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Weekly Roundup: German Lawmakers Approve Plan to Punish Banks that Aid Tax Dodgers, Barclays Reaches Deal with Somali MSB, and More
printEike Batista, who was the richest man in Brazil for most of the last decade, could face over 20 years in prison after federal investigators accused him of insider trading, market manipulation and money laundering, Reuters said, citing reports by Brazilian media. More Separately, Brazil's $4.5 billion investigation of a suspected money laundering ring has drawn attention to the informal money changers known as doleiros, Bloomberg said. More Barclays Plc and Somali remitter Dahabshiil settled the terms of a legal dispute over whether the bank could shut down its account, according to The Wall Street Journal. Dahabshill, which accused Barclays...
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Commerzbank may pay more than $1 billion as part of a DPA to resolve AML and sanctions violations, Swiss lawmakers passed a bill that requires banks to classify sporting officials as PEPs, and more, in this week's roundup.
A U.S. appeals court reversed a lower court's decision to reject a whistleblower's lawsuit against JPMorgan Chase, Europol has warned that Russian gangs are planning to launch a $1 billion cyber heist on global financial institutions, and more, in this week's roundup.
Argentina's tax enforcer raided the offices of HSBC in Buenos Aires as part of a money laundering probe, Canada is in the processing of creating a single, comprehensive sanctions list, 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.
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.
The Camorra crime syndicate is expanding in Malta, Romania, Corsica and other regions of Italy, Switzerland approved a law that will ease asset freezes related to corrupted politically exposed persons, 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.
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.
Singapore will bolster client identification requirements for exchangers of digital currency, Hong Kong's fifth richest man was sentenced to five years in jail for bribery and money laundering, and more, in this week's roundup.
Iran will soon receive its second tranche of funds once frozen under U.S. sanctions, the owner of the English soccer club Birmingham City was sentenced to six years in jail for money laundering, and more, in this week's roundup.
The FDIC handed out two consent orders for BSA violations, China's central bank imposes AML controls on its Shanghai Free Trade Zone, and more, in this week's roundup.
An influential Senate subcommittee will hear testimony on tax evasion through offshore banks, Switzerland agrees to follow automatic data exchange standards and more, in this week's news roundup.
Guyana failed to approve AML legislation ahead of this week's FATF plenary, Fiji is expanding the powers of its law enforcement by allowing phone tapping in order to boost its fight against money laundering, and more, in this week's roundup.