The Bank of Israel is set to fine two Israeli banks for AML problems, FinCEN and the SEC penalize a brokerage $50,000 and Japan introduces new sanctions against Iran, in this week's news roundup.
A New York grand jury Wednesday indicted alleged Russian arms trafficker Viktor Bout for using shell companies and New York banks to buy planes in violation of U.S. sanctions.
The Federal Reserve Board and a Florida financial regulator ordered a Miami branch of Israel's largest bank earlier this month to overhaul its anti-money laundering program within 60 days.
Israel's chief financial regulator ordered the country's third largest bank to pay nearly $1 million Monday over the institution's poor anti-money laundering controls.
Israel Discount Bank said costs related to an anti-money laundering compliance settlement with the U.S. government have escalated to nearly $56 million, or more than twice the size of a regulatory penalty assessed against the institution in 2005.
On charges that during a five-year period it had moved $2.2 billion in illicit money for Brazil money transmitters through its New York offices, Israel Discount Bank of New York may pay up to $25 million in civil money penalties.