Financial institutions often enter into relationships with high-risk clients over the objections of their compliance officers, but don't always draw regulatory or legal scrutiny as a result. BankUnited has not been so lucky. Following its own internal tug of war, the South Florida-based lender opened an account for a casino near the Hollywood, Fla. airport with funds from a Uruguayan broker who compliance staff suspected of ties to officials under criminal investigation for corruption in Argentina, Scott Nathan, BankUnited's chief of Bank Secrecy Act compliance said. "I've already had FBI agents interview my bankers once. I'm happy to have them...
A series of public graft scandals from Uzbekistan to Argentina are alike in having landed dozens of domestic officials, business executives and other suspects in jail in countries already perceived as vulnerable to grand corruption.
Argentina will expand its cooperation with international investigators and revise domestic rules as part of an effort to clamp down on terrorism financiers, the head of the country's financial intelligence unit said Wednesday.
Legislation approved Thursday by Argentina's congress will bring the South American nation in line with international counterterrorism financing standards, say current and former officials of the country's financial intelligence unit.