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Midweek Roundup: Facebook Eyes Offering Remittance Services, Finra Suspends AML Officer for BSA Violations, and More
printBank and credit union regulators issued 165 enforcement actions in the first quarter of 2014, 31 more than in the same period in 2013, the Credit Union Times said Sunday, citing technology firm Continuity Control. Examiners are focusing on safety and soundness and anti-money laundering controls, particularly in relation to recent U.S. Treasury Department guidance on marijuana-related businesses. More Facebook is set to win approval from Ireland's central bank that would allow its users to store and transfer money online, Bloomberg reported Tuesday. The company's implementation plans haven't been finalized. More Irene Stay Shannon, who convicted Ponzi schemer Scott Rothstein...
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Middle East terrorists allegedly used PayPal and digital currencies to fund Indonesian activities, Dutch authorities investigate three Bitcoin-linked money laundering cases, and more, in the midweek roundup.
Canada announced sanctions against 37 Russian and Ukrainian individuals and 17 entities, banks in Ireland need to improve AML training and risk assessment procedures, and more, in the midweek roundup.
Expected EU sanctions aimed at Russia could include capital market restrictions, MasterCard has reversed its block on U.S.-issued card transactions in Cuba, and more, in the midweek roundup.
Two U.S. banks were targeted by regulators for BSA issues, Wells Fargo Advisors faced a Finra probe for AML problems, and more, in the midweek roundup.
Russia's plans to develop a gambling zone along Crimea's border could result in an influx of dirty money, Ecuadoran lawmakers approved legislation last month to create a digital currency to be launched in October, and more, in the midweek roundup.
The Vatican appointed French financier Jean-Baptiste de Franssu to head its bank, Singapore issued guidelines on how financial institutions should comply with customer due diligence requirements, and more, in the midweek roundup.
The Obama administration is preparing sanctions targeting Russia's financial, energy and defense industries, Iran is asking HSBC to process humanitarian aid-related transactions it has frozen, and more, in the midweek roundup.
M&T Bank Corp. was ordered to forfeit $560,000 for failing to file eight CTRs, a Malaysian Buddhist nun is suspected of laundering over $4.3 million, and more, in the midweek roundup.
South Africa joined the bevy of countries that have signed onto FATCA, U.S. officials arrested 27 Mexican nationals for allegedly laundering money, and more, in this week's roundup.
Belgium has launched a money laundering investigation of Swiss Bank UBS AG, tens of thousands of financial institutions have registered under FATCA, and more, in the midweek roundup.
Hong Kong is expected to extend money laundering laws to lawyers, accountants, property agencies and jewelry shops, FATF will blacklist Afghanistan if the country doesn't soon adopt AML laws, and more, in the midweek roundup.
A former prime minister of Curacao was detained in the island-nation on suspicion of money laundering, four senior executives at a publically-traded real estate company in Israel were arrested for allegedly laundering money, and more, in the midweek roundup.
Job openings at London-based financial companies rose 67 percent in April, Egypt's President Adly Mansou approved an amendment to the country's AML law, and more, in the midweek roundup.
Singapore agreed to a Model 1 intergovernmental agreement to comply with FATCA, JPMorgan Chase is closing accounts and stopping credit card services for all current and former foreign government officials, and more, in the midweek roundup.
The U.K.'s SFO froze approximately $23 million in an investigation examining alleged corruption in Ukraine, seventy-nine individuals have been arrested in Israel for alleged drug trafficking and money laundering, and more, in the midweek roundup.
Mexico will soon draft a sanctions list targeting drug traffickers and money launderers, South Africa's central bank fined four banks for AML deficiencies, and more, in the midweek roundup.
The U.S. Justice Department plans to take creative steps to combat the abuse of virtual currencies, Nigeria risks suspension from FATF if it fails to boost its AML legislation before June 1, and more, in the midweek roundup.
Prominent Bitcoin advocate Charlie Shrem is in plea talks after federal prosecutors accused him of agreeing to help launder over $1 million in bitcoins, Maldives' Parliament approved new AML legislation, and more, in the midweek roundup.
The National Bank of Ukraine is investigating approximately 10 banks for possible money laundering, Nepal's Parliament approved three AML bills, and more, in the midweek roundup.
The son of Equatorial Guinea's President Teodoro Obiang Nguema has been indicted for money laundering in France, Brazilian authorities dismantled a $4 billion money laundering operation, and more, in this week's roundup.