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.
The expected approval of amendments to the EU's proposed Fourth Anti-Money Laundering Directive will shine greater light on tax evaders and financial criminals hiding behind shell companies and trusts, according to Judith Sargentini, a Dutch member of the European Parliament.
European parliamentary members are set to require countries to publish registries naming the beneficial owners of privately-held corporations and trusts as part of a broad overhaul to the EU's anti-money laundering rules.
An EU plan approved Thursday that could force banks in member-states to open accounts for most applicants would complicate anti-money laundering compliance efforts, according to critics.
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.
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. Justice Department is seeking $483 million in forfeitures related to an alleged trade-based money laundering scheme that funded Hezbollah through the sale of American cars in West Africa.
U.S. lawmakers Thursday questioned how a blacklisted Lebanese terrorist organization works with political leaders and narco-traffickers in Latin America.