In light of growing militant threats and increasing sophistication in terrorist funding networks, a handful of banks are rethinking how to monitor and act upon financial intelligence.
Proposals by California's top prosecutor to strengthen the state's anti-money laundering laws are expected to find broad support among lawmakers.
Attorneys for a Florida couple accused of selling black-market medical devices argued before the Supreme Court Wednesday that the government's power to freeze the assets of defendants should be further limited.
The U.S. government's landmark case against HSBC Holdings Plc for knowingly turning a blind eye to financial crime is seemingly fated to end much as it began: complex and messy.
An intergovernmental group's revised expectations of how countries should seize looted assets may prove difficult to meet, and could lower the mutual evaluation scores nations receive for their anti-money laundering controls.
U.S. banks will face additional freeze orders and banking data requests from federal prosecutors when a new asset-freezing measure adopted Wednesday by U.S. lawmakers takes effect next year, say analysts.
Inconsistent international forfeiture laws continue to hamper global asset forfeitures, according to Stefan D. Cassella, chief of the Asset Forfeiture and Money Laundering section of the U.S. Attorney's Office in Maryland.
The United States is "very weak" in retrieving assets lost abroad to criminals, and should make better use of international treaties designed to aid asset recovery, according to the head of a company that helps investigate lost funds.
Information on tax evasion and asset recovery cases will likely top data-sharing requests filed by foreign governments with the United States over the next three to five years, say analysts.
A group of seasoned attorneys and investigators is launching a non-profit organization to help developing countries recover some of the billions of dollars in assets plundered by corrupt political leaders.
The United Nations Tuesday released its finalized recommendations on how member states should draft legislation to combat money laundering and terrorist financing, including provisions to seize criminal assets.
The Southern District of New York collected over 52 percent less in asset forfeitures in fiscal year 2008 than it did in the previous year, the agency said Thursday.
At least four international banks with operations in the United States are in negotiations with the Chilean government to repatriate as much as $40 million tied to former dictator Augusto Pinochet, an attorney involved with the case confirmed Friday.
The U.S. Justice Department is seeking the forfeiture of $110 million in proceeds from an allegedly corrupt Italian bankruptcy case.