News
House Panel Advances Bill to Sanction Individuals for Death of Moscow Attorney
By Colby Adams
printA House panel Thursday advanced sanctions legislation that would blacklist individuals deemed responsible for the detention and death of a Moscow attorney who uncovered an alleged tax fraud scheme. Under the Sergei Magnitsky Rule of Law Accountability Act, introduced in April by Rep. Jim McGovern (D-MA), the White House would compose within four months a list of persons responsible for the torture and November 2009 death of Sergei Magnitsky. The list, which would include other human rights violators, would be submitted to Congress annually. Financial institutions would be required to freeze the accounts of anyone on the list, and to...
TO READ THE FULL STORY
Related News
The U.S. Justice Department sued Tuesday for the forfeiture of New York property tied to a $230 million tax fraud and money laundering scheme linked to the death of a Russian attorney.
After a busy year for federal sanctions officials, large banks with international footprints are increasingly instituting deeper, standalone audits of their related policies and procedures, say compliance officers and consultants.
U.S. House lawmakers on Friday overwhelmingly approved banking sanctions against Russian officials allegedly linked to the detention and death of a Moscow attorney who uncovered tax fraud and official corruption.
Senate lawmakers approved a sanctions measure Tuesday aimed at Russian officials allegedly tied to the 2009 death of a well-known anti-corruption lawyer who was severely beaten in a Moscow prison.
U.S. banks should consider increasing their scrutiny over transactions originating from Russia as widespread allegations of election fraud is expected to fan political instability and capital flight, say analysts.
A Russian law that prohibits corporate bribes and raises the ceiling on punitive fines isn't likely to impede businesses from offering illegal incentives to win lucrative contracts, say political observers.
Russia's compliance with international anti-money laundering standards is likely to remain tenuous, according to Ethan S. Burger, a senior lecturer for the Faculty of Law and Centre for Transnational Crime Prevention at the University of Wollongong in Australia.
Bank of New York Mellon and the Russian government finalized an expected settlement Thursday of a lawsuit that had sought $22.5 billion for tax revenue lost to a money laundering scheme.
The Bank of New York Mellon settled a $22.5 billion civil lawsuit brought by the Russian government for the actions of a rogue bank employee who laundered billions of dollars, according to a statement issued Wednesday by Russia's finance minister.
A Moscow court Thursday sentenced the financier accused of ordering the assassination of a top Russian banking official to 19 years in prison, according to a Reuters report.
The U.S. State Department imposed economic sanctions on companies in China, Russia and Venezuela for allegedly selling components that could help Iran, North Korea and Syria develop weapons of mass destruction.
High-level corruption in Russia continues to thwart government efforts to counter money laundering and terrorist financing in the country, a European anti-money laundering watchdog said in a report made public Thursday.
The Russian government has hired celebrated U.S. attorneys Alan Dershowitz and G. Robert Blakey to testify about U.S. RICO laws as part of its $22.5 billion lawsuit against the Bank of New York Mellon for its alleged role in a money laundering scheme.
The Russian government is seeking three times the amount of Russian money a Bank of New York employee helped launder through the institution under the U.S. Racketeer Influence and Corrupt Organizations Act.
The Russian Customs Service is set to open its case in a $22.5 billion money laundering-related lawsuit against the Bank of New York on Monday after a hearing was delayed this week, a bank spokesman said.
Viktor Zubkov, the head of Russia's financial intelligence unit, the Federal Financial Monitoring Service, was nominated to replace Mikhail Fradkov, who announced his resignation hours before the nomination.