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Weekly Roundup: Ex-Guatemalan Leader Sentenced for Laundering, Italy Accuses Bank Association Vice Chairman of Fraud, and More
printFormer Guatemalan President Alfonso Portillo was sentenced to over five years in prison Thursday for laundering $3.5 million in bribery proceeds from the Taiwanese government. Portillo attempted to hide the funds in bank accounts located in Miami, FL and later deposited the proceeds in accounts owned by his former wife and daughter. More The United Nations added terrorist group Boko Haram to its al-Qaida sanctions list Thursday in response to the April kidnapping of 300 girls from a school in northern Nigeria and various terrorist attacks since 2009. The blacklisting subjects the group to an arms embargo and financial restrictions....
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Cartels and terrorist organizations may be exploiting South Carolina's MSBs to launder billions of dollars, authorities charged Guatemalan former Vice President Roxana Baldetti with money laundering, and more, in this week's roundup.
HSBC must pay a $1.1 billion bail after French officials filed criminal tax evasion charges, Greek Prime Minister Alexis Tsipras called on the EU to end its sanctions against Russia, and more, in this week's roundup.
Credit Agricole SA is nearing a final deal with U.S. officials over its alleged sanctions violations, Ukrainian separatists in the country's Donetsk region are in the process of creating their own currency, and more, in this week's roundup.
A new law approved by United Arab Emirates officials enhances the country's AML requirements, Hezbollah sanctions adopted by the U.S. House of Representatives last month could hurt Lebanon's banking sector, and more, in this week's roundup.
M&T Bank Corp. revealed it has spent more than $150 million boosting its AML program, the Asia Pacific Group on Money Laundering will allow North Korea to join the organization as an observer, and more, in this week's roundup.
Russian officials said economic sanctions are threatening the economic well-being of their nation, marijuana distributers sued the IRS for charging them a fee for paying taxes in cash, and more in this week's roundup.
The Supreme Court nears a ruling on the long-running Arab Bank case, FATF spares Afghanistan from its blacklist, and more, in this week's news roundup.
Japanese legislators will not impose controls on the virtual currency market for the time being, Malaysian officials investigated some $4 billion for possible ties to money laundering between 2011 and 2013, and more, in this week's roundup.
A Florida debt broker was charged with bribery and money laundering, Discover Financial Services entered into a consent order with the FDIC for BSA deficiencies, and more, in this week's roundup.
British regulators are struggling to show that they can be tough on financial institutions accused of compliance lapses, the U.S. renewed exemptions from sanctions for countries still buying Iranian oil, and more, in this week's roundup.
Venture capitalists have invested nearly $11 million in Bitcoin businesses in Canada since the currency's inception in 2009, U.S. authorities are allegedly seeking more than $10 billion from BNP Paribas SA to settle charges that the bank violated sanctions, and more, in this week's roundup.
Criminals are laundering $140 million annually through bets placed on sporting events, Dutch authorities seized approximately 10 million euros in assets during a money laundering investigation, and more, in this week's roundup.
The New York State Department of Financial Services will begin testing how prepared banks are for cyber-threats, Brazil's central bank approved legislation that allows individuals to conduct financial transactions via their cell phones, and more, in this week's roundup.
The UAE's Federal National Council approved legislation requiring cross-border declarations of cash, the U.S. Treasury Department will view 2014 and 2015 as a "transition period" when enforcing the Foreign Account Tax Compliance Act, and more, in this week's roundup.
Brazil's Supreme Court ruled that a congressional inquiry into purported corruption by state-owned Petroleo Brasileiro SA can move forward, Southern Italy's organized crime groups are expanding their commercial reach, and more, in this week's roundup.
AUSTRAC revoked the license of a money remitter for AML deficiencies, Belgium will sign an intergovernmental agreement with the U.S. next week to implement FATCA, and more, in this week's roundup.
The Bank of England reportedly exerts "strong pressure" on Russia's second largest bank, an arrested Zetas leader's sons tweet incriminating photographs, and more, in this week's news roundup.
Belarus' House of Representatives advanced an anti-money laundering bill, a MoneyGram and Western Union agent was sentenced to 15 years in prison for laundering fraud proceeds, and more, in this week's roundup.
The West's financial ties to Russia have given countries pause in considering further sanctions, a Roman judge dropped a money laundering case against the former head of the Vatican Bank and more, in this week's news roundup.
The European Union added 12 names to a blacklist of Russians and Ukrainians subject to asset freezes and travel bans, FATF removed Mexico from its mutual evaluation follow-up process, and more, in this week's roundup.