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Midweek Roundup: U.K. Parliament Committee Recommends Jail Time for Senior Bankers, British Court Drops Sanctions on Iranian Bank, and More
printA controversial U.S. surveillance program contributed to the arrest of Kansas City man who planned to bomb the New York Stock Exchange but was later convicted of bank fraud, money laundering and providing material support to al-Qaida, Reuters reported. Intelligence gathered under the program also led to the conviction of four men-two of whom ran a money services business-for providing funds to a blacklisted Somali militant group. More A British parliamentary committee recommended that senior bankers should be held more accountable for bank's violations of anti-money laundering and rate-rigging rules, the Associated Press said. The committee recommended prison sentences for...
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The Royal Bank of Canada is closing its wealth management offices in Brazil, Chile and other South American nations, Hong Kong's FIU received more than 100 STRs each day in 2014, and more, in the midweek roundup.
Two U.S. banks were targeted by regulators for BSA issues, Wells Fargo Advisors faced a Finra probe for AML problems, and more, in the midweek roundup.
Britain's National Crime Agency is launching a coordinated crackdown on money laundering in the City of London, the EU Commission advanced proposals to member-states on deeper sanctions against Russia, and more, in the midweek roundup.
The FBI is probing software company Ebix Inc. for suspected money laundering, a group of 76 U.S. senators urged President Obama to implement tougher sanctions against Iran, and more, in the midweek roundup.
Sixteen of HSBC's Irish clients have agreed to settlements with Ireland's tax authority for hiding millions of dollars in taxable assets, a former executive assistant at Citibank was sentenced to over four years in prison for money laundering, and more, in the midweek roundup.
The United Kingdom could ban bearer shares, the Reserve Bank of India fined 22 banks for AML violations, and more, in the midweek roundup.
A French probe into HSBC has uncovered $5 billion in undeclared assets, HMRC advised U.K-based exchangers of Bitcoin that they do not have to register as money services businesses, and more, in the midweek roundup.
New York District Judge John Gleeson signed off on HSBC's $1.9 billion deferred prosecution agreement, Italian prosecutors have concluded a money laundering investigation of two former Vatican managers and will likely indict, and more, in the midweek roundup.
Former Mexican Governor Andres Granier is accused of money laundering, Pope Francis established a special commission to increase transparency at Vatican Bank, and more, in the midweek roundup.
Despite having global standards in place for decades and financial institutions spending "an absolute fortune" on compliance, the international anti-money laundering effort is failing, according to a British official.
The U.S. Treasury Department sanctioned four Lebanese nationals for terrorist ties, the EU is looking to step up its fight against tax evasion by expanding the automatic exchange of information between member states' tax administrations, and more, in the midweek roundup.
Filipino Sen. Teofisto Guingona plans to introduce a bill that would require casinos in the country to report suspicious activity, the U.S. Treasury Department blacklisted a network of 37 companies, and more, in the midweek roundup.
Canada banned all imports and exports tied to Iran, the European Union agreed to drop an arms embargo on Syrian opposition, and more, in the midweek roundup.
Peruvian ex-President Alejandro Toledo denied allegations that he laundered money through real estate, money launderers are allegedly using Mauritius to evade taxes and illicitly transport funds to India, and more, in the midweek roundup.
The largest Bitcoin exchange company is accused of operating as an unlicensed money transmitter, Jersey will amend AML legislation to comply with revamped Financial Action Task Force standards, and more, in the midweek roundup.
The Bank of China closed an account maintained for North Korea's Foreign Trade Bank, the alleged perpetrators behind Estonia's largest ever money laundering scheme have been identified, and more, in the midweek roundup.
French authorities are probing HSBC for its alleged role in aiding tax evaders, the European Union lifted most of its sanctions against Myanmar, and more, in the midweek roundup.
A Miami couple was arrested for alleged money laundering tied to a $35 million fraud scheme, federal prosecutors began jury selection in Austin, TX in a drug money laundering case involving racehorses, and more, in the midweek roundup.
A Guatemalan appeals court upheld a 2011 ruling that cleared ex-President Alfonso Portillo of allegations that he embezzled $15 million, Lithuania needs to boost counterterrorist financing measures and strengthen controls over politically exposed persons, and more, in the midweek roundup.
Mexican cartels are increasingly moving operatives into the U.S. to expand money laundering operations, firms in the United Kingdom have paid over one billion pounds in fines to settle fraud charges since 2007, and more, in the midweek roundup.