News
printRelated News
As U.S. officials and bankers debate the merits and drawbacks of an expected $10 billion sanctions settlement with BNP Paribas, their French counterparts are offering a more unified response: outrage.
The West's financial ties to Russia have given countries pause in considering further sanctions, a Roman judge dropped a money laundering case against the former head of the Vatican Bank and more, in this week's news roundup.
In announcing sanctions against Russian politicians and one bank Thursday, U.S. officials made clear that American financial institutions should prepare for more, and soon.
The financial clearing subsidiary of Deutsche Börse AG will pay the U.S. Treasury Department's sanctions enforcer $152 million for holding money in New York-based accounts on behalf of Iran's central bank.
The chairman of a Senate committee vowed Thursday to block additional sanctions against Iran in an effort to protect last month's multilateral accord to suspend portions of the country's nuclear program.
Amid all of the political rhetoric and bombast that accompanied television coverage of the 16-day government shutdown last month, one question never seemed to get any airtime: what did it all mean for the financial compliance industry?
JPMorgan Chase launches AML SWAT team as the bank's legal costs mount, Turkey blacklists over 350 entities in an effort to comply with United Nations sanctions, and more, in this week's news roundup.
Federal officials will weigh whether financial institutions can bank medical marijuana shops, New York's financial regulators asks two financial consultancies for data and more, in this week's news roundup.
Germany's BaFin is reportedly investigating potential AML violations by Deutsche Bank, a U.K. court could order the British government to pay millions to compensate a blacklisted Iranian bank, and more, in this midweek roundup.
The U.S. House of Representatives Wednesday approved legislation that would limit White House-granted waivers to nations that purchase oil from Iran under a 2011 sanctions law.
The U.S. Treasury Department's sanctions arm disclosed Thursday that it had fined JPMorgan Chase Bank N.A. over $88 million, the largest fine independently levied by the agency under 2007 penalty powers.
Banks that financed deals with subsidiaries of a blacklisted Beijing-based weapons manufacturer are likely to face increased scrutiny from the U.S. Treasury Department's sanctions enforcement arm, say analysts.
The U.S. Treasury Department is reorganizing its economic sanctions enforcement efforts to focus more on egregious violations that are subject to millions of dollars in penalties granted under a 2007 law.
The Obama administration is rethinking economic sanctions introduced under former President Bush and is likely to rollback some trade prohibitions as part of diplomatic negotiations, say former government officials.
U.S. sanctions regulators are planning to fine an Australian bank $20 million for allowing suspicious transactions in branches in New York and American Samoa, according to an Australian news report.
At least two cases making their way through U.S. federal courts are challenging the U.S. Treasury Department's power to sanction individuals and organizations.
Federal regulators are not giving banks any free passes when it comes to anti-money laundering compliance despite a flurry of loan-related enforcement actions, according to an analysis of recent penalty orders.
OFAC Director Adam Szubin spoke with reporter Matt Squire about the effect of targeted sanctions in the first of a two-part interview.
The U.S. Treasury Department outlined Monday how it intends to enforce new penalty powers against U.S. financial institutions and other companies that violate economic sanctions.
Betsy Sue Scott, former head of the civil penalties division, says a recent increase of the maximum fines for OFAC violations will better fit the punishment to the crime. Violators previously were only receiving a "slap on the wrist" for serious offenses, she says.
