The Financial Action Task Force has approved a detailed guidance document for the precious stones and metals trades. The Antwerp World Diamond Centre (AWDC) said in a release that it welcomed the move.
The document lays out how a more sophisticated a risk-based approach can be developed for those who deal in precious metals and stones, including the diamond industry. For the diamond business, this means that the specific concerns of the diamond industry will be taken into account more adequately.
Issues specific to the diamond trade addressed in the document include the physical inspection of diamonds at the official import-export offices, business with registered diamond dealers and bourse members, the Kimberley Process Certification Scheme for rough diamonds and a payment system through recognized and specialized banks.
AWDC notes that it was extensively involved in the consultation process that let to agreement on the guidance document, since the summer of 2007. The approval was announced at the FATF plenary in June.
FATF is an inter-governmental body that works to develop policies to combat money laundering and terrorist financing.
AWDC spokesperson Philip Claes commented, “We welcome the fact that, with its new guidance document, FATF has finally recognized the positive impact that the structure, regulation and supervision of the diamond trade in Antwerp has had in reducing money laundering risk.”
The Belgian government was also involved in finalizing and approving the FATF guidance. AWDC noted that it will work further with the Belgian authorities in establishing a more adequate and efficient money laundering regulation for the diamond industry, which will be based on the new FATF guidance document operate within the framework of Belgium’s implementation of the anticipated third EU directive concerning money laundering.
Source: IDEX
Showing posts with label Belgium. Show all posts
Showing posts with label Belgium. Show all posts
on Monday, May 21, 2012
A federal district judge Friday dismissed a breach of privacy lawsuit against the Society for Worldwide Interbank Financial Telecommunication (SWIFT). The Belgium-based international banking cooperative disclosed personal information about its customers to third parties, including the CIA and US Treasury Department. Ian Walker and Stephen Kruse said their privacy rights were violated because each had engaged in wire transactions that might have been processed by SWIFT, although neither disclosed his bank name. Judge T. S. Ellis III of the US District Court for the Eastern District of Virginia wrote:
There is no allegation that plaintiffs' bank or banks are members of SWIFT, nor is there any information indicating that plaintiffs' financial information was disclosed by SWIFT...Plaintiffs rely on their own belief that their financial information has been disclosed, but such a belief, without more, cannot support standing.
The ruling leaves open the possibility that Walker and Kruse could file an amended suit, naming their banks. AP has more.
The case began in federal district court in Chicago, but SWIFT moved to transfer the case to Virginia. The Department of Justice had considered invoking the state secrets privilege [JURIST report] to halt the lawsuit out of concern that it might reveal to much about SWIFT programs designed to prevent the financing of terrorism.
http://jurist.law.pitt.edu/paperchase/2007/10/federal-judge-dismisses-swift-data.php
There is no allegation that plaintiffs' bank or banks are members of SWIFT, nor is there any information indicating that plaintiffs' financial information was disclosed by SWIFT...Plaintiffs rely on their own belief that their financial information has been disclosed, but such a belief, without more, cannot support standing.
The ruling leaves open the possibility that Walker and Kruse could file an amended suit, naming their banks. AP has more.
The case began in federal district court in Chicago, but SWIFT moved to transfer the case to Virginia. The Department of Justice had considered invoking the state secrets privilege [JURIST report] to halt the lawsuit out of concern that it might reveal to much about SWIFT programs designed to prevent the financing of terrorism.
http://jurist.law.pitt.edu/paperchase/2007/10/federal-judge-dismisses-swift-data.php
on Wednesday, May 16, 2012
The European Commission has decided to refer Belgium, Ireland, Spain and Sweden to the European Court of Justice over non-implementation of an anti money laundering directive.
The 2005 legislation tightens the EU anti money laundering regime currently applicable to the financial sector as well as lawyers, notaries, accountants, real estate agents and casinos. The scope of the directive is broadened also to encompass trust and company service providers as well as all providers of goods, when payments are made in cash in excess of 15,000 euros.
In addition, the directive requires the application of the anti money laundering tools to the fight against terrorist financing.
European Union member states are required to transpose the legislation by Dec. 15, 2007.
Source: Xinhua
The 2005 legislation tightens the EU anti money laundering regime currently applicable to the financial sector as well as lawyers, notaries, accountants, real estate agents and casinos. The scope of the directive is broadened also to encompass trust and company service providers as well as all providers of goods, when payments are made in cash in excess of 15,000 euros.
