Follow the headlines and you'll find an all too common story: the political winds shift, a leader is deposed and a fortune in dirty money is uncovered in a warren of offshore accounts. But why did no one stop the plundering sooner?
The United States should strengthen its efforts to fight money laundering and terrorist financing associated with Afghan opium ahead of a military withdrawal from the nation, U.S. officials said Wednesday.
Ukraine's widespread protests and weakened political stability are likely to prompt nervous investors and corrupt officials alike to move their money abroad, say economic analysts.
A Berlin-based advocacy group said Tuesday that Afghanistan, North Korea and Somalia remained the least trusted nations in the world for the second year in a row.
A proposed Uruguayan law that would permit and regulate recreational marijuana use poses serious legal and regulatory questions for American banks doing business in the region, according to compliance officers and former U.S. attorneys.
U.S. investigators Wednesday disclosed the seizure of $31 million from seven American banks as part of a probe into an alleged Peruvian money laundering network that exploited industrial firms and shell companies.
When Mexico's President Felipe Calderon relinquishes power in December to his successor, he'll leave behind a decidedly mixed legacy in the fight against the country's drug cartels. But U.S. law enforcement agents and other officials worry that Mexico's next leader could do worse, sources say.
Three intergovernmental groups are questioning the effectiveness of anti-money laundering controls meant to curb abuses of corrupt political figures who steal from their countries.
The Federal Reserve issues a cease-and-desist order against Royal Bank of Scotland for AML violations, the Federal Deposit Insurance Corp. hands out three AML-related enforcement actions, and more, in this week's roundup.
Despite public rhetoric about freezing the assets of corrupt dictators, less than three percent of the funds stolen by kleptocrats are ever returned to looted countries, according to Steffen Binder, co-founder of My Private Banking, a research and networking Web site for clients of private banks.
A Russian law that prohibits corporate bribes and raises the ceiling on punitive fines isn't likely to impede businesses from offering illegal incentives to win lucrative contracts, say political observers.
More sensitive diplomatic communiqués leaked by Wikileaks.org, prosecutions against former UBS AG account holders for tax evasion continue, and more, in this week's roundup.
Dozens of U.S. banks along the country's southern border are denying new accounts to wealthy Mexican nationals and corporations because of due diligence troubles caused by drug-related violence in Mexico.
Up to 67 percent of the estimated $859 billion in illicit funds moved out of developing countries between 2002 and 2006 ended up in banks in developed nations, according to a report released Thursday.
A top BCCI investigator spoke with reporter Larissa Bernardes about some of the complex money laundering schemes he encountered during his undercover work.
The U.S. Justice Department continues to seized more than $3.2 million in nearly 400 accounts tied to narcotics dealers, Transparency International published its annual corruption report and more, in this weeks roundup.
More than 100 medical marijuana clinics have seen their accounts closed in the last 18 months by at least three U.S. banks concerned about regulatory repercussions, say cannabis advocacy groups.
Global corruption is antithetical to economic growth, according to Transparency International, an organization known for its yearly publication of the Corruption Perceptions Index, which ranks 180 countries by their levels of corruption.
A federal judge on Friday rejected a request by Manuel Noriega to block his extradition to France, paving the way for the former Panamanian dictator to face 10 years in prison on money laundering charges in the European nation.
Two months before his release from a Miami prison, former Panamanian dictator Manuel Noriega faces possible extradition to France on charges that he laundered more than $3 million there between 1988 and 1989.