Britain will soon strengthen its asset-freezing powers and review its suspicious transaction reporting rules, according to a governmental plan outlined Thursday.
The Bank of England reportedly exerts "strong pressure" on Russia's second largest bank, an arrested Zetas leader's sons tweet incriminating photographs, and more, in this week's news roundup.
British companies hoping for a compliance reprieve from the U.K.'s key law against bribery could have a long wait ahead of them, with no promise of getting what they've asked for, say attorneys.
U.K. leaders intend to review whether facilitation should be legal again, CFATF warns countries about the risks of Belize, Guyana and Dominica, and more, in this week's news roundup.
An intergovernmental group Tuesday criticized Austria, Spain and the Netherlands for failing to sufficiently investigate and convict individuals and corporations that bribe foreign officials.
The U.S. Justice Department's long-awaited guidance for businesses complying with a foreign anti-bribery law will do little to change its enforcement even as it sets some minds at ease, say attorneys.
A report by the United Kingdom's chief financial regulator on the anti-bribery compliance efforts of investment banks likely signals coming enforcement actions, and greater scrutiny of depository institutions, say former officials.
Not only can banks in the UK expect a number of anti-money laundering enforcement actions from the Financial Securities Authority, despite the fact the agency shuts down next year, investment banks and individuals in financial services can also expect a host of non-AML enforcement actions.
As global efforts to crack down on bribery grow, financial institutions need to more closely scrutinize the accounts they maintain for politically-tied figures, according to a former senior assistant U.S. attorney.
Many large British companies are putting the final touches on their compliance efforts ahead of a Friday enforcement deadline of the country's broad, new anti-bribery law, say U.K. consultants.
Financial institutions operating in the U.K. could be among the first companies fined under a new British anti-bribery law, according to speakers at an anti-money laundering conference in Amsterdam Monday.
The United Kingdom's law enforcement arm said Wednesday that it would not pursue convictions under a new anti-bribery law against companies and individuals with a limited presence in the country.
A stringent new British anti-bribery law will be implemented before the end of the year despite concerns from the business community and the Cameron government, according to the measure's authors.
Senate panel members Tuesday criticized the U.S. Justice Department's enforcement of a U.S. anti-bribery law even as representatives from the commercial sector asked Congress to better shield it from penalties.
U.S. financial institutions and other companies will have additional anti-money laundering and anti-bribery monitoring duties when a new U.K. law takes effect next year, according to a U.K. regulator.
The U.S. Justice Department plans to grow its staff of less than 10 prosecutors specializing in cases tied to the U.S. Foreign Corrupt Practices Act to 15 or more, a spokeswoman confirmed.
Banks and other companies around the world are delaying deals in developing markets, in some cases canceling projects altogether, because they are afraid of being snared by anti-corruption laws, according to a private survey released today.
The conviction of a former U.S. congressman on corruption charges is more than just another public scandal, say white-collar crime analysts. It's a sign that the United States is increasingly willing to levy a 1977 anti-bribery law against individuals, they say.
The number and size of fines levied annually against financial institutions and other corporations for bribery is likely to continue to rise as the global recession fuels corruption, say analysts.
Financial institutions are increasingly renegotiating or dropping planned business deals over concerns that they might violate U.S. anti-bribery laws, according to a survey released Monday.