New Zealand's Ministry of Justice called for industry input ahead of the government's submission next year of legislation that could impose anti-money laundering rules on non-bank businesses and amend suspicious activity reporting obligations.
British officials disclosed plans Thursday to require banks to screen their customers against a list of undocumented immigrants as part of a broader initiative to reduce unlawful migration.
The European Commission sets a two month deadline for Germany to fully comply with the Third Money Laundering Directive, a secret report is leaked connecting an Islamic political group and al-Qaida, and more, in this week's roundup.
A client of UBS AG pleads guilty to tax evasion as a longstanding data sharing arrangement between the United States and the European Union is poised to collapse, in this week's news roundup.
The U.S. Justice Department dropped its controversial money-laundering case Wednesday against a prominent Miami lawyer who had vetted legal fees for a second attorney defending a Colombian drug lord.
Sanctions compliance at British law firms remains woefully inadequate, with few companies willing to update client verification lists or upgrade aging software systems, say U.K. analysts and lawyers.
The U.S. Treasury Department dropped a long running case Tuesday against an attorney it said covered up the fraud that eventually led to the dissolution of a Miami bank.
A federal judge's decision to drop a money laundering charge against a Miami attorney accused of vetting dirty money will increase the burden of proof for prosecutors, say former officials.
Most U.K. lawyers have adjusted their policies and procedures to comply with the country's latest Money Laundering Regulations, but are unhappy about the burden of the new requirements, according to an online survey by the Law Society of England and Wales.
France's highest court has overturned a law requiring lawyers to report the suspicious activities of their clients related to money laundering, a provision of the European Union's Second Money Laundering directive, which France adopted by decree in 2006.
Banking attorneys are closely watching the trial of Miami lawyer Carlos Loumiet for allegedly helping to hide a massive bank fraud, a case they say could disrupt the independent review process often used to vet anti-fraud and anti-money laundering controls.
The U.S. Justice Department, in an indictment unsealed Thursday, accused Ben Kuehne and two other individuals of helping to disguise the origin of more than $5 million in payments from a narcotics trafficker to his defense attorney.
The Canadian government has published final rules extending the country's anti-money laundering and anti-terrorist financing laws to certain notaries, jewelers and the legal profession. The new rules also outline penalty guidelines for money laundering violations.
A ruling by the European Court of Justice upholding a requirement that lawyers report the suspicious activities of their clients in certain circumstances brings into relief how countries outside the European Union including the United States are dealing with gatekeeper initiatives.