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IRS to Ready ‘John Doe’ Requests for Tax Evasion Facilitators U.S. officials will soon order banks, credit card companies and firms linked to tax compliance to turn over data on whether their clients are illegally hiding assets offshore, IRS agents said Monday.
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May 4, 2015
Weekly Roundup: U.K. Agency Faces Legal Challenge Over HSBC Case, Iran Bill Hits Snag in Congress, and More The UN could impose targeted sanctions against Mali in response to recent violence, Israeli authorities arrested three individuals for allegedly transferring money on behalf of Hamas, and more, in this week's roundup.
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May 1, 2015
As Russia’s Financial Sector Shrinks, So Too Do Its Compliance Teams Away from Moscow, EU and U.S. sanctions have done more than simply hobble the ability of Russian banks to obtain credit and correspondent accounts. For some institutions in London, the restrictions have resulted in tight constraints on anti-money laundering compliance efforts.
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May 1, 2015
Proponents of Global Magnitsky Bill See Opposition to Passage The White House is unlikely to back a bill that would expand a Russia sanctions program to target corrupt officials and human rights abusers worldwide, lawmakers and congressional witnesses said Wednesday.
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April 29, 2015
London
In London's financial district, Russian banks have had to downsize their AML departments to cope with declining revenue. More...
OFAC Publishes Guidance on Travel Between U.S., Cuba The Treasury Department's Office of Foreign Asset Control addressed questions concerning individuals who may travel between the United States and Cuba pursuant to the Cuban Asset Control Regulations, and provided guidance on qualified accompanied baggage for authorized travelers.
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May 5, 2015
Mayor De Blasio, MDA Vance Comment on BNP Paribas Sentencing New York City Mayor Bill de Blasio and Manhattan District Attorney Cyrus R. Vance, Jr., both issued statements following the sentencing of BNP Paribas S.A. for conspiring to violate the International Emergency Economic Powers Act and the Trading with the Enemy Act.
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May 1, 2015
U.S. Attorney Announces Final Sentencing of BNP Paribas for Sanctions Violations The U.S. Attorney's Office for the Southern District of New York issued a press release announcing the sentencing of BNP Paribas for violations of U.S. economic sanctions. The bank was sentenced to five years' probation, ordered to forfeit $8,833,600,000 and pay a fine of $140,000,000.
Original | Brief
May 1, 2015
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In Australia’s latest mutual evaluation report, the Financial Action Task Force rated the nation as having a high effectiveness score in _____ categories.
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Not THAT Funny

 

April 24, 2015


The importance of the IRS hasn’t prevented Congress from cutting its budget by 20 percent over the past five years. Operating with 13,000 fewer employees, the IRS is finding it increasingly difficult to accomplish what it is tasked to do. 

 

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FinCEN Fines Ripple Labs Inc. $700,000 for BSA, Virtual Currency Violations The Financial Crimes Enforcement Network penalized the San Francisco, CA-based virtual currency exchanger and its wholly-owned subsidiary, XRP II, LLC, $700,000 for failing to register as a money services business that sold convertible virtual currency known as “XRP."
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May 5, 2015
Indian Regulator Warns Vijaya Bank for AML/KYC Deficiencies The Reserve Bank of India cautioned the Karnataka, India-based bank to address failures in its anti-money laundering and know-your-customer internal controls, in particular concerns regarding customer due diligence, management and transaction monitoring issues.
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April 29, 2015
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