Ahead of Standard Chartered Bank's payment of $667 million in 2012 to settle U.S. sanctions violations, the lender backed the sales of hundreds of restricted American goods bound for Iran, a leaked compliance review shows.
Recent enforcement actions and national assessments of anti-money laundering efforts point to persistent concerns about potential over-reliance on an old compliance mainstay: third-party audits
In the sometimes complex arrangements between financial institutions and their hired compliance advisors, one ambiguity consistently eludes the legalese of contracts: what can be said in e-mails without landing the firms in hot water?
Promontory Financial Group, LLC won't be able to enter into new contractual relationships with troubled New York-regulated banks until further notice, the state's financial regulator said Monday.
The suspected father-in-law of former Zetas cartel boss Omar Treviño was arrested on criminal conspiracy and money laundering charges, Iraq's parliament is expected to approve an AML bill that will help bring the nation in line with international standards, and more, in the midweek roundup.
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