In addition, the directive requires the application of the anti money laundering tools to the fight against terrorist financing.
European Union member states are required to transpose the legislation by Dec. 15, 2007.
Source: Xinhua
on Sunday, May 13, 2012
Banks are increasingly notifying about money laundering suspicion operations, an official source told El Khabar, adding that during this year’s first half, banks have issued 192 money laundering suspicion notifications, i.e. a 100% increase comparing to the three last years.
The same source said Europe stand on the top position in terms of favorite destinations of laundered money, including France, Italy and Belgium, followed by Gulf countries, like Arab Emirates, while some Latin America’s countries, like Brazil, have joined the list.
The number of money laundering suspicion notifications moved from 36 in 2006, to 66 last year, while jumping up to 192 during 2008 first half.
On another side, the same source said export activities have become safe heaven of money laundering operations, while pointing out that no notification has been issued about local products exports.
Meanwhile, Algeria will be subject to evaluation in terms of money laundering and countering financial crimes, scheduled by international organizations early next year.
Worth mentioning that Algerian Justice is procrastinating in terms of treating money laundering cases, while managing settling only two cases off the hundred suspicion notifications being issued by banks.
Source: ElKhabar
The same source said Europe stand on the top position in terms of favorite destinations of laundered money, including France, Italy and Belgium, followed by Gulf countries, like Arab Emirates, while some Latin America’s countries, like Brazil, have joined the list.
The number of money laundering suspicion notifications moved from 36 in 2006, to 66 last year, while jumping up to 192 during 2008 first half.
On another side, the same source said export activities have become safe heaven of money laundering operations, while pointing out that no notification has been issued about local products exports.
Meanwhile, Algeria will be subject to evaluation in terms of money laundering and countering financial crimes, scheduled by international organizations early next year.
Worth mentioning that Algerian Justice is procrastinating in terms of treating money laundering cases, while managing settling only two cases off the hundred suspicion notifications being issued by banks.
Source: ElKhabar
on Saturday, May 5, 2012
BRUSSELS, June 5 (Reuters) - Fifteen European Union states including financial centres Germany and France have been given a final warning for failing to update their rules aimed at choking off finance for terrorist activities, the bloc's executive said.
"If there is no satisfactory reply within two months, the Commission may refer the matter to the European Court of Justice," the European Commission said in a statement on Thursday.
EU countries were obliged to introduce an updated version of the bloc's anti-moneylaundering rules by December last year.
The warnings were sent to Belgium, the Czech Republic, Germany, Greece, Spain, Finland, France, Ireland, Luxembourg, Malta, the Netherlands, Poland, Portugal, Sweden and Slovakia.
The rules apply to the financial sector, lawyers, notaries, accountants, real estate agents, casinos, trusts and company service providers.
The scope also extends to all providers of goods when payments are made in cash over 15,000 euros ($23,140).
Under the rules, a company would have to identify and verify who they are dealing with, report suspicions of moneylaundering or terrorist financing to the public authorities, and ensure personnel are properly trained.
http://www.finance.cz/zpravy/finance/171673-update-1-eu-targets-15-states-over-moneylaundering-rules/
"If there is no satisfactory reply within two months, the Commission may refer the matter to the European Court of Justice," the European Commission said in a statement on Thursday.
EU countries were obliged to introduce an updated version of the bloc's anti-moneylaundering rules by December last year.
The warnings were sent to Belgium, the Czech Republic, Germany, Greece, Spain, Finland, France, Ireland, Luxembourg, Malta, the Netherlands, Poland, Portugal, Sweden and Slovakia.
The rules apply to the financial sector, lawyers, notaries, accountants, real estate agents, casinos, trusts and company service providers.
The scope also extends to all providers of goods when payments are made in cash over 15,000 euros ($23,140).
Under the rules, a company would have to identify and verify who they are dealing with, report suspicions of moneylaundering or terrorist financing to the public authorities, and ensure personnel are properly trained.
http://www.finance.cz/zpravy/finance/171673-update-1-eu-targets-15-states-over-moneylaundering-rules/
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on Tuesday, March 27, 2012
Police say they've dismantled a Canadian money-laundering ring that used dummy international companies to recycle illicit cash.
Quebec provincial police said Wednesday that it had frozen $48 million in assets, among the largest seizures of its kind in Canada.
