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Weekly Roundup: Germany Launches Investigation Into Credit Suisse Clients, Britain Eyes Three ALSTOM Execs for Bribery and Laundering, And More
printWith the $536 million penalty for sanctions violations still fresh in the minds of compliance officers, Credit Suisse faces new problems. On Sunday, Reuters reported that Germany is currently investigating 1,100 Credit Suisse clients for suspected tax evasion violations. More The query was prompted by suspicious client data found on a computer disk and the successful U.S. led investigation of UBS, according to Reuters. UBS agreed to pay $780 million in February for helping 17,000 U.S. citizens evade paying taxes on offshore revenue. More On Wednesday, the United Kingdom's Serious Fraud Office (SFO) announced the arrest of three ALSTOM board...
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As Germany moves forward with plans to streamline account openings for hundreds of thousands of refugees, criminals are taking steps to exploit the process, a financial crime expert said Wednesday.
Regulators from the United States should directly consult with German counterparts about fines they plan to impose on German banks, an anti-money laundering supervisor at Germany's financial watchdog said.
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.
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.
Zambian police questioned the spouse of Zambia's former president about alleged money laundering, Malaysia is installing airport and border scanners meant to curb bulk cash smuggling, and more, in this week's roundup.
The FDIC asked financial institutions to proceed with caution when dealing with third-party payment processors, the owners of a Los Angeles company that sold stuffed toys were sentenced for helping drug traffickers launder money, and more, in the midweek roundup.
Iran's central bank prepares to sue to win back $2 billion in frozen assets, the U.S. Treasury Department blacklists the heads of a money laundering ring based in Panama and Colombia, and more, in this week's news roundup.
A U.S. Appeals Court affirmed the convictions of five former Islamic charity leaders previously found guilty of sending millions to Hamas, OFAC launched a new Web page to help users quickly scan through the Specially Designated Nationals and Blocked Persons list, and more, in this week's roundup.
SEC warns broker-dealers on the money laundering risks of master/sub-account trading arrangements, a Swiss official calls on the UN to blacklist a former Tunisian president and his aides, and more, in this week's roundup.
Credit Suisse Group AG's $205 million settlement with Germany over allegations that it aided tax evaders is likely to speed up its negotiations with U.S. officials looking into similar violations.
The Justice Department launches investigations into three Israeli banks and continues its probe into the financial network of R. Allen Stanford, in this week's news roundup.
India proposes new anti-money laundering measures, two brothers are indicted in Miami over alleged laundering of drug proceeds, 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.
Afghanistan arrests two former top bank officials for alleged graft, Taiwan brings corruption charges against a second former president and FATF advises countries on how to evaluate the risks of alternative financial service providers, in this week's news roundup.
President Obama signed a renewal of the Patriot Act into law late Thursday and the U.S. State Department cracked down on international companies for their ties to Iran, in this week's news roundup.
Dubai fines the UAE arm of E-Trade, and a source familiar with the U.S. Justice Department investigation of HSBC says that prosecutors may target individual bankers, in this week's news roundup.
The White House targets top Syrian officials for human rights violations as the United Nations mulls naming countries that haven't enforced Libyan sanctions, in this week's news roundup.
Antiguan officials are questioning the U.S. decision to shut down an online gambling Web site, and Indonesia investigators say that potential AML violations at Citibank may be tied to an embezzlement case, in this week's news roundup.
The OTS dings an Indiana bank for BSA violations as RBS gets an extension on its deal with the U.S. Justice Department, in this week's news roundup.
The Internet Gambling Regulation, Consumer Protection and Enforcement Act is introduced by Representative John Campbell, Antigua & Barbuda defends its AML regime after publication of State Department report, and more, in this week's roundup.