Showing posts with label Finland. Show all posts
Showing posts with label Finland. Show all posts
on Saturday, June 16, 2012
An international organization engaged in duplicating bank cards has been dismantled in an operation involving the arrest of 178 people in 14 countries, Spanish police said Tuesday. The ring, which made off with more than 20 million euros ($24.5 million), also committed other crimes including robbery, extortion, sexual trafficking and money laundering.

The investigation, directed by Spain’s National Court, was launched two years ago in the Mediterranean city of Valencia, where police detected several people forging bank cards to withdraw money from automatic teller machines or to make purchases.

Police discovered that the ring had subgroups based in 14 different countries, each led by an individual who alone had contact with the kingpins.

In Spain, 76 people have been arrested, 120,000 card numbers were made inoperative and 5,000 duplicated cards were seized, while police dismantled six workshops where cards were being copied.

In Romania, 23 searches resulted in 16 arrests, while in France the operation was carried out in three phases that led to 30 arrests and nine searches.

In Italy, two searches ended with seven people under arrest and 3,100 duplicated cards seized.

Another 16 people were taken into custody in Germany, including a man suspected of being one of the most important technicians for creating card-duplicating devices.

Three members of the gang were nabbed in a three-step operation in Ireland, while in the United States another eight people were arrested.

And thanks to information provided by the Spanish police, two suspects were arrested in Australia, another two in Sweden and Greece, three in Finland and four in Hungary.

on Saturday, May 19, 2012
More than 250 State officials and representatives from civil society and business are in Vienna on Monday for an Organization for Security and Cooperation in Europe (OSCE) conference on public-private partnerships (PPPs) in combating terrorism.

The two-day conference organized by the OSCE Action against Terrorism Unit will focus on public-private co-operation, including with the media, to counter violent extremism, and on PPPs to protect critical infrastructures and major events against terrorist attacks, as well as to block channels for terrorist financing, according to an OSCE press release.

Ambassador Antti Turunen, the Permanent Representative of Finland to the OSCE, said: "Public-private partnerships can play an essential role in the fight against terrorism, and the OSCE is committed to promoting co-operation between states, the business community and civil society to suppress terrorist financing, protect against terrorist attack and curb radicalization and violent extremism that lead to terrorism."

Participants of the conference will exchange ideas and information, discuss and further explore the potential for concrete public-private co-operation in countering terrorism within the OSCE region.

The conference is organized with financing from Spain, the United States, and Russia.  

Editor: Mu Xuequan

Source: Xinhua
on Monday, May 14, 2012
Finland is taking steps to more effectively deal with terrorism and money laundering used to finance terrorist activities.

The government is to present Parliament with new legislation to prevent money laundering that can be more widely applied than present law.

Current laws require banks, insurance companies, pawn shops and real estate dealers, among others, to report any suspicions of money laundering.

New legislation will also include companies offering tax advisory and financial management services, as well as distrainers and bankruptcy ombudsmen. They will also be required to watch for any indications of money laundering or the financing of terrorism and to report to the proper authorities.

The same reporting requirement will apply to all merchants who accept more that 15,000 euros in cash payment from customers. Confidentiality regulations governing taxation will be eased so that tax officials can, if needed, report on all of the financial transactions of anyone suspected of money laundering.

The changes will bring Finnish law into line with an EU directive on money laundering. The draft legislation still requires passage by Parliament.

http://www.amlosphere.com/europe/legislation/finland-upgrading-anti-terrorism-and-aml-law.html
on Saturday, May 12, 2012
Finland's National Bureau of Investigation (NBI) has again this year received a record number of reports of suspected money laundering. According to the national Security Police, there may be individuals in the country involved in the financing of terrorism.

Finland has not experienced any terrorist actions, nor do officials consider Finland a probable target of terrorist attacks.

"The financing of terrorism is one of our priorities within the Security Police. The financing of terrorism is a global phenomenon. For example, at this moment there are investigations under way in Sweden and Norway, and as officials we must be realistic that this could be possible in Finland, too," says Lasse Anttila of the Security Police.

In addition to intelligence activities by the Security Police, the National Bureau of Investigation keeps a sharp watch on suspicious movements of money. THE NIB receives reports from a number of sources including banks and currency exchange offices. The number of reports of suspicious transactions has been on the rise.