Four people were arrested as officers swooped down on a number of targets in the Montreal area — including Ronald Chicoine, 57, the owner of Speedo Financial Corporation and the scheme's alleged mastermind.
Insp. Denis Morin said the scheme received help in Europe from three people who ran shell companies: two of them are Swiss nationals, and the other is a Belgian on the lam and believed to be abroad.
Investigators said money was sent to false overseas companies based in Europe, with the money then being sent back to Montreal in the form of fake loans to Chicoine's company.
Speedo Financial Corp. would then lend the money out to clients as legitimate loans at legal interest rates, police said.
Authorities said the process concluded with a double-whammy on the government: at income-tax time, the suspects allegedly inflated their declared expenses.
"The strategy allowed for fake interest charges to be declared, and then for tax evasion," Morin said.
Chief-Insp. Francois Roux said while the initial capital came from “various cells of organized crime," the legitimate clients of the business, about 300 in total, were unaware and completely innocent.
Roux declined to say what kind of people were seeking loans. He said they would be contacted by a private firm hired to handle Speedo's affairs in the coming weeks.
"They work in sectors where it is sometimes harder to come by loans," Roux said.
Three men, including Chicoine, face a number of charges including gangsterism, forgery, fraud, money-laundering, receiving stolen goods and breaking bail conditions.
A woman also arrested Wednesday faces a charge of improper storage of a firearm.
Accounting records and computer data were also seized as police executed seven search warrants in Montreal suburbs, including in the offices of a lawyer and two notaries.
In addition to the $38 million in Chicoine's company coffers, police seized five bank accounts in Canada and Switzerland containing $5.7 million, as well as four buildings in Montreal and on the city's South Shore worth $2.5 million.
Police also seized two Porsches and two private homes.
The amount of money allegedly defrauded from both the federal and provincial governments is estimated at $12 million between the 1996 and 2009 tax years.
Police said Chicoine, 57, the owner of the financial company, was the brains behind the scheme.
Police said the firm used loopholes to stay in business even though police had long had their eye on Chicoine's activities. In 2003, the company was found guilty of money-laundering and in 2005 it faced a heavy fine for tax evasion.
The Montreal businessman was initially arrested in November 2008 under Project Dorade, which involved allegations of fake billing in the construction industry to the tune of $40 million.That case is still before the courts.
Police said the current investigation stemmed from that previous one.
This investigation, dubbed Dorade 2, suggested that Chcoine also owned the European shell companies, but that he used cohorts as figureheads.
Also arrested were Serge Perrier, 50, an accountant who handled the books for Chicoine, and Andre Ronald Comeau, 58, a disbarred Quebec lawyer who acted as a facilitator between the European shell companies.
Police were still looking for Regis Dini and Alain Vayda, both Swiss, and Jacques Stalmans, a Belgian.
Source: WFP
on Monday, April 2, 2007
Three Italians arrested in connection with a European Union kickback probe now face additional charges of money laundering, judicial officials in Brussels said on Thursday.
Jos Colpin, the spokesman of Brussels public prosecutor Berta Bernardo-Mendez, said the three suspects - who include an EC official and the assistant of an MEP - were accused of money laundering as well as corruption, fraud, criminal conspiracy, forgery and breaching public tender laws.
Commission functionary Giancarlo Ciotti, 46, European parliamentary assistant Sergio Tricarico, 39, and businessman Angelo Troiano, 60, were arrested on Wednesday in Brussels.
Colpin said the three, who are all resident in Brussels, were suspected of defrauding European taxpayers of several million euros over a period going back more than ten years.
The probe centres on tenders for European Commission offices abroad and contracts for supplying these buildings with security systems.
Ciotti is suspected of pocketing bribes from real estate and security companies in return for the assignment of contracts to rent, equip and secure EC buildings, in India and Albania in particular.
“It was a matter of not following the rules of public tenders which made it possible to favour certain firms which were obliged to pay bribes to those who organised the fraud,” Colpin said after the arrests.
He said it appeared to be a “very big case of corruption” and that Italy was the suspected “epicentre”.
EC offices in Brussels and banks, homes and private offices in Italy, France and Luxembourg were searched on Tuesday in an operation involving more than 150 police officers.
The investigation began in July 2004 when the EC received a complaint from an unsuccessful bidder in a tender procedure.
The commission immediately notified its anti-fraud agency OLAF.
