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Weekly Roundup: Malaysia’s 1MDB Probe Criticized, Firm Claims North Korea Ties to Swift Breaches, and More 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.
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May 27, 2016
Senate Bill Raises Bar for Legal Challenges from Foreign Drug Kingpins U.S. lawmakers are considering legislation that would make it harder for individuals blacklisted as drug traffickers to successfully challenge their designations in court.
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May 26, 2016
No Compromise in Sight as List of U.S. Beneficial Ownership Proposals Grows Competing U.S. proposals that would require companies to disclose their beneficial owners have gained unprecedented momentum in recent months, with no signs of a consolidated measure in sight.
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May 26, 2016
Midweek Roundup: Swift Prepares New Cybersecurity Strategy, Singapore Closes Swiss Bank, and More Singapore’s central bank revoked BSI Bank’s license to operate in the city-state, about $11 billion in illegal proceeds derived from an estimated 23,000 crimes were transferred out of Russia last year, and more, in the midweek roundup.
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May 25, 2016
Coinstar
British officials said Wednesday that they would consider whether digital tools could help reduce AML compliance costs as part of a broader campaign to limit the “de-risking” of accounts held for money services businesses and other high-risk companies. More...
EU Extends Sanctions Against Syria for Another Year The Council of the European Union announced the extension of sanctions against the Syrian regime until June 1, 2017, keeping the sanctions in line with its December 2014 decision that affirmed the EU's imposition of sanctions as long as repression continues in Syria.
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May 27, 2016
EU Adopts New Sanctions Against North Korea, Including Restrictions on Trade, Financial Services According to the press release issued by the Council of the European Union, it adopted sanctions against North Korea in order to reinforce the sanctions regime imposed by the United Nations Security Council. The restrictions also cover investments and the transportation sector.
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May 27, 2016
IMF Managing Director Approves SMP for Somalia The International Monetary Fund released a press release announcing that its Managing Director approved a Staff Monitored Program for the Federal Republic of Somalia, designed to improve the country's weak government, economic condition and administrative capacity.
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May 27, 2016
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Will Panama Papers Give Governments New Backbone for Transparency?

April 11, 2016

By Kieran Beer

The Panama Papers are justifiably grabbing headlines based on the number of “A-list” politicians and celebrities, as well as the handful of notorious criminals, that they name.

But it’s important to step back and have a little perspective: the use of shell companies for tax evasion, the proceeds of corruption and other crimes detailed in the papers are outrageous, but sadly nothing new.

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RBI Fines Birdev Sahakari Bank Ltd for KYC Failures The Reserve Bank of India issued a monetary penalty of five lakh rupees against the Kolhapur, India-based bank for deficiencies in its know-your-customer policies.
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May 26, 2016
OCC Fines Wells Fargo Bank, N.A. $70 Million for Billing Deficiencies The Office of the Comptroller of the Currency issued a civil monetary penalty against the Sioux Falls, SD-based financial institution for failing to properly file Payment Change Notices for 54,837 active accounts.
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May 24, 2016
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