US authorities on Friday charged a British businessman with a checkered history with securities fraud for bilking investors in what turned out to be a fake trading platform for virtual currency Bitcoin. The Securities and Exchange Commission said “the clandestine” Renwick Haddow, a UK citizen living in New York, diverted funds invested in the phony … Read more
A youth-oriented group has accused the Akufo-Addo government of having committed an illegality in contracting the 2.25 billion-dollar bond, and given the President 15 days to form the board of the Securities and Exchange Commission (SEC) to investigate the matter. According to the group, the SEC which supervises the securities market, was dysfunctional at the … Read more
Three Chinese hackers have been ordered to pay $8.8m (£6.8m) over a multi-million dollar insider trading scam. The US Securities Exchange Commission (SEC) said Iat Hong, 26, Bo Zheng, 30, and Hung Chin, 50, breached the websites of US law firms and accessed confidential information about mergers and acquisitions. They then used this information to … Read more
The Bank of Ghana(BoG) has hinted that it will soon publish sanctions for financial institutions who do not comply with the provisions of anti-money laundering acts. This it believes will level the fight against money laundering in the financial institutions. The Financial Intelligence Centre (FIC) earlier pushed for the amendment of legislations on money laundering and financial … Read more
The Finance Minister, Ken Ofori-Atta, has announced that Ghana will soon institute measures to deepen collaboration between the Ghana Revenue Authority and the Financial Forensic Unit of the Criminal Investigation Department of the Ghana Police Service to ensure that financial crimes are drastically reduced. According to him, these measures will be put in place to … Read more
Ghana has been cited as one of the countries in the world where money laundering activities grew in 2016 and has recorded two money laundering convictions in the same year, a recent report from the US State Department has said. The International Narcotics Strategy Report found that although Ghana’s Anti-Money Laundering Law (AML), is largely … Read more