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Midweek Roundup: Australia Investigates ‘Significant’ Criminal Funds at Western Union, Finra Fines Firm $10,000 for AML Problems, and More
printAustralian law enforcement officials believe that a "significant portion" of the AUD $700 million Western Union moved in the last fiscal year may be criminal proceeds, the Sydney Morning Herald reported Tuesday. Investigators have also identified a "well-known Australian bank" that has remitted millions of dollars on behalf of Balkan organized figures, the newspaper reported. More The Financial Industry Regulatory Authority (Finra) fined Salt Lake City, UT-based ACAP Financial $10,000 and suspended its primary anti-money laundering officer, Gary Hume, for 45 days over the company's failure to investigate suspicious activity between January 2009 and June 2011. Finra also dinged the...
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