Tricarico is an assistant to MEP Gianni Rivera, a former soccer star turned politician. Prior to that, Tricarico worked for Franco Marini, who is now Italy’s Senate speaker.
Rivera said on Wednesday said he was “stunned” by Tricarico’s arrest and had “never noticed anything suspicious” about his behaviour.
Troiano is a real estate agent and owner of several private security installation and supply firms.
Media reports, meanwhile, spotlighted alleged anomalies associated with the EC building in Tirana.
Used to house EC delegations, the building is situated on the outskirts of the Albanian capital and is owned by a private company, one of whose partners is an Italian businessman based in Potenza.
The media reported that the building cost the EC 40-50,000 euros a month to rent - much more than the market price for properties in the centre of the capital.
The EC budget for commission delegations’ buildings abroad stands at around 56 million euros for 2007.
The Italian foreign ministry said on Thursday that it was “looking into the judicial position” of the three arrested Italians and would “ensure they are guaranteed all their defence rights”.
Judicial sources close to the probe said it could widen and that more arrests were possible.
http://www.italymag.co.uk/2007/news-from-italy/current-affairs/italians-in-eu-graft-probe-face-money-laundering-charges/
Jos Colpin, the spokesman of Brussels public prosecutor Berta Bernardo-Mendez, said the three suspects - who include an EC official and the assistant of an MEP - were accused of money laundering as well as corruption, fraud, criminal conspiracy, forgery and breaching public tender laws.
Commission functionary Giancarlo Ciotti, 46, European parliamentary assistant Sergio Tricarico, 39, and businessman Angelo Troiano, 60, were arrested on Wednesday in Brussels.
Colpin said the three, who are all resident in Brussels, were suspected of defrauding European taxpayers of several million euros over a period going back more than ten years.
The probe centres on tenders for European Commission offices abroad and contracts for supplying these buildings with security systems.
Ciotti is suspected of pocketing bribes from real estate and security companies in return for the assignment of contracts to rent, equip and secure EC buildings, in India and Albania in particular.
“It was a matter of not following the rules of public tenders which made it possible to favour certain firms which were obliged to pay bribes to those who organised the fraud,” Colpin said after the arrests.
He said it appeared to be a “very big case of corruption” and that Italy was the suspected “epicentre”.
EC offices in Brussels and banks, homes and private offices in Italy, France and Luxembourg were searched on Tuesday in an operation involving more than 150 police officers.
The investigation began in July 2004 when the EC received a complaint from an unsuccessful bidder in a tender procedure.
The commission immediately notified its anti-fraud agency OLAF.
Tricarico is an assistant to MEP Gianni Rivera, a former soccer star turned politician. Prior to that, Tricarico worked for Franco Marini, who is now Italy’s Senate speaker.
Rivera said on Wednesday said he was “stunned” by Tricarico’s arrest and had “never noticed anything suspicious” about his behaviour.
Troiano is a real estate agent and owner of several private security installation and supply firms.
Media reports, meanwhile, spotlighted alleged anomalies associated with the EC building in Tirana.
Used to house EC delegations, the building is situated on the outskirts of the Albanian capital and is owned by a private company, one of whose partners is an Italian businessman based in Potenza.
The media reported that the building cost the EC 40-50,000 euros a month to rent - much more than the market price for properties in the centre of the capital.
The EC budget for commission delegations’ buildings abroad stands at around 56 million euros for 2007.
The Italian foreign ministry said on Thursday that it was “looking into the judicial position” of the three arrested Italians and would “ensure they are guaranteed all their defence rights”.
Judicial sources close to the probe said it could widen and that more arrests were possible.
http://www.italymag.co.uk/2007/news-from-italy/current-affairs/italians-in-eu-graft-probe-face-money-laundering-charges/
on Wednesday, January 10, 2007
10.01.2007 - Innovations Softwaretechnologie GmbH, which is headquartered in Immenstaad on Lake Constance (Germany), provides financial institutions with tools for the prevention of money laundering and the financing of terrorism. A large number of banks and insurance companies are currently using software in combination with a worldwide sanction list to identify high-risk persons and politically exposed persons among their customers. Now, the subsidiaries of Swiss Life in Brussels and Luxembourg have announced their decision to implement .
