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Weekly Roundup: Luxembourg Fines Swiss Bank for 1MDB Breaches, Atlanta Remitters Used to Launder Drug Profits, and More
printLuxembourg's financial regulator fined the local subsidiary of Swiss-based Edmond de Rothschild nearly €9 million for alleged compliance failures linked to the private bank's handling of funds from the 1Malaysia Development Bhd. embezzlement scandal, Luxemburger Wort reported. More U.S. authorities charged 11 individuals with allegedly paying money remittance firms to launder more than $40 million in narcotics-sales proceeds through Mexico over a 4-year period. More Seven fake online stores based in Europe provided a front for internet-gaming payments to be made on credit cards, according to Reuters. More Russia's Anti-Monopoly Service ruled that local officials in Moscow received illegal bank...
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