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Croatian Oil Company Hit by Record Financial Embezzlement

A court in Zagreb ordered on Monday five people who were arrested over the weekend to remain in detention on suspicion of defrauding Croatia’s main oil and gas company INA of more than a billion Croatian kunas (US$133 million) by reselling the company’s gas abroad for 10 times the purchase price and keeping the difference for themselves.

Experts: Germany Must do More to Combat Money Laundering

Germany’s recent reforms to combat money laundering have received mixed reviews from an international watchdog, citing cross-border cash smuggling risks and lack of coordination among domestic authorities as causes of concern.