Starting in 2007, financial services providers in the EU will be subject to stricter obligations to combat money laundering, corruption and terrorist financing. Business relationships with persons suspected of involvement in terrorism are prohibited. Additional due diligence measures are required for politically exposed persons (PEPs).
The software solution assists in meeting these requirements by checking customer data against entries in international blacklists at regular intervals.
As many as 500,000 politically exposed persons and high-risk persons with a criminal or terrorist background are included in worldwide sanction lists. The system completes a detailed search (1:1 matching) and a fuzzy analysis when checking all customers and when a business relationship is being established with a customer for the first time. The fuzzy analysis is based on an algorithm that compares parts of names, aliases and additional information such as date of birth, nationality and place of residence. This is a quality aspect that supplements the 1:1 name comparison. The compliance officer initiates clarification when matches are found.
has been in use at the headquarters of Swiss Life for over a year. The company branches in Belgium and Luxembourg are now also using this software system to check their customers electronically. National regulations such as those passed by Commission banquaire, financière et d’ assurances in Belgium can be integrated into .
is available in three languages and is tailored to the needs of internationally active companies. Interested persons can test the functions of the system in a web conference.
Innovations Softwaretechnologie GmbH is a development partner for front-end applications and compliance solutions. The company was founded in 1997 and currently has a staff of 85 highly qualified computer sciences graduates. Its customers include respected companies such as Bank Vontobel, Zürcher Kantonalbank, LGT Bank in Liechtenstein, Schweizerische Post - Post Finance, HypoVereinsbank and the Swiss Life Group. Innovations Softwaretechnologie is one of the leading providers of anti-money-laundering solutions in Switzerland and Liechtenstein with its mlds® system.
http://www.verivox.de/News/ArticleDetails.asp?aid=41644&pm=1
Starting in 2007, financial services providers in the EU will be subject to stricter obligations to combat money laundering, corruption and terrorist financing. Business relationships with persons suspected of involvement in terrorism are prohibited. Additional due diligence measures are required for politically exposed persons (PEPs).
The software solution assists in meeting these requirements by checking customer data against entries in international blacklists at regular intervals.
As many as 500,000 politically exposed persons and high-risk persons with a criminal or terrorist background are included in worldwide sanction lists. The system completes a detailed search (1:1 matching) and a fuzzy analysis when checking all customers and when a business relationship is being established with a customer for the first time. The fuzzy analysis is based on an algorithm that compares parts of names, aliases and additional information such as date of birth, nationality and place of residence. This is a quality aspect that supplements the 1:1 name comparison. The compliance officer initiates clarification when matches are found.
has been in use at the headquarters of Swiss Life for over a year. The company branches in Belgium and Luxembourg are now also using this software system to check their customers electronically. National regulations such as those passed by Commission banquaire, financière et d’ assurances in Belgium can be integrated into .
is available in three languages and is tailored to the needs of internationally active companies. Interested persons can test the functions of the system in a web conference.
Innovations Softwaretechnologie GmbH is a development partner for front-end applications and compliance solutions. The company was founded in 1997 and currently has a staff of 85 highly qualified computer sciences graduates. Its customers include respected companies such as Bank Vontobel, Zürcher Kantonalbank, LGT Bank in Liechtenstein, Schweizerische Post - Post Finance, HypoVereinsbank and the Swiss Life Group. Innovations Softwaretechnologie is one of the leading providers of anti-money-laundering solutions in Switzerland and Liechtenstein with its mlds® system.
http://www.verivox.de/News/ArticleDetails.asp?aid=41644&pm=1
on Monday, December 25, 2006
The European Union and the United States should try to reach a deal quickly on the way financial transactions are monitored to help the fight against terrorism, the European Commission’s security chief said.
An EU data watchdog earlier this year found that international banking network SWIFT broke privacy laws by allowing the U.S. Treasury Department to consult its records after the Sept. 11 attacks on the United States. European Security and Justice Commissioner Franco Frattini on Dec. 19 said the EU and the U.S. authorities should establish procedures for processing transaction data and options for using it to stop financing of terrorism.
“That would enable us both to avoid damaging our anti-terrorism efforts while reassuring customers ... that there are going to be controls exercised on the use to which the data is put,” Frattini told members of the European Parliament.
He said he hoped such an agreement could be reached by March.
Belgian Prime Minister Guy Verhofstadt said earlier this year he wanted EU-U.S. talks to create common privacy rules for handling financial transaction records.
