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As U.S. officials and bankers debate the merits and drawbacks of an expected $10 billion sanctions settlement with BNP Paribas, their French counterparts are offering a more unified response: outrage.
The West's financial ties to Russia have given countries pause in considering further sanctions, a Roman judge dropped a money laundering case against the former head of the Vatican Bank and more, in this week's news roundup.
In announcing sanctions against Russian politicians and one bank Thursday, U.S. officials made clear that American financial institutions should prepare for more, and soon.
The financial clearing subsidiary of Deutsche Börse AG will pay the U.S. Treasury Department's sanctions enforcer $152 million for holding money in New York-based accounts on behalf of Iran's central bank.
The chairman of a Senate committee vowed Thursday to block additional sanctions against Iran in an effort to protect last month's multilateral accord to suspend portions of the country's nuclear program.
Amid all of the political rhetoric and bombast that accompanied television coverage of the 16-day government shutdown last month, one question never seemed to get any airtime: what did it all mean for the financial compliance industry?
JPMorgan Chase launches AML SWAT team as the bank's legal costs mount, Turkey blacklists over 350 entities in an effort to comply with United Nations sanctions, and more, in this week's news roundup.
Federal officials will weigh whether financial institutions can bank medical marijuana shops, New York's financial regulators asks two financial consultancies for data and more, in this week's news roundup.
Germany's BaFin is reportedly investigating potential AML violations by Deutsche Bank, a U.K. court could order the British government to pay millions to compensate a blacklisted Iranian bank, and more, in this midweek roundup.
The U.S. House of Representatives Wednesday approved legislation that would limit White House-granted waivers to nations that purchase oil from Iran under a 2011 sanctions law.
The U.S. Treasury Department has picked replacements for two recently vacated senior-level positions involved with the drafting of economic sanctions and anti-money laundering policies, according to an official.
High-profile sanctions cases are spurring large banks and third-party software vendors to improve how they identify when counterparts and clients secretly act on behalf of blacklisted entities, say compliance experts.
U.S. lawmakers will introduce sanctions legislation targeting North Korea's use of criminal proceeds and third-country banks that finance its nuclear program, members of the House Foreign Affairs Committee said Tuesday.
While the popularity of virtual worlds has grown in recent years, lawmakers and regulators have been slow to address related vulnerabilities to financial crime, according to Dr. Clare Chambers-Jones, an associate professor in banking and finance law at the University of West England Bristol.
The U.S. Justice Department will begin this year refunding customers of a defunct digital currency company that paid nearly $3.3 million to settle sanctions and anti-money laundering violations.
A U.S. official's threat last month of economic sanctions against four Chinese banks is likely to be toothless given economic and enforcement hurdles, say sanctions analysts.
An emerging virtual currency intended to be used in lieu of cash could also be a vehicle for criminals seeking to make international transactions anonymously, according to investigators.
A federal judge sentenced a digital currency company and its directors to three years of probation and a joint $300,000 fine after a plea deal on charges that the company had helped criminals launder money.
Online digital currency business E-Gold and its three principal directors admitted late Monday to laundering money and operating as an unlicensed money transmitting business.
Two Brooklyn men were charged with operating an illegal online money-transfer business that bought and sold more than $30 million in e-gold globally since 1999, according to Manhattan District Attorney Robert Morgenthau.
