence is illegal. He anticipates that the judiciary will issue just rulings against the group, which exploited unofficial circumstances to violate the law. He highlighted that operations were conducted secretly, involving the transfer of funds abroad via currency exchange shops and investments in apartment purchases, among other methods. Al-Kharabsheh expects several laws to be applied against the group, including the Associations Law (which penalizes illegal fundraising), the Anti-Illicit Enrichment Law, the Anti-Money Laundering Law, and the Penal Code, which punishes such illegal activities. Concerning the potential impact on the Islamic Action Front Party, Al-Kharabsheh indicated that investigations revealed the banned group used the party's premises to cover its activities. Should a connection between the banned group and the party be proven, the Independent Election Commission would take appropriate legal action under the Political Parties Law.
GMA Network
23-05-2025
- Politics
- GMA Network
DOJ files 62 counts of money laundering vs Alice Guo
The Department of Justice (DOJ) on Friday filed 62 counts of money laundering charges against former Bamban, Tarlac Mayor Alice Guo and others, the Presidential Anti-Organized Crime Commission (PAOCC) said. The PAOCC said the money laundering case against Guo, also known as Chinese citizen Guo Hua Ping, was filed before Capas, Tarlac Regional Trial Court (RTC). The charges include 26 counts of violation of Section 4(a) of the Anti-Money Laundering Law, which relates to transacting a monetary instrument or property that represent, involves, or relates to proceeds of an unlawful activity. Five counts are for violating Section 4(b) of the same law, which is committed by a person who converts, transfers, disposes of, acquires, possesses or uses such monetary instruments or properties. Finally, 31 counts are for Section 4(d), which pertain to attempts or conspiracy to commit money laundering offenses. Just two days ago, Guo personally filed separate counter-affidavits on the tax evasion, falsification, and graft complaints filed against her before the DOJ. Lawyer Nicole Jamilla, Guo's legal counsel, has maintained that her client is innocent of the criminal charges leveled against the former mayor. Guo is also facing a qualified trafficking case before a Pasig court, a graft case before a Valenzuela court, and a material misrepresentation case before a Tarlac court. A quo warranto petition was also filed against Guo with a Manila court, as well as a petition to cancel her birth certificate before a Tarlac court. Guo is currently detained at the Pasig City Jail. — VDV, GMA Integrated News
South China Morning Post
07-04-2025
- Business
- South China Morning Post
China's central bank plans to name money launderers to curb financial crimes
China's central bank appears poised to list organisations and individuals at high risk of money laundering, as a new column detailing potential offenders has been added to the bank's website as part of the country's endeavours to clamp down on illicit finance. Advertisement The move comes as Beijing updates its compliance system in advance of a major international inspection this year. While maintaining its high-pressure campaign to limit the exchange of cryptocurrencies such as bitcoin, it revised its Anti-Money Laundering Law last year and established a cross-ministerial task force to review the progress of a three-year action plan which began in 2022. In the update to its website, the Anti-Money Laundering Bureau of the People's Bank of China added a new column under its online 'Risk Warnings and Financial Sanctions' section: a list, blank as of Monday, featuring organisations and individuals deemed likely to engage in money laundering. Wu Changhai, a professor at China University of Political Science and Law, said the planned list is a preventive measure intended to enhance early warning capacity. Advertisement China is getting ready for its fifth-round mutual evaluation by the Financial Action Task Force (FATF), the global standard-setter for rules curbing money laundering and the financing of terrorism. It was accepted as a member in 2007.
Asharq Al-Awsat
28-02-2025
- Business
- Asharq Al-Awsat
Saudi Arabia Tightens Regulations on Precious Metals and Gemstone Traders to Combat Money Laundering
Saudi Arabia has imposed stricter regulations on traders of precious metals and gemstones as part of its anti-money laundering efforts. The government has instructed investors to comply with Article 7 of the Anti-Money Laundering Law, which mandates financial institutions and designated non-financial businesses to implement due diligence measures. These measures coincide with Saudi Arabia's push to expand its mining sector, a key component of Vision 2030. The Kingdom has increased its mineral wealth estimate to SAR9.4 trillion ($2.5 trillion) and introduced exploration incentives worth SAR682.5 million ($182 million) by the end of 2023. The new Mining Investment Law aims to attract investment and boost mineral production. Since its enactment, the number of mining licenses has risen by 138%, according to the Ministry of Industry and Mineral Resources. The Saudi Ministry of Commerce has directed private sector entities to apply customer due diligence measures, especially for high-risk transactions. Businesses must verify customer identity using official documents and obtain and confirm details such as full name, address, date and place of birth, and nationality for individual customers. Transactions must not be conducted without proper identity verification, and businesses are encouraged to contact the General Administration for Anti-Money Laundering for guidance. Saudi Arabia aims to increase the mining sector's GDP contribution to SAR176 billion ($47 billion) by 2030 while enhancing domestic mineral supply, improving the trade balance, and attracting investment. Other priorities include expanding non-oil revenue, creating jobs, developing local talent, and strengthening regulatory frameworks. These efforts align with the Kingdom's broader goal of establishing a competitive and sustainable mining industry while ensuring compliance with international financial regulations.
LBCI
20-02-2025
- Politics
- LBCI
Judge Ghaza Aoun files charges against former and acting BDL governors
Mount Lebanon's Public Prosecutor, Judge Ghada Aoun, filed charges against former Banque du Liban (BDL) governor Riad Salameh, acting governor Wassim Mansouri, as well as Antoine Salameh and Raja Abou Asli. The charges include violations of Articles 363, 371, 376, 377, and 671 of the Penal Code, in conjunction with Paragraph 9 of Article 1 of the Anti-Money Laundering Law, as well as Articles 3 and 9 of the same law, Article 14 of the Illicit Enrichment Law, and Articles 7 and 8 of the Banking Secrecy Law. The case has been referred to the First Investigative Judge of Mount Lebanon with a request for their in-person arrest or, if necessary, absentia.