Following concerns over the SWIFT case and over the transfer of air passenger data, the EU and the United States started talks in November to establish broad guidelines over common data privacy rules.
http://www.defensenews.com/story.php?F=2433775&C=america
An EU data watchdog earlier this year found that international banking network SWIFT broke privacy laws by allowing the U.S. Treasury Department to consult its records after the Sept. 11 attacks on the United States. European Security and Justice Commissioner Franco Frattini on Dec. 19 said the EU and the U.S. authorities should establish procedures for processing transaction data and options for using it to stop financing of terrorism.
“That would enable us both to avoid damaging our anti-terrorism efforts while reassuring customers ... that there are going to be controls exercised on the use to which the data is put,” Frattini told members of the European Parliament.
He said he hoped such an agreement could be reached by March.
Belgian Prime Minister Guy Verhofstadt said earlier this year he wanted EU-U.S. talks to create common privacy rules for handling financial transaction records.
Following concerns over the SWIFT case and over the transfer of air passenger data, the EU and the United States started talks in November to establish broad guidelines over common data privacy rules.
http://www.defensenews.com/story.php?F=2433775&C=america
EXCLUSIVE MISSING ACCOUNTANT: NEW EVIDENCE FROM ONE OF HIS CLOSEST ASSOCIATES
By Norman Silvester
A FRIEND of missing accountant Andrew Ramsay has broken her silence to reveal he was caught up in the murky world of money laundering.
Sandy Kelley, who owns a guest house in Belgium with her husband George, 65, says Ramsay tried to set up a bogus company in a complex deal involving Chinese and Russian financiers.
The Sunday Mail can reveal that Andrew spoke to the Kelleys three weeks before he vanished to arrange a trip to Belgium with his partner Beverley Sinclair.
Ramsay, 53, has not been seen since he was arrested by two bogus police officers outside his home in Cardonald, Glasgow, in February.
Sandy, who lives in the Belgian town of Borgloon, was quizzed by Strath-clyde Police on a trip home to see relatives in her home town of Welling-borough, near Northampton.
Sandy, 63, and George, both hope Andrew faked his disappearance... but admit they fear the worst.
Ramsay was employed by Glasgow-based mobile phone firm Diginett between July 2004 and April 2005 and worked for them across Europe.
The firm's 40-year-old owner, If takar Iqbal, was arrested in his home in Pollokshields, Glasgow, by Customs officers as part of a £500million VAT fraud probe. He was later released.
A month before his disappearance Andrew was quizzed by Customs officers about his work and told he might be a witness in a future trial.
Sandy said: "Like everyone else we are desperate that this is resolved one way or another. We need to know if he is alive or dead.
"We spoke to him three weeks before he disappeared and he was looking forward to seeing us in March and introducing us to Beverley.
"I am sure that if he was alive he would have got in touch by now."
They couple got to know Andrew through internet chatrooms and first met him in the summer of 2004 when he came to Belgium to work.
Sandy said: "Andrew made out that he was an important guy and said he had property in Dubai and Spain.
"When we asked him what he did for a living, he said it was political.
"For example, if Russia wanted to sell steel to China but China didn't want to buy it from Russia, he would set up a company in Belgium to enable Russia to sell the steel to China without China knowing.
"Once he came over with another Scot, who he said was a millionaire, to buy an off-the-shelf company.
"I now believe they were setting up the company for money laundering.
"Andrew liked to give the impression he was into something really big.
"He was never specific about what he was doing, though he mentioned mobile phones a lot.
"He would often fly off at a moment's notice to places like Barcelona and Italy to carry out deals with this other man.
"I think he also went to Eastern Europe
"That is why he made us think he was money laundering.
"When he came to Belgium he set up a bank account here and asked how long it would take to transfer money from Britain. He was told about three days but Andrew and this other man wanted to do it in 24 hours. I think he wanted to transfer as much money as quickly as possible."
Shortly after he arrived in Belgium, the Kelleys introduced Andrew to former model Marijke Vannut, 48.
She left her husband for the Scot and the pair became lovers.
Sandy said: "Andrew could lose abduction but police have still since his disappearance police his temper and was worse when he had a drink. He was a bit of a control freak.
"On one occasion he went round to Marijke's home and threatened to kill her husband. Police were called out and it was not pleasant."
The case is officially one of abduction but police have still not ruled out the possibility that Andrew faked his kidnap.
