Following the decision to hinge a financial aid package for Cyprus on the findings of two audits, other jurisdictions seeking bailouts will likely have to prove their anti-money laundering bona fides.
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.
Critics of an influential organization that sets international standards on anti-money laundering and counterterrorism financing compliance are questioning whether it evaluates its members fairly.
Businesses and individuals seeking to evade sanctions that target Iran and other nations may be utilizing back-to-back letters of credit to disguise their roles in transactions, say trade analysts.
Additional banking and trade restrictions that target the finance and supply of Iran's nuclear and ballistic missile programs were passed by the U.N. Security Council Wednesday.
The U.S. Treasury Department's financial intelligence unit withdrew a March 2008 advisory Monday warning banks of Uzbekistan's decision to suspend its anti-money laundering law.
An influential financial crime watchdog group released Thursday a much-anticipated list of nearly 30 countries with anti-money laundering and counter terrorism financing deficiencies.
The Financial Action Task Force should take a more aggressive stance against non-cooperative governments, according to a report released by the United Kingdom's Home Office.
An anti-money laundering watchdog association will issue guidelines on how countries can best identify and freeze the assets of terror financiers, the organization said Monday.
The result of presidential elections this month in Iran could have a "huge" impact on whether the United States pushes to impose new economic sanctions against Iran, say analysts.
The U.S. government Wednesday blacklisted a fifth Iranian bank for allegedly helping the country build nuclear weapons, the latest move in escalating efforts to hem in Iran and convince Europe to follow suit.
The U.S. Senate banking committee approved a bill that would ratchet up economic pressure on Iran and increase the budgets of two government agencies that enforce sanctions and counter-terrorist financing regulations.
The Financial Action Task Force, a global financial crime watchdog is set to release three reports highlighting the methods that money launderers and terrorists can employ to exploit trade and electronic commerce and facilitate weapons proliferation.
The bank, which is based in London, expects to reach a "resolution" with the U.S. Justice Department, U.S. Treasury Department's Office of Foreign Assets Control and New York District Attorneys office, Lloyd's said in a statement Friday.
The FATF, in a four-year plan the group adopted April 12, said it will meet with financial institutions and other private businesses at trade group events and consultative forums as it develops policies to battle laundering and terrorist financing threats worldwide.
The U.N. Security Council voted a third round of sanctions against Iran over its alleged ambitions to develop nuclear weapons. Fourteen of the 15 members of the Security Council supported a measure calling for tighter monitoring of Iranian financial institutions, travel bans, and cargo inspections.
An international anti-money laundering and counterterrorist financing watchdog is considering whether to take action against Iran for weaknesses identified in the country's AML laws.