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Weekly Roundup: New York to Name BNP Paribas Banker in Settlement, Citigroup Considers Clawback for Banamex Fraud, and More
printEuropean Union finance ministers failed again to reach a consensus on a plan to establish automatic information exchanges after Luxembourg reiterated that it would consent to the policy only if non-EU nations agree to the same terms, according to the Associated Press. More Austria arrested a wealthy Ukrainian ally of Vladimir Putin Wednesday at the request of the United States, the Financial Times reported. Dmitry Firtash's arrest is largely seen as a warning from the Obama administration to Russia for its invasion of the Crimean peninsula. More The New York State Department of Financial Services (NYSDFS) could name at least...
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In internal reviews and an ongoing criminal and regulatory investigation, Citigroup employees and Mexican officials have privately voiced concerns that drug traffickers may have infiltrated Banamex's anti-money laundering department, say sources.
With the ink hardly dry on BNP Paribas' guilty pleas, U.S. officials are looking into "a fair amount of conduct" by other financial institutions that could result in formal charges, according to Douglas Leff, assistant special agent in charge of the FBI's New York field office.
BNP Paribas pleaded guilty and agreed to pay nearly $9 billion to settle charges that it knowingly violated U.S. sanctions against four nations despite previous warnings from American officials.