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Midweek Roundup: U.K. Regulator Defends Bank Rule Withdrawal, FATF Outlines Terror Finance Trends, and More
printU.K. Prudential Regulation Authority chief Andrew Bailey appeared before British lawmakers to defend the agency's recent withdrawal of a rule that placed the burden on bank executives to prove their innocence in misconduct cases, the Guardian reported. Bailey reportedly argued that the rule risked violating European human rights standards. More Iran's Supreme Leader Ayatollah Ali Khamenei approved the country's agreement to scale back its nuclear program in exchange for relief from Western and U.N. sanctions, according to the Washington Post. More Khamenei stands to benefit considerably from the deal, largely through his control of a secretive organization known as Setad,...
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Swift has informed its clients that more financial institutions have fallen victim to cyberattacks tied to its payment messaging service, Japan is calling for the adoption of new U.N. sanctions against North Korea, and more, in the midweek roundup.
The head of Europol said that money launderers are exploiting Europe's record-levels of human smuggling, Credit Suisse has terminated its onshore booking platform services for clients in Russia, and more, in the midweek roundup.
Syrian President Bashar al-Assad's uncle is under investigation in France on suspicion of tax fraud and money laundering, Pakistan's commerce minister asked bankers to draw up proposals for facilitating transactions to Iran, and more, in the midweek roundup.
The EU extended sanctions imposed in response to Russia's annexation of Crimea and Sevastopol, KPMG resigned as FIFA's auditor, and more, in the midweek roundup.
Former Brazilian President Luiz Inacio Lula da Silva could escape arrest and imprisonment for alleged money laundering, the governor of Bangladesh's central bank resigned after computer hackers managed to steal $81 million, and more, in the midweek roundup.
Japan's Financial Services Agency is expected to propose regulating virtual currencies as it does cash, French officials have completed a 5-year investigation of suspected tax evasion at UBS AG, and more, in the midweek roundup.
FATF gave a largely positive mutual evaluation report on Italy, Transparency International is seeking "social and political sanctions" against FIFA, and more, in the midweek roundup.
The Kremlin has asked the U.S. Treasury Department to produce proof that Russian President Vladimir Putin is corrupt, a U.N. panel advised the Security Council to place travel bans and asset freezes on South Sudan's president, and more, in the midweek roundup.
The U.S. Office of the Comptroller of the Currency is preparing an enforcement action against the Bank of China, Guernsey is looking to raise the cap on AML fines, and more, in the midweek roundup.
Sen. Ben Cardin and other lawmakers will seek to extend the soon-to-expire Iran Sanctions Act for another 10 years, Swiss officials have frozen approximately $80 million of assets linked to 14 FIFA officials, and more, in the midweek roundup.
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China asked the United States to more closely coordinate on terrorist financing cases, Greek police searched a UBS location in Athens for possible evidence of tax evasion, and more, in the midweek roundup.
New York federal jurors found former state Assembly Speaker Sheldon Silver guilty of money laundering, Russian officials plan to circulate a draft U.N. resolution targeting the funding portals of the Islamic State, and more, in the midweek roundup.
Bank of America has cut off its supply of U.S. banknotes to Angola, President Obama signed an executive order imposing asset freezes and visa restrictions against individuals in Burundi, and more, in the midweek roundup.
EU officials plan by June to issue recommendations for reducing the bloc's vulnerability to money laundering, Trinidad and Tobago is at risk of losing its membership in CFATF, and more, in the midweek roundup.
U.N. officials are considering targeted sanctions against leaders in Burundi, Israel's parliament is considering legislation that would expand the definition of "terrorist", and more, in the midweek roundup.
German authorities raided the headquarters of the country's top football association in Frankfurt, regulators in the Netherlands and Dubai have fined Dutch bank ABN Amro $625,000 and $640,000 respectively, and more, in the midweek roundup.
Former U.S. House Speaker Dennis Hastert pleaded guilty to violating federal banking laws by structuring cash withdrawals, residents of China are increasingly using underground banks to transfer funds abroad, and more, in the midweek roundup.
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