The United States should strengthen its efforts to fight money laundering and terrorist financing associated with Afghan opium ahead of a military withdrawal from the nation, U.S. officials said Wednesday.
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.
Arizona has granted the nation's largest money transmitter an additional three months to improve its anti-money laundering compliance program and avoid criminal prosecution.
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.
Unscrupulous financial institutions, legislative delays and a lack of quick action by U.S. federal officials are allowing drug cartels to wash money in the United States "right before our eyes," according to Terry Goddard, the former Attorney General of Arizona.
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.
An agreement by one the nation's largest money transmitters to better share transactional data with investigators has resulted in greater scrutiny, both for the business and its chief competitor.
Should U.S. compliance officers take extra steps to inform their foreign counterparts of suspicious transactions? Many AML experts believe they should.
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.
A federal court ruling dismissing a $300 million U.S. lawsuit against two European banks may limit how the United States enforces its anti-money laundering laws abroad, say former investigators.
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.
Arizona investigators are free to seize Western Union money transfers believed to be tied to human smuggling operations, even when the transfers originated from other states, a state court said.
U.S. Representative Rick Renzi lobbied for a federal land exchange program in Congress to benefit James Sandlin, a Texas real estate investor who owed Renzi $700,000, prosecutors said. The two men used proceeds from the land exchange for their personal and business use, according to authorities.
The case points to the difficulties that large money service businesses face in detecting compliance violations at associated stores, compliance consultants say.