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Weekly Roundup: More Nations Threaten Syrian Sanctions, Treasury Counterterrorism Nominee Advances in Confirmation, and More
printDavid Cohen, the Obama Administration's choice to serve as undersecretary for terrorism and financial intelligence in the U.S. Treasury Department, cleared one hurdle toward his confirmation Thursday with an 18-4 vote by the Senate Banking Committee, according to The Wall Street Journal. More Voting against Cohen were Sens. Mark Kirk (R.-IL) Robert Menendez (D-NJ) Jim DeMint (R-SC) and David Vitter (R-LA). Kirk and Menendez said they wanted assurance from Cohen that he would fully enforce sanctions laws, including the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010. The rift between lawmakers and the Treasury Department over the enforcement of...
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A group of investigative journalists reveal the identities of thousands of suspected tax evaders, U.S. prosecutors increasingly turn to a civil fraud statute to prosecute money launderers, and more, in this week's news roundup.
JPMorgan Chase drops a Milan account for the Holy See, Beijing police freeze nearly $800 million tied to at least six "underground" banks, and more.
Iran's central bank prepares to sue to win back $2 billion in frozen assets, the U.S. Treasury Department blacklists the heads of a money laundering ring based in Panama and Colombia, and more, in this week's news roundup.
The Justice Department launches investigations into three Israeli banks and continues its probe into the financial network of R. Allen Stanford, in this week's news roundup.
Afghanistan arrests two former top bank officials for alleged graft, Taiwan brings corruption charges against a second former president and FATF advises countries on how to evaluate the risks of alternative financial service providers, in this week's news roundup.
President Obama signed a renewal of the Patriot Act into law late Thursday and the U.S. State Department cracked down on international companies for their ties to Iran, in this week's news roundup.
Congressional leaders struck a deal Thursday to reauthorize several controversial powers of the Patriot Act though June 1, 2015, including a provision that allows investigators to seize "tangible" records from financial institutions, the New York Times reported.
The White House announces plans to sanction Libya, the Federal Deposit Insurance Corp. issues two enforcement actions due to Bank Secrecy Act violations, and more, in this week's roundup.
Afghanistan's finance minister welcomes probe into whether he took payoffs from Kabul Bank, Argentina issues 22 new AML rules in response to international scrutiny, and more, in this week's roundup.
The European Commission sets a two month deadline for Germany to fully comply with the Third Money Laundering Directive, a secret report is leaked connecting an Islamic political group and al-Qaida, and more, in this week's roundup.
Weekly Roundup: Italy Investigates Vatican Priests, Afghanistan to Audit All Private Banks, and More
While U.S. regulators are pushing national banks to hire regional Bank Secrecy Act (BSA) officers, some smaller banks have yet to hire a single full-time compliance officer, the U.S. Treasury Department said this week.
The U.S. Justice Department convicts the former head of a New York bank for TARP fraud, FinCEN delays its deadline on mutual fund BSA programs and more in this week's news roundup.
Venezuela announces plans to create a public bond market, 14 individuals charged with providing material support to a terrorist organization, in this week's roundup.
Swiss bankers may be breathing easier after comments from a U.S. ambassador suggested that the United States has no immediate plans to launch new investigations of their institutions for tax evasion.
Russian spies cases end in extradition, Manuel Noriega sent to prison in France, a teddy bear company is used to launder drug money, in this week's roundup.
Canada's financial intelligence unit issued its largest monetary penalty to date in a week when U.S. bank regulators called on financial institutions to be more transparent in their cross-border transactions.
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.
In other AML news this week, the New Zealand government passed an AML bill and the SEC said it has expanded its cooperation with foreign governments in securities fraud investigations.