A group of investigative journalists reveal the identities of thousands of suspected tax evaders, U.S. prosecutors increasingly turn to a civil fraud statute to prosecute money launderers, and more, in this week's news roundup.
The Philippines Senate delayed the approval of amendments to its principal AML law despite pressure from FATF to upgrade its regime, convicted Ponzi schemer Allen Stanford lost his bid for a new trial after being convicted earlier this month, and more, in this week's roundup.
JPMorgan Chase drops a Milan account for the Holy See, Beijing police freeze nearly $800 million tied to at least six "underground" banks, and more.
The OCC dings three banks for AML problems, Argentina publishes new rules related to corruption in soccer clubs, and more in this week's news roundup.
Efforts by the United Nations to censure Syria fell through, financial institutions in India are using anti-money laundering compliance as a benchmark to measure senior management performance, and more, in the midweek roundup.
Iran said it is considering a preemptive embargo of oil exports to the European Union, Bangladesh is tightening up its AML controls, and more, in the week's roundup.
The United Nations is considering imposing tougher financial restrictions on Eritrea, a think tank in Ghana says 60 percent of all remittances in the country are sent through illegal channels, and more, in this week's roundup.
The Financial Crimes Enforcement Network warns about the risks involving Syrian PEP transactions, New Zealand issues new AML regulations, and more, in this week's roundup.
Switzerland freezes former Egyptian President's funds, IRS grants tax evaders another opportunity to come clean, and more, in this week's roundup.
New York State's Governor Andrew Cuomo reveals plans to change the state's financial regulatory system, the OTS slaps Security Federal Savings Bank with a cease and desist order, and more, in this week's roundup.
Compass Bank became the latest to be fined by the U.S. Treasury Department for sanctions violations and it wasn't a good week for anti-money laundering efforts in Nigeria.
The U.S. Treasury Department penalizes a New York bank for transactions tied to Cuba, Italy arrests 300 in a mafia crackdown and the Asia Pacific Money Laundering Group warns of laundering through carbon emissions schemes, in this week's news roundup.
U.S. and European relations figured prominently in the news this week. On Thursday, Swiss legislators approved an agreement allowing U.S. access to data on nearly 4000 UBS AG account holders and Tuesday, the European Commission adopted a draft agreement to exchange terror information with the U.S.
U.S. efforts to stifle al-Qaida's finances are paying off and Swiss financial institutions filed a record number of SARs in 2009, in this week's news roundup.
A Milwaukee-based company sues American Express for failing to block illegal transactions and Royal Bank of Scotland discloses that the U.K. Financial Services Authority is investigating it, in this week's news roundup.
Canada's financial intelligence unit issued its largest monetary penalty to date in a week when U.S. bank regulators called on financial institutions to be more transparent in their cross-border transactions.
A Miami judge is convicted for using a shell company to launder his profits from a public fraud scheme, the Philippines fines a bank for poor suspicious transaction reporting and more, in this week's roundup.
In other AML news this week, the New Zealand government passed an AML bill and the SEC said it has expanded its cooperation with foreign governments in securities fraud investigations.