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Weekly Roundup: Germany Warns on Argentina Risks, U.S. Indicts Hawaladar Tied to Failed Manhattan Attack, and More
printGermany's financial regulator, Bafin, is asking financial institutions to use "heightened care" when handling transactions involving Argentina, Bloomberg reported Wednesday. In a letter, the agency cited an Oct. 22 mutual evaluation by the Financial Action Task Force (FATF) that found Argentina noncompliant with 19 of the group's 49 recommendations. FATF said in the evaluation that the Latin American country had limited customer identification and suspicious transaction reporting requirements. More On Friday, the U.S. Treasury Department's Office of the Comptroller of the Currency (OCC) disclosed a consent order against Atlanta, GA-based United Americas Bank. The agency said that the bank had...
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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.
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.
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.
Bank Julius Baer acknowledges that it is the subject of a U.S. tax evasion investigation, four individuals allegedly involved in a $300 million money laundering scheme are under investigation by Kuwaiti authorities, and more, in this week's roundup.
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.
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.
Congressional leaders struck a deal Thursday to reauthorize several controversial powers of the Patriot Act though June 1, 2015, including a provision that allows investigators to seize "tangible" records from financial institutions, the New York Times reported.
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.
Wells Fargo is the target of a lawsuit filed in the Southern District Court of Florida that accuses a Miami Wachovia Bank branch of failing to perform adequate customer due diligence.
On Monday, Wikileaks founder Julian Assange said that his organization will publish tens of thousands of documents leaked from a major U.S. bank implicating the institution in "flagrant violations" of U.S. law. The leak of the cables, which began last Sunday, also sparked debate about Argentina.
Several large U.S. banks have closed embassy accounts potentially linked to corruption, a Russian official accuses a U.S. charity of terrorist ties and more, in this week's news roundup.
U.S. and Mexican officials announce the findings of a study on how drug money moves between the two countries and the European Commission tells France it could face monetary penalties for not complying with the EU's Third Directive, in this week's news roundup.
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.
Jordanian lawmakers approve changes to the country's chief AML law and Germany's financial regulator says it is probing UBS AG for tax evasion and money laundering, in this week's news roundup.
Two U.S. companies paid a total of $200 million dollars this week for anti-money laundering (AML) and sanctions violations. On Wednesday, Wells Fargo Co. agreed to pay the United States $160 million and the next day a Delaware corporation paid $40 million.