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 Bank of England reportedly exerts "strong pressure" on Russia's second largest bank, an arrested Zetas leader's sons tweet incriminating photographs, and more, in this week's news roundup.
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.
U.K. leaders intend to review whether facilitation should be legal again, CFATF warns countries about the risks of Belize, Guyana and Dominica, and more, in this week's news roundup.
An intergovernmental group Tuesday criticized Austria, Spain and the Netherlands for failing to sufficiently investigate and convict individuals and corporations that bribe foreign officials.
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.
Financial institutions operating in the U.K. could be among the first companies fined under a new British anti-bribery law, according to speakers at an anti-money laundering conference in Amsterdam Monday.
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.
The United Kingdom's law enforcement arm said Wednesday that it would not pursue convictions under a new anti-bribery law against companies and individuals with a limited presence in the country.
A stringent new British anti-bribery law will be implemented before the end of the year despite concerns from the business community and the Cameron government, according to the measure's authors.
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.
Senate panel members Tuesday criticized the U.S. Justice Department's enforcement of a U.S. anti-bribery law even as representatives from the commercial sector asked Congress to better shield it from penalties.
U.S. financial institutions and other companies will have additional anti-money laundering and anti-bribery monitoring duties when a new U.K. law takes effect next year, according to a U.K. regulator.
Nigerian politicians deposited millions of dollars obtained through bribes into accounts at some of the U.K.'s most prestigious banks, which subsequently faced no apparent regulatory penalties, a British advocacy group said Monday.
Unbridled corruption, or at least the perception of it, plagues three-quarters of the worlds governments, particularly in nations with endemic poverty and political unrest, according to Transparency Internationals 2006 Corruption Perceptions Index.
More than two-thirds of the 159 countries surveyed by Transparency International are perceived to have serious corruption problems, according to the Berlin-based organizations 2005 Corruption Perceptions Index released this week.
Compliance officers who risk-score countries for money laundering may want to take note of Transparency Internationals Corruption Perception Index, which rates 146 countries in perceived corruption.