In the weeks before he vanished he told friends he feared for his life as he knew too much.
He contacted ex-lover Marijke and told her he was going abroad and would not be in touch for while.
In the 10 months since his disappearance police have hit a brick wall in their search for Andrew.
Two TV appeals on Crime-watch did not provide any new leads and a £5000 reward failed to attract a single call.
Yesterday, the man investigating Andrew's disappearance, Det Supt William Prendergast, said: "Someone out there knows the answers and we will get to the bottom of this."
http://www.sundaymail.co.uk/news/tm_headline=drew-was-into-money-laundering&method=full&objectid=18321814&siteid=64736-name_page.html
By Norman Silvester
A FRIEND of missing accountant Andrew Ramsay has broken her silence to reveal he was caught up in the murky world of money laundering.
Sandy Kelley, who owns a guest house in Belgium with her husband George, 65, says Ramsay tried to set up a bogus company in a complex deal involving Chinese and Russian financiers.
The Sunday Mail can reveal that Andrew spoke to the Kelleys three weeks before he vanished to arrange a trip to Belgium with his partner Beverley Sinclair.
Ramsay, 53, has not been seen since he was arrested by two bogus police officers outside his home in Cardonald, Glasgow, in February.
Sandy, who lives in the Belgian town of Borgloon, was quizzed by Strath-clyde Police on a trip home to see relatives in her home town of Welling-borough, near Northampton.
Sandy, 63, and George, both hope Andrew faked his disappearance... but admit they fear the worst.
Ramsay was employed by Glasgow-based mobile phone firm Diginett between July 2004 and April 2005 and worked for them across Europe.
The firm's 40-year-old owner, If takar Iqbal, was arrested in his home in Pollokshields, Glasgow, by Customs officers as part of a £500million VAT fraud probe. He was later released.
A month before his disappearance Andrew was quizzed by Customs officers about his work and told he might be a witness in a future trial.
Sandy said: "Like everyone else we are desperate that this is resolved one way or another. We need to know if he is alive or dead.
"We spoke to him three weeks before he disappeared and he was looking forward to seeing us in March and introducing us to Beverley.
"I am sure that if he was alive he would have got in touch by now."
They couple got to know Andrew through internet chatrooms and first met him in the summer of 2004 when he came to Belgium to work.
Sandy said: "Andrew made out that he was an important guy and said he had property in Dubai and Spain.
"When we asked him what he did for a living, he said it was political.
"For example, if Russia wanted to sell steel to China but China didn't want to buy it from Russia, he would set up a company in Belgium to enable Russia to sell the steel to China without China knowing.
"Once he came over with another Scot, who he said was a millionaire, to buy an off-the-shelf company.
"I now believe they were setting up the company for money laundering.
"Andrew liked to give the impression he was into something really big.
"He was never specific about what he was doing, though he mentioned mobile phones a lot.
"He would often fly off at a moment's notice to places like Barcelona and Italy to carry out deals with this other man.
"I think he also went to Eastern Europe
"That is why he made us think he was money laundering.
"When he came to Belgium he set up a bank account here and asked how long it would take to transfer money from Britain. He was told about three days but Andrew and this other man wanted to do it in 24 hours. I think he wanted to transfer as much money as quickly as possible."
Shortly after he arrived in Belgium, the Kelleys introduced Andrew to former model Marijke Vannut, 48.
She left her husband for the Scot and the pair became lovers.
Sandy said: "Andrew could lose abduction but police have still since his disappearance police his temper and was worse when he had a drink. He was a bit of a control freak.
"On one occasion he went round to Marijke's home and threatened to kill her husband. Police were called out and it was not pleasant."
The case is officially one of abduction but police have still not ruled out the possibility that Andrew faked his kidnap.
In the weeks before he vanished he told friends he feared for his life as he knew too much.
He contacted ex-lover Marijke and told her he was going abroad and would not be in touch for while.
In the 10 months since his disappearance police have hit a brick wall in their search for Andrew.
Two TV appeals on Crime-watch did not provide any new leads and a £5000 reward failed to attract a single call.
Yesterday, the man investigating Andrew's disappearance, Det Supt William Prendergast, said: "Someone out there knows the answers and we will get to the bottom of this."
http://www.sundaymail.co.uk/news/tm_headline=drew-was-into-money-laundering&method=full&objectid=18321814&siteid=64736-name_page.html
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