A European Parliamentary committee Thursday approved far-reaching changes to the EU's rules combating money laundering and terrorist financing, including an amendment that would require nations to publicize corporate owners.
British asset management firms are failing to adequately address their vulnerabilities to money laundering, bribery and corruption, the United Kingdom's chief financial regulator said Thursday.
An agreement by one the nation's largest money transmitters to better share transactional data with investigators has resulted in greater scrutiny, both for the business and its chief competitor.
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.
Calls for a survey of how U.S. banks monitor high-risk accounts are likely to be ignored even if such a review would expose anti-money laundering compliance gaps, say industry experts.
A Miami-based bank is expected to agree to pay between $10 million and $15 million to the U.S. government in the next month for Bank Secrecy Act violations, according to individuals familiar with the matter.
An ousted Tunisian leader's transfer of suspect funds into Western bank accounts highlights the pitfalls financial institutions face when they maintain relationships for foreign political leaders, say analysts.
Growing U.S. financial ties to the Chinese market will likely bring anti-money laundering compliance troubles along with profits, according to consultants and former government officials.
After 11 days of testimony and three days of deliberations, a Texas jury found former House Majority Leader Tom DeLay guilty on Wednesday of laundering nearly $200,000 in illicit corporate donations.
The trial of former U.S. lawmaker Tom DeLay for allegedly laundering campaign funds will likely hinge on whether Texas state prosecutors can prove he attempted to cover up corporate donors, say lawyers.
An intergovernmental group said Wednesday that it was considering asking countries to make tax evasion a predicate crime of money laundering and to issue tougher AML standards on political figures.
Two initiatives to recover assets embezzled by corrupt political leaders will result in banks receiving more subpoenas and data requests from law enforcement, say analysts.
Few small financial firms in the U.K. have adequate anti-money laundering and sanctions compliance programs, including enhanced due diligence controls for high-risk clients, Britain's top financial regulator said Monday.
A Swiss official warns that the United States plans legal action if a deal to hand over UBS account data is blocked, China announces that it has tweaked its counterterrorism laws and Ecuador says it will be off of FATF's blacklist by June, in this week's news roundup.
A U.S. Senate subcommittee called for reforms Thursday to better detect when corrupt foreign politicians hide dirty money in the United States, including the implementation of federal beneficial ownership rules.
The United States has asked Guatemala to extradite former Guatemalan president Alfonso Portillo for allegedly laundering embezzled funds through at least three U.S. bank branches, according to court documents.
We never said compliance professionals had it easy, and 2010 doesn't look to be a year when things will be any better for the anti-money laundering and counterterrorism financing industry.
A U.S. federal district judge Wednesday sentenced two former Bank of China managers and their wives to prison for stealing and laundering more than $485 million.
New York state prosecutors charged a blacklisted Chinese metals dealer Tuesday with illegally circumventing U.S. economic sanctions through shell companies to utilize Manhattan banks.
The former president of Taiwan has left the country's Democratic Progressive Party after reports surfaced that he and several family members are under investigation for money laundering, according to a Friday news report.