The House of Representatives Committee has launched an extensive investigation into Sterling Bank following allegations of money laundering, unauthorized deductions, and other financial irregularities. The probe, which also implicates the Central Bank of Nigeria (CBN) and Shell Petroleum, was
Sterling Bank Limited has found itself embroiled in a controversy as serious allegations of money laundering and fraud involving $28.3 million have come to light. These allegations were brought forward by Miden Systems Ltd and its director, Dr. Brendan Innocent Usoro. The case began gaining
The ongoing investigation involving K.T. Rama Rao, commonly known as KTR, who serves as the working president of the Bharat Rashtra Samithi (BRS) and is a former Municipal Administration Minister, has captured significant public and media attention. The case revolves around allegations of financial
The increasing complexity and stringent nature of regulatory demands have made compliance a considerable challenge for businesses, especially those in highly regulated industries. The need to adhere to legal standards, manage detailed reporting, and mitigate risks often requires substantial
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has been granted new investigative and information-gathering powers under the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 (Cth) (the AML/CTF Act). These changes, effective January 7, 2025, significantly
A significant legal proceeding in Abuja has cast a spotlight on the operations of several Nigerian banks, raising critical questions about their involvement in money laundering activities. The Federal High Court, under Justice Emeka Nwite, recently issued an interim order freezing 21 bank accounts