"Listings can be of the names of companies and of individuals, and joint political decisions have been made about these on the UN and EU level," points out Olli Kolstela, Head of the NIB's Money Laundering Clearing House.

Several incidents a year involving names on the international list come under scrutiny each year, but so far have not led to any full-blown criminal investigations in Finland.

Source: YLE
on Monday, May 7, 2012
The Finance Ministry is stepping up efforts to prevent the financing of terror activities and the laundering of criminal revenue, working to map the course of Kurdistan Workers’ Party (PKK) financing in Scandinavian countries.

In recent days, the Finance Ministry’s Financial Crimes Investigation Board (MASAK) and Revenues Administration (GİB) have stepped up their efforts to map the financial traffic of the outlawed PKK. MASAK officials say that efforts to expand intelligence on PKK financing in Scandinavian countries such as Switzerland, Norway, Finland and Denmark picked up speed with meetings toward the end of 2009. In 2010, Turkish authorities are aiming to reach an agreement with these nations that will bring an end to money laundering and fundraising for the terrorist group in these nations.

The Scandinavian nations are a focal point of many PKK financial activities, MASAK says, and during the year Turkey aims to gather detailed information on the money trail through these countries. Two years ago, a mutual memorandum was signed between MASAK and Swiss Confederation authorities aiming to prevent money laundering and the financing of terrorism. Within the framework of that memorandum, an agreement on double taxation between Norway and Turkey was revised last week. The agreement aims to prevent tax loss and fraud in mutual commercial relations by enabling the exchange of information between institutions to that end.

The Finance Ministry is also planning changes to the Bylaws on Precautions to Prevent Money Laundering and Financing of Terrorism. The changes drafted by the ministry include changes to the information required when performing electronic money transfers, eliminating the different requirements for domestic and international electronic transfers. In addition to the current requirement that the sender of money provide a Turkish Republic identification number, passport number and tax identification number, to bring this up to the international standard, an address or date and place of birth will also be required.

Source: Today's Zaman
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/
on Tuesday, December 19, 2006
15/12/2006 by Carla Moore

Nokia Siemens Networks will start operations in 1Q 2007, not in January 2007 as originally planned.

Communications technology companies Nokia and Siemens announced in a press release that the planned merger to create the new company Nokia Siemens Networks has been pushed back to 1Q 2007 due to the corruption and money laundering scandals that are currently plaguing Siemens. Last month, German authorities launched an investigation into €200m in suspicious transactions and several Siemens employees have been arrested in connection with the scandal.

Closing will be subject to an agreement between Nokia and Siemens on the results and consequences of a Siemens compliance review. This adjustment is an addition to the previously agreed closing conditions. Nokia will participate actively in the review, which is expected to be performed during the first quarter 2007.

Nokia and Siemens have also agreed that the results of the compliance review will be used to develop a compliance program which will be implemented from the start of Nokia Siemens Networks operations.

http://www.digitalmediaasia.com/default.asp?ArticleID=20525
Nokia reportedly will independently examine the charges against Siemens AG

By Dave Gardner
InformationWeek

Dec 15, 2006

The ongoing corruption investigation of Siemens AG is spreading in scope and magnitude, as Siemens and Nokia Corp. said they will delay the merger of their telecommunications equipment operations until they get to the bottom of the corruption charges.

Originally scheduled to be consummated in January, the firms announced Thursday that they expect to launch their Nokia Siemens Networks company later in the first quarter, after the planned conclusion of the corruption investigation. According to a published report in Finland's Helsinginsanomat, Nokia will now examine the corruption charges itself.

Several former and current Siemens managers have been arrested by German prosecutors on charges of setting up secret and phony bank accounts. Earlier this week, Siemens said the amount of suspicious transactions had nearly doubled, to more than 420 Euros ($556 million), as the dragnet increased.

The combined Siemens-Nokia firm would have revenues of about $21 billion, making the combined company the third-largest supplier of equipment to telecom service providers. Alcatel-Lucent of France and Telefon AB LM Ericsson of Sweden are ranked higher in telecom sales.

The corruption charges against Siemens have been escalating for six months, after an initial raid by German police on Siemens offices.

http://www.informationweek.com/news/showArticle.jhtml?articleID=196700221&subSection=Breaking+News