Banks were the subject of praise and a warning at a press conference on Monday unveiling a 317 count indictment against 11 corporations and five individuals for their alleged participation in a conspiracy involving an Iranian shipping company. Manhattan District Attorney Cyrus R. Vance characterized nine banks as victims of deception when they processed more than $60 million of payments for the Islamic Republic of Iran Shipping Lines (IRISL) in violation of U.S. sanctions. The banks "were not complicit in any way, but on the contrary have been very helpful" during the 14-month investigation that culminated in the indictments, said...
Weekly Roundup: Sinaloa Members Reportedly Unaffected by Sanctions, Lawsuit Says Hedge Fund Laundered Libyan Funds, and More
Weekly Roundup: Obama Nominates Yellen for Fed Chair, JPMorgan Forms AML ‘SWAT’ Team Amid Legal Woes, and More
Weekly Roundup: JPMorgan to Spend $4 Billion on Compliance Controls, New York Probes Bank Consultancies, and More
Midweek Roundup: German Regulator Probes Alleged Deutsche Bank AML Violations, Mexican Kingpin Gets 15 Years, and More
Weekly Roundup: Iranians Invest in Georgia to Bypass Sanctions, FATF Publishes Plenary Meeting Results, and More