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Midweek Roundup: Swiss Bank Targeted by DOJ Tax Evasion Probe, Austria “Softens” on Bank Secrecy, and More
printNPB Neue Privat Bank AG is among at least 14 Swiss financial firms being investigated by the U.S. Justice Department for allegedly helping Americans evade taxes, Bloomberg reported Monday. Credit Suisse Group AG and Julius Baer Group Ltd are among the other Swiss institutions under investigation in a tax probe that has lasted nearly two years. More The largest Bitcoin exchange company, Mutum Sigillum LLC, is accused of operating as an unlicensed money transmitter, Payments Source said Wednesday, citing a Department of Homeland Security (DHS) search warrant filed in the U.S. District Court of Maryland. The court filing accuses the...
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A U.S.-Swiss plan to resolve a tax evasion dispute may absolve Switzerland's government from further action but will prove costly and time-consuming for participating banks, say attorneys.
The United Kingdom could ban bearer shares, the Reserve Bank of India fined 22 banks for AML violations, and more, in the midweek roundup.
A French probe into HSBC has uncovered $5 billion in undeclared assets, HMRC advised U.K-based exchangers of Bitcoin that they do not have to register as money services businesses, and more, in the midweek roundup.
New York District Judge John Gleeson signed off on HSBC's $1.9 billion deferred prosecution agreement, Italian prosecutors have concluded a money laundering investigation of two former Vatican managers and will likely indict, and more, in the midweek roundup.
Former Mexican Governor Andres Granier is accused of money laundering, Pope Francis established a special commission to increase transparency at Vatican Bank, and more, in the midweek roundup.
Austria's central bank suspended its deputy governor following corruption allegations, a group of at least 1,173 shell companies in Russia is alleged to have conducted $24 billion in illegal transactions, and more, in the midweek roundup.
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.
Filipino Sen. Teofisto Guingona plans to introduce a bill that would require casinos in the country to report suspicious activity, the U.S. Treasury Department blacklisted a network of 37 companies, and more, in the midweek roundup.
Canada banned all imports and exports tied to Iran, the European Union agreed to drop an arms embargo on Syrian opposition, and more, in the midweek roundup.
Peruvian ex-President Alejandro Toledo denied allegations that he laundered money through real estate, money launderers are allegedly using Mauritius to evade taxes and illicitly transport funds to India, and more, in the midweek roundup.
The Bank of China closed an account maintained for North Korea's Foreign Trade Bank, the alleged perpetrators behind Estonia's largest ever money laundering scheme have been identified, and more, in the midweek roundup.
French authorities are probing HSBC for its alleged role in aiding tax evaders, the European Union lifted most of its sanctions against Myanmar, and more, in the midweek roundup.
A Miami couple was arrested for alleged money laundering tied to a $35 million fraud scheme, federal prosecutors began jury selection in Austin, TX in a drug money laundering case involving racehorses, and more, in the midweek roundup.
A Guatemalan appeals court upheld a 2011 ruling that cleared ex-President Alfonso Portillo of allegations that he embezzled $15 million, Lithuania needs to boost counterterrorist financing measures and strengthen controls over politically exposed persons, and more, in the midweek roundup.
Mexican cartels are increasingly moving operatives into the U.S. to expand money laundering operations, firms in the United Kingdom have paid over one billion pounds in fines to settle fraud charges since 2007, and more, in the midweek roundup.
Bank secrecy standards in Austria are being put under the microscope, the U.S. Justice Department is seeking information from Liechtenstein on foundations allegedly tied to American tax evasion, and more, in the midweek roundup.
The Reserve Bank of India confirmed that it is investigating three banks for potential money laundering violations, a forthcoming industry survey points to rising compliance salaries, and more, in this midweek news roundup.
The Treasury Department blacklisted North Korea's Foreign Trade Bank, the United Kingdom will ask the EU to blacklist Lebanese group Hezbollah, and more, in the midweek roundup.
Italian authorities arrested 20 individuals for alleged money laundering connected to organized crime, twenty out of 22 men convicted for their roles in one of the biggest bank fraud schemes in Afghanistan's history were given prison sentences, and more, in the midweek roundup.
Midweek Roundup: Switzerland to Limit Cash Payments, Horse Meat Sales Linked to Laundering, and More
Switzerland's Federal Council says it may limit cash purchases of property, jewelry and other assets, Iran appeals European Union sanctions imposed in March, and more, in this midweek roundup.