New U.S. sanctions intended to block a blacklisted Lebanese Shiite group from accessing the global financial system will likely raise compliance risks for lenders with operations in Lebanon and Europe, say analysts.
The U.S. House of Representatives Tuesday unanimously passed a bill aimed at foreign banks that provide financial services to Hezbollah, an Iran-backed, Lebanon-based Shiite militant group.
A bipartisan bill targeting banks that offer financial services to Hezbollah is likely to garner broad political support among U.S. lawmakers, according to advocates of strong counterterrorist measures.
A European Union decision to impose sanctions on Hezbollah's military wing will also compel financial institutions in Europe to comb their accounts for links to the group's social services and fundraising arms.
A transactional data handover mandated under a $102 million settlement disclosed Tuesday between the U.S. Justice Department and a defunct Beirut bank will likely lead to new financial crime investigations.
With its next presidential election less than a week away, Venezuela has more than an unplanned transition in leadership to sort out. It has, once again, a growing problem with capital flight.
As U.S. officials work to shield American prepaid cards from abuse by financial crooks, foreign-issued stored value products remain a relatively easy avenue to move money into the United States anonymously.
A decision by the U.S. Second Circuit Court of Appeals affirming sanctions against Jordan's largest bank for not turning over data on suspicious accounts could leave some financial institutions with an unwanted choice, say attorneys.
The U.S. Treasury Department Friday fined a Sioux Falls, SD bank branch $10 million for not properly reporting instances of suspected structuring and terrorist financing.
Increases in the rates that U.S. states tax cigarette purchasers has led to a rise in tobacco smuggling by organized crime groups and terrorist financiers, say governmental officials.
U.S. officials have launched a criminal investigation after linking data seized at Osama bin Laden's compound in Abbottabad, Pakistan to a Bank Secrecy Act report, counterterrorism investigators said Monday.
The U.S. Justice Department seized $150 million held for a Lebanese financial institution at accounts at five U.S. banks, as part of a crackdown on a purported terrorist financing network.
A congressional panel Thursday approved a measure requiring the White House to publicly report on the financial networks used by Iran and Hezbollah in South America to evade U.S. financial sanctions.
The U.S. Treasury Department's ability to freeze the funds of suspected terror financiers without a warrant is likely curtailed to emergency circumstances under a court order handed down last week.
Lawmakers are asking the U.S. Justice Department to clarify how it will prosecute individuals and groups that aid terrorist organizations, and whether those cases could involve innocent charity groups.
U.S. efforts to clamp down on terror financiers have been largely a success, a federal official told American lawmakers at a hearing in downtown Manhattan Tuesday.
The Senate Thursday named David Cohen the nation's top sanctions official after legislators agreed to end a standoff over the U.S. Treasury Department's implementation of financial measures aimed at Iran.
Congressional leaders called for the U.S. State Department to deem Venezuela a State Sponsor of Terrorism Friday for allegedly supporting Iran's nuclear weapons efforts and a blacklisted South American separatist group.
A federal court's dismissal of a two-year old lawsuit against five Lebanese banks for allegedly providing financial services to Hizbollah could impact lawsuits against other banks facing similar cases.
Four Canadians are suing the Montreal branch of Lebanese-Canadian Bank, alleging that the institution knowingly provided financial services to Hizbollah, an organization blacklisted internationally for terrorism.