News
Midweek Roundup: U.K. to Target Trade Finance Laundering, Citibank Goes to Baghdad, and More
printSwiss banks will be allowed to turn over data on accounts for American clients that have been transferred to other financial institutions as well as the identities of bank staff and lawyers as part of a proposed plan to cooperate with the U.S. Justice Department. Swiss officials said Wednesday that the financial institutions, which are the subject of a U.S. probe into tax evasion, can apply for individual permission to settle American demands. More The United Kingdom's Financial Conduct Authority (FCA) is considering taking regulatory action against banks that fail to stem money laundering via trade finance deals, the agency...
TO READ THE FULL STORY
Subscribe
Learn More
Related News
Bangladeshi officials are set to file tax evasion charges against a Nobel Peace Prize winner, the NCUA issued an enforcement action against North Dade Community Development Federal Credit Union for BSA violations, and more, in the midweek roundup.
Two men in a Miami federal court pleaded not guilty to terrorist financing charges, Singapore strengthened its counterterrorist financing regime, and more, in the midweek roundup.
Sixteen of HSBC's Irish clients have agreed to settlements with Ireland's tax authority for hiding millions of dollars in taxable assets, a former executive assistant at Citibank was sentenced to over four years in prison for money laundering, and more, in the midweek roundup.
The Swiss Federal Criminal Court stopped the transfer of banking data to Italy on the grounds the information sharing violated the rights of nine people accused of money laundering, the U.S. Treasury Department designated two Mexican nationals for their ties to Los Zetas cartel, and more.
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.
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 largest Bitcoin exchange company is accused of operating as an unlicensed money transmitter, Jersey will amend AML legislation to comply with revamped Financial Action Task Force standards, 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.