News
Midweek Roundup: Australia Investigates ‘Significant’ Criminal Funds at Western Union, Finra Fines Firm $10,000 for AML Problems, and More
printAustralian law enforcement officials believe that a "significant portion" of the AUD $700 million Western Union moved in the last fiscal year may be criminal proceeds, the Sydney Morning Herald reported Tuesday. Investigators have also identified a "well-known Australian bank" that has remitted millions of dollars on behalf of Balkan organized figures, the newspaper reported. More The Financial Industry Regulatory Authority (Finra) fined Salt Lake City, UT-based ACAP Financial $10,000 and suspended its primary anti-money laundering officer, Gary Hume, for 45 days over the company's failure to investigate suspicious activity between January 2009 and June 2011. Finra also dinged the...
TO READ THE FULL STORY
Related News
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.
A federal district court in Miami sentenced a former director of international relations for Haiti's state-owned telecommunications company to nine years in prison, a former securities lawyer pleaded in New York to money laundering, and more, in the midweek roundup.
The European Union is set to impose tougher sanctions against Iran if it continues with its nuclear program, a former advisor of ex-French President Nicolas Sarkozy has been accused of laundering illegal campaign donations, and more, in the midweek roundup.
Prosecutors in South Korea requested an arrest warrant for the nation's former Knowledge Economy Vice Minister for alleged money laundering, a Philippines Senator pressed lawmakers to expedite the passing of laws that will boost the country's AML regime, and more, in the midweek roundup.
Former Mexican state treasurer Hector Javier Villarreal is being investigated for alleged money laundering and engaging in organized criminal activity, seven people were arrested in London for their suspected involvement with terrorist financing, and more, in the midweek roundup.
Two Venezuelan politicians may be tied to five people arrested for running an alleged $10 million money laundering scheme, loopholes in New Zealand's AML legislation often let criminals go unpunished, and more, in the midweek roundup.
French magistrate Guillaume Daieff has been appointed to investigate allegations that UBS AG helped its clients evade taxes, Kenya's Anti-Money Laundering Advisory Board approved the immediate opening of a center that will be devoted to combating money laundering, and more, in the midweek roundup.
France approved an investigator's request for an arrest warrant for the son of Equatorial Guinea's President Teodoro Obiang Nguema on money laundering charges, Uganda's Parliament is pushing to pass an anti-money laundering and counterterrorist financing bill, and more, in the midweek roundup.
MidWeek Roundup: Finra Fines Firm for Ponzi Ties, Lebanon Steps Up Crackdown on Launderers, and More
The OECD recommended that Hungary strengthen its detection and prosecution of foreign bribery, Saudi Arabia's Council of Ministers approved a new AML and counterterrorist financing law, and more, in the midweek roundup.
JPMorgan Chase drops a Milan account for the Holy See, Beijing police freeze nearly $800 million tied to at least six "underground" banks, and more.
The State Bank of Pakistan advised financial institutions to conduct enhanced due diligence procedures when establishing business relationships with charities