News
Weekly Roundup: U.S. Military Researches Use of Twitter Data to Identify Laundering, Ocean Bank DPA Ends, and More
printAn Iraqi lawmaker believes that the amount of money laundered in the Gulf nation is equivalent to approximately 20 percent of its investment budget, Al-Monitor reported. The laundered money, which totals around $9 billion, stems from fake government deals executed by state officials who hide the money in real estate investments abroad, Ahmad al-Jabouri told the news agency. More The U.S. Department of Defense has begun researching whether it can use publicly available information from Twitter to better identify terrorists and money launderers, Financial Times reported. In an 8-day experiment, U.S. Special Operations Command organized a test of how the...
TO READ THE FULL STORY
Subscribe
Learn More
Related News
JPMorgan Chase launches AML SWAT team as the bank's legal costs mount, Turkey blacklists over 350 entities in an effort to comply with United Nations sanctions, and more, in this week's news roundup.
A Texas woman pleaded guilty to laundering $37,200 in connection with a healthcare fraud scheme, banks in Guyana are finding it nearly "impossible to do business overseas" due to the country's lack of adequate AML controls, and more, in this week's roundup.
A Bermuda-based investment company is forfeiting $2.8 million to the U.S. in connection with a money laundering case, Kuwait approved the creation of a new financial intelligence unit, and more, in this week's roundup.
U.S. Sen. Carl Levin (D-MI) reintroduced the Stop Tax Haven Abuse Act, the creator of Beanie Babies agreed to pay over $53 million for tax evasion, and more, in this week's roundup.
Federal officials will weigh whether financial institutions can bank medical marijuana shops, New York's financial regulators asks two financial consultancies for data and more, in this week's news roundup.
U.S. financial regulators will ratchet up monetary penalties against banks that fail to improve their compliance programs, a U.S. district judge sentenced the brother of two alleged Los Zetas members to 20 years in prison for money laundering, and more, in this week's roundup.
The number of people being used as money mules for criminals is on the rise in New Zealand, the former aide of a Chicago official was convicted of money laundering, and more, in this week's roundup.
A former brother-in-law of the late U.S. Sen. Ted Kennedy faces money laundering charges, Chicago's former city comptroller was indicted for bribery and money laundering, and more, in this week's roundup.
Pope Francis issued a decree strengthening the Vatican's AML regulations, U.S. officials have said that they could blacklist a gas pipeline project by Iran and Pakistan, and more, in this week's roundup.
A Dutch businessman agreed to pay 34.5 million euros to the Netherlands for operating First Curacao International Bank without a license, a San Antonio, TX man pleaded guilty to running an illegal money transmitter, and more, in this week's roundup.
U.S. lawmakers threaten to impose sanctions on Russia for harboring Edward Snowden, Switzerland transfers $962 million for backdated taxes, and more, in this week's news roundup.
The European Union's Court of Justice concluded that EU authorities unfairly froze the assets of a Saudi businessman accused of terrorist financing, Kuwait's Capital Markets Authority issued new AML guidelines, and more, in this week's roundup.
Insurers could become the next target of U.S. authorities investigating Swiss institutions for abetting tax evasion, a group of ministers in India are being investigated for tax crimes and money laundering, and more, in the weekly roundup.
London-based Barclays Bank will close accounts for some 250 money services businesses by July 10, Ireland has transposed the Third EU Money Laundering Directive and addressed most of the deficiencies noted by FATF, and more, in this week's roundup.
The U.S. Treasury fined Intessa Sanpaola for sanctions violations, Italy arrested a senior Vatican official for allegedly participating in a cash smuggling scheme, Costa Rica is investigating accounts controlled by the Venezuelan government, and more in the weekly news roundup.
The OECD says Portugal needs to better enforce its anti-bribery laws, the U.S. Treasury Department voices concerns about Iranian investments in Georgia, and more, in this week's news roundup.