News
Weekly Roundup: HSBC Admits Compliance Breach, Christian Charity Accused of Funding Hamas, and More
printHSBC said it has failed to create an effective nationwide, U.S. risk management program as required by the U.S. Office of the Comptroller of the Currency in a 2010 action against the bank, the Guardian reported. The lender also confirmed that regulators in several countries have requested information about its dealings with Mossack Fonseca, the global law firm at the center of the Panama Papers scandal. More The U.S. State Department ignored concerns of senior Justice Department officials that sending $400 million in cash to Iran to settle legal claims around the same time that the country released four American...
TO READ THE FULL STORY
Related News
U.S. lawmakers discussed a money-laundering trial with a former Soviet spy last month, a former UBS banker was found guilty of money laundering and corruption in New York, and more, in this week's roundup
IRS faces another slash to budget, North Korea's illicit financial activity growing in sophistication, and more, in this week's roundup.
Australian gaming company pays $35 million to settle money laundering charges, U.S. lawmaker raises alarm over Deutsche Bank's loans to U.S. President Donald Trump, and more, in this week's roundup.
A European court rejected an appeal by UBS to overturn a French court's decision on humanitarian grounds, the United States eased sanctions against Sudan, and more, in this week's roundup.
Russian sports agent Andrey Baranov is the target of a U.S. money laundering investigation, an Italian court will depose four employees of Bank of China that were allegedly involved in transferring roughly $2.5 billion in illicit funds, and more, in this week's roundup.
Banks helped U.K. law enforcement to identify 10 people suspected of making 1,985 fraudulent transactions, Colombia for the first time ever seized over $3 million in illegal mining assets from the FARC, and more, in this week's roundup.
Germany may push the EU to adopt a new round of sanctions against Russia, Bank of Tokyo-Mitsubishi, HSBC and OCBC Bank are set to test the use of blockchain technology to screen transactions in a trial run, and more, in this week's roundup.
Weekly Roundup: US Tags Chinese Bank with Enforcement Action, Hedge Fund Admits Corruption, and More
U.N. sanctions on Iran's Bank Sepah and Bank Sepah International were removed as part of a "secret" deal between U.S. and Iranian officials, the Fed ordered the Agricultural Bank of China to overhaul its AML program, and more, in this week's roundup.
OFAC designated the Pacnet Group as a transnational criminal organization, Canadian lenders Scotiabank, RBC and CIBC together formed nearly 2,000 offshore firms in the Bahamas according to leaked documents, and more, in this week's roundup.
Brazil's former President Luiz Inacio Lula da Silva denied wrongdoing after prosecutors charged him with money laundering, an Iranian lawmaker said that Iran's cooperation with FATF is crucial to the country's reengagement with the global financial system, and more, in this week's roundup.
Approximately $50 billion is laundered through Mexican financial institutions every year, Deutsche Bank's Chief Information Security urged the global messaging system known as Swift to strengthen its security processes, and more, in this week's roundup.
U.N. Security Council members failed to reach the consensus needed to pass sanctions against Syria, Haiti adopted AML and counterterrorist financing controls, and more, in this week's roundup.
Taiwan plans to bolster its anti-money laundering rules, U.S. and South Korean officials are considering imposing a new round of sanctions against North Korea, and more, in this week's roundup.
Malaysia will take legal action against individuals that played a role in defrauding 1Malaysia Development Bhd, American officials are preparing new sanctions against individuals and institutions purportedly linked to Hezbollah, and more, in this week's roundup.
FIFA executives allegedly give themselves almost $80 million in pay raises and bonuses, Swift warns banks with weak cybersecurity that they might be denied access to its messaging system, and more, in this week's roundup.
French judicial officials will decide in a month whether prosecutors have gathered enough evidence to try the son of Equatorial Guinea's president, Singapore initiated its first-ever terrorism financing case under a 2002 law, and more, in this week's roundup.
Group of Seven nations are expected to agree to bolster their efforts against money laundering and terrorist financing, the Bank of England ordered the banks it regulates to strengthen controls around their Swift terminals, and more, in this week's roundup.
Brazils senate suspended President Dilma Rousseff for up to six months while she waits for an impeachment trial, American officials are investigating more than a dozen businesses potentially linked to Brazil's Petrobras scandal, and more, in this week's roundup.
Nigerian Justice Minister Abubakar Malami has called for an upcoming U.K. anti-corruption summit, the U.S. Treasury Department blacklisted Panama-based Balboa Bank & Trust, and more, in this week's roundup.