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Midweek Roundup: EU Threatens to End Terror Tracking Program, Swiss Lawmakers Approve FATCA Plan, and More
printFinancial institutions across the globe are having problems finding qualified professionals to staff their anti-money laundering (AML) departments, according to a survey by the Association of Certified Anti-Money Laundering Specialists and Dow Jones. The survey, which questioned 989 compliance officers, also found that 77 percent of respondents cited increased workload in the past year, and two out of five said their compliance departments faced staffing storages, The Wall Street Journal reported Wednesday. More European Parliament officials threatened to suspend, and possibly terminate, the EU-U.S. Terrorist Finance Tracking Programme following disclosures that the National Security Agency collected data on Belgium-based Society...
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As a long-negotiated U.S.-Swiss tax settlement inches forward, some banks in Switzerland are asking themselves an unlikely question: can we disclose more?
The FDIC disclosed two consent orders for BSA violations, turmoil related to the Arab Spring has resulted in a rise in Tunisian money laundering, and more, in the midweek roundup.
Iran's state-owned National Iranian Gas Company could shut its doors due to financial losses, a former Venezuelan state banking official pleaded guilty to money laundering, and more, in the midweek roundup.
Terrorists in West Africa often use drug and weapons trafficking to fund their operations, the SEC entered into its first-ever deferred prosecution agreement with an individual, and more, in the midweek roundup.
The British High Court injunction Tuesday against Barclays ending its relationship with Somali money services businesses is likely to keep the bank from dropping the accounts for five or six months, according to compliance experts.
A federal judge has agreed to sign off on a plan to settle a civil money laundering case against SAC Capital Advisors LP, France will remove Jersey from its tax blacklist if the jurisdiction improves how it responds to data requests, and more, in the midweek roundup.
U.S. authorities are investigating Cantor Gaming, an affiliate of Cantor Fitzgerald, former U.S. Congressman Rick Renzi was sentenced to 36 months in prison, a Vancouver ATM allows users to exchange bitcoins for cash, and more, in the midweek roundup.
Japanese officials have increased pressure on Japan's organized crime groups, Singapore is conducting a national assessment to gauge money laundering risks, and more, in the midweek roundup.
Belgian authorities raided the homes of 20 HSBC customers as part of an tax evasion investigation, Swiss authorities furthered loosened bank secrecy standards, and more, in the midweek roundup.
Ireland's central bank fined XA MPS Financial Limited approximately $67,580 for AML violations, a court sentenced former Greek Defense Minister Akis Tsochadzopoulos to 20 years in prison for money laundering, and more, in the midweek roundup.
A New York art dealer pleaded guilty to money laundering and tax offenses, Brazil's Supreme Court voted 6-5 to accept the appeal of defendants found guilty of Brazil's largest political corruption case, and more, in the midweek roundup.
Bangladeshi officials are set to file tax evasion charges against a Nobel Peace Prize winner, the NCUA issued an enforcement action against North Dade Community Development Federal Credit Union for BSA violations, and more, in the midweek roundup.
Egypt's ouster of Mohamed Mursi's government has indefinitely stalled plans to return looted Egyptian assets held in Swiss bank accounts, Liechtenstein has adopted a draft law that revises the nation's bilateral double taxation agreement with Austria, and more, in the midweek roundup.
Iran is increasing its importation of alumina from China and India, Interpol is forming a task force to assist the repatriation of money stolen by the deposed government of Colonel Moammar Gadhafi, and more, in the midweek roundup.
Germany's BaFin is reportedly investigating potential AML violations by Deutsche Bank, a U.K. court could order the British government to pay millions to compensate a blacklisted Iranian bank, and more, in this midweek roundup.
Two men in a Miami federal court pleaded not guilty to terrorist financing charges, Singapore strengthened its counterterrorist financing regime, and more, in the midweek roundup.
The FBI is probing software company Ebix Inc. for suspected money laundering, a group of 76 U.S. senators urged President Obama to implement tougher sanctions against Iran, and more, in the midweek roundup.
Sixteen of HSBC's Irish clients have agreed to settlements with Ireland's tax authority for hiding millions of dollars in taxable assets, a former executive assistant at Citibank was sentenced to over four years in prison for money laundering, and more, in the midweek roundup.
The Swiss Federal Criminal Court stopped the transfer of banking data to Italy on the grounds the information sharing violated the rights of nine people accused of money laundering, the U.S. Treasury Department designated two Mexican nationals for their ties to Los Zetas cartel, and more.