The resounding victory Thursday of Britain's Conservative Party will mean modest tweaks rather than sharp changes to the U.K.'s fight against financial crime in the coming five years, say analysts.
As U.S. officials and bankers debate the merits and drawbacks of an expected $10 billion sanctions settlement with BNP Paribas, their French counterparts are offering a more unified response: outrage.
The West's financial ties to Russia have given countries pause in considering further sanctions, a Roman judge dropped a money laundering case against the former head of the Vatican Bank and more, in this week's news roundup.
In announcing sanctions against Russian politicians and one bank Thursday, U.S. officials made clear that American financial institutions should prepare for more, and soon.
The financial clearing subsidiary of Deutsche Börse AG will pay the U.S. Treasury Department's sanctions enforcer $152 million for holding money in New York-based accounts on behalf of Iran's central bank.
The chairman of a Senate committee vowed Thursday to block additional sanctions against Iran in an effort to protect last month's multilateral accord to suspend portions of the country's nuclear program.
The Royal Bank of Scotland Plc will pay federal and state regulators $100 million to settle charges that it knowingly violated U.S. economic sanctions against Cuba, Myanmar, Sudan and Iran.
Amid all of the political rhetoric and bombast that accompanied television coverage of the 16-day government shutdown last month, one question never seemed to get any airtime: what did it all mean for the financial compliance industry?
JPMorgan Chase launches AML SWAT team as the bank's legal costs mount, Turkey blacklists over 350 entities in an effort to comply with United Nations sanctions, and more, in this week's news roundup.
Federal officials will weigh whether financial institutions can bank medical marijuana shops, New York's financial regulators asks two financial consultancies for data and more, in this week's news roundup.
Germany's BaFin is reportedly investigating potential AML violations by Deutsche Bank, a U.K. court could order the British government to pay millions to compensate a blacklisted Iranian bank, and more, in this midweek roundup.
The U.S. House of Representatives Wednesday approved legislation that would limit White House-granted waivers to nations that purchase oil from Iran under a 2011 sanctions law.
Italian prosecutors seize $10.5 billion from one of Europe's wealthiest families, a judge questions HSBC's agreement with the U.S. Justice Department, and more, in this week's news roundup.
The U.K.'s planned new regulator of banks and other financial institutions would impose tougher oversight than its predecessor, a series of proposals for the agency's forthcoming operations handbook show.
A cease-and-desist order disclosed last month against Scotland's largest bank points to compliance troubles that are more widespread than those outlined in a 2010 settlement that cost the institution $500 million, say industry insiders.
The United Kingdom's chief financial regulator is set to announce next week a multi-million pound monetary penalty against a bank for weak anti-money laundering controls, according to an individual familiar with the matter.
A new British bank regulator that will assume the Financial Services Authority's oversight duties is unlikely to tighten anti-money laundering compliance regulation for financial institutions, say consultants.
Britain's top banking regulator more than doubled its annual number of anti-money laundering monetary penalties in 2010 and fined financial institutions 2 million more pounds for related violations than in 2009.
The Royal Bank of Scotland will pay the United States $500 million over Bank Secrecy Act and sanctions violations committed by the now defunct ABN Amro, U.S. officials said Monday.
The United Kingdom's chief financial regulator is investigating the Royal Bank of Scotland Group for potential compliance violations of U.K. anti-money laundering rules, the bank disclosed Wednesday.