News
Midweek Roundup: JPMorgan Reconsiders Services for Domestic Banks, Prosecutors Worry about New York’s Role in Settlements, and More
printProsecutors and some bank regulators are concerned that New York State Department of Financial Services (NYSDFS) Superintendent Benjamin Lawsky may complicate a pending deal with Credit Suisse and BNP Paribas, according to The Wall Street Journal. A pending agreement to settle charges of sanctions violations by the two banks could be compromised by how far NYSDFS is willing to go to punish the banks. More JPMorgan Chase & Co. is reconsidering its relationships with domestic banks that use the institution's back-office functions to process trades and clear payments, The Wall Street Journal reported Sunday. The review of so-called domestic correspondent...
TO READ THE FULL STORY
Related News
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.
Australia's largest banks have told at least 17 virtual currency firms that they will close their accounts, illicit financial flows out of Russia from 1994 and 2012 exceeded $3.2 trillion, 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.
EU officials will appeal a high court ruling that removed Hamas from the 28-member bloc's blacklist, Colombia arrested the CEO of CI Goldex SA for allegedly executing the nation's largest-ever money laundering scheme, and more, in the midweek roundup.
French prosecutors have dropped a money laundering investigation against an Iranian dissident group, a new set of AML rules is increasing the pressure on Chinese banks to flag suspicious activity, 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.
Kenya is the easiest place in the world to form an anonymous shell company to launder illicit profits, France's FIU calls for controls on virtual currency, 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.
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.
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.
Bank and credit union regulators issued 165 enforcement actions in the first quarter of 2014, the United Arab Emirates amended draft AML legislation to expand the number of money laundering offenses, 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.