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Midweek Roundup: Court Says FinCEN Can Pursue Fine Against Former MoneyGram Chief, U.S. Investigates Standard Chartered’s Law Firms, and More
printA federal district court said the U.S. Treasury Department could move forward with a lawsuit seeking $1 million from former MoneyGram compliance officer Thomas Haider for his alleged failure to stop a telecommunications fraud scheme, The Wall Street Journal reported. The judge found that the Bank Secrecy Act allows the department to levy fines against partners, directors, officers and employees of financial institutions that violate anti-money laundering rules. More Countries around the globe could suspend their economic sanctions against Iran by Monday under terms of the nuclear accord signed over the summer, Bloomberg said. Nuclear inspectors are expected to report...
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MoneyGram's former chief compliance officer failed to overcome resistance by the firm's sales division against disciplining and terminating agents and outlets suspected of facilitating fraudulent transfers, according to a settlement filed in federal court Wednesday.
Spanish officials fined Santander Bank €1 million for "serious" AML deficiencies, the U.K. is unlikely to remain in the European Union's single market after exiting the economic bloc, and more, in the midweek roundup.
The U.K. FCA levied 27 enforcement actions against individuals in 2015, U.S. and U.K. authorities are investigating whether "mirror trades" conducted by Deutsche Bank's equity desk in Moscow helped wealthy Russians violate AML rules, and more, in the midweek roundup.
OFAC admonished but did not fine insurance firms Humana and AXA Equitable Life Insurance for sanctions violations, trade-based money laundering cost the U.S. as much as $2.3 trillion from 2003 and 2014, and more, in the midweek roundup.
American investigators believe an insider aided the theft of $81 million from Bangladesh Bank, Britain's David Cameron angers Nigerian officials ahead of an anti-corruption summit, and more, in this week's news roundups.
German officials intend to unveil measures to crack down on international tax havens, Brazilian President Dilma Rousseff vowed to fight efforts to impeach her over her alleged role in a massive money laundering scandal, and more, in the midweek roundup.
Russia plans to investigate whether the Russian nationals named in the Panama Papers violated any laws, officials in the Ukraine will probe President Petro Poroshenko over his ownership of three offshore companies with ties to Mossack Fonseca, and more, in the midweek roundup.
FIFA is investigating former German soccer star Franz Beckenbauer for allegedly participating in a bribery scheme, Credit Suisse and Palantir Technologies CV have cofounded a project to detect potential misconduct by bank employees, and more, in the midweek roundup.
Former Brazilian President Luiz Inacio Lula da Silva could escape arrest and imprisonment for alleged money laundering, the governor of Bangladesh's central bank resigned after computer hackers managed to steal $81 million, and more, in the midweek roundup.
Bangladesh's central bank said computer hackers siphoned funds from its account at the U.S. Federal Reserve, the U.S. Treasury Department imposed new sanctions on the Lord's Resistance Army and its leader Joseph Kony, and more, in the midweek roundup.
Barclays Plc is reviewing cash transactions linked to its operations in South Africa for signs of money laundering, the IMF concluded that Islamic finance does not pose a greater money laundering threat than that of conventional finance, and more, in the midweek roundup.
Spanish police searched the Madrid branch of ICBC for alleged money laundering, Ecuador plans to charge national soccer federation president Luis Chiriboga Acosta with money laundering, and more, in this week's roundup.
FATF gave a largely positive mutual evaluation report on Italy, Transparency International is seeking "social and political sanctions" against FIFA, and more, in the midweek roundup.
U.S. lawmakers mull new Iran sanctions, French officials advocate lifting financial restrictions on Russia, and more, in this midweek news roundup.
The Kremlin has asked the U.S. Treasury Department to produce proof that Russian President Vladimir Putin is corrupt, a U.N. panel advised the Security Council to place travel bans and asset freezes on South Sudan's president, and more, in the midweek roundup.
Criminal gangs in the United Kingdom are recruiting teenagers on Facebook to move illicit funds, the UN and U.S. lawmakers are weighing new sanctions against North Korea, and more, in the midweek roundup.
Sen. Ben Cardin and other lawmakers will seek to extend the soon-to-expire Iran Sanctions Act for another 10 years, Swiss officials have frozen approximately $80 million of assets linked to 14 FIFA officials, and more, in the midweek roundup.
An internal review by Deutsche Bank AG has uncovered at least $10 billion in suspicious transactions in its Russian branches, Cyprus' central bank revoked the license of FBME Bank Ltd for undisclosed reasons, and more, in the midweek roundup.
China asked the United States to more closely coordinate on terrorist financing cases, Greek police searched a UBS location in Athens for possible evidence of tax evasion, and more, in the midweek roundup.
Uzbekistan has drafted a law intended to crack down on the abuse of offshore jurisdictions, the EU and Switzerland signed an agreement to clamp down on tax cheats, and more, in the midweek roundup.