Federal investigators believe that sales of synthetic cannabinoid products could have links to terrorist financing and criminal syndicates, according to a DEA assistant special agent in charge.
The Supreme Court nears a ruling on the long-running Arab Bank case, FATF spares Afghanistan from its blacklist, and more, in this week's news roundup.
A proposed Uruguayan law that would permit and regulate recreational marijuana use poses serious legal and regulatory questions for American banks doing business in the region, according to compliance officers and former U.S. attorneys.
The contiguous stretch of land from Iraq to Tajikistan remains one of the riskiest geographies for financial institutions shielding themselves from money launderers and terrorist financiers, according to a Swiss nonprofit organization.
Finra fined GBM International $20,000 for failing to conduct due diligence on foreign mutual funds, JPMorgan is expected to pay the U.K. approximately 500 pounds to settle claims that the institution evaded taxes on corporate bonuses, and more, in the midweek roundup.
U.S. investigators Wednesday disclosed the seizure of $31 million from seven American banks as part of a probe into an alleged Peruvian money laundering network that exploited industrial firms and shell companies.
When Mexico's President Felipe Calderon relinquishes power in December to his successor, he'll leave behind a decidedly mixed legacy in the fight against the country's drug cartels. But U.S. law enforcement agents and other officials worry that Mexico's next leader could do worse, sources say.
Dozens of U.S. banks along the country's southern border are denying new accounts to wealthy Mexican nationals and corporations because of due diligence troubles caused by drug-related violence in Mexico.
A top BCCI investigator spoke with reporter Larissa Bernardes about some of the complex money laundering schemes he encountered during his undercover work.
The U.S. Justice Department continues to seized more than $3.2 million in nearly 400 accounts tied to narcotics dealers, Transparency International published its annual corruption report and more, in this weeks roundup.
More than 100 medical marijuana clinics have seen their accounts closed in the last 18 months by at least three U.S. banks concerned about regulatory repercussions, say cannabis advocacy groups.
The opaque financial structures of the sports sector, including soccer and basketball, can be abused by criminals seeking to disguise dirty money and climb social ladders, an intergovernmental organization said Wednesday.
Arizona's Supreme Court struck down a ruling Wednesday that would have allowed the attorney general to order freezes on wire transfers from 28 other states to locations in northern Mexico.
Africa is fast becoming one of the world's largest hubs for smuggling cocaine, heroin and prescription drugs from South America and Asia into Europe and the United States, according to a United Nations watchdog group.
Latin American and Canadian drug cartels profit and launder between $51 billion and $95 billion from U.S. sales annually, often smuggling their proceeds across the border, according to a government report.
Bolivia's decision to oust the U.S. Drug Enforcement Administration from the country will likely open the way for increase in regional drug trafficking and organized crime, say analysts.
U.S. Justice Department prosecutions involving narcotics are expected to remain flat for fiscal year 2008, as immigration violations will again be the most commonly charged federal offense, according to a report by a Syracuse University organization that tracks trends in law enforcement.
The case points to the difficulties that large money service businesses face in detecting compliance violations at associated stores, compliance consultants say.
French authorities are seeking to extradite Noriega following his release in September from a U.S. prison to prosecute him for allegedly laundering more than $3.15 million.
A federal judge on Friday rejected a request by Manuel Noriega to block his extradition to France, paving the way for the former Panamanian dictator to face 10 years in prison on money laundering charges in the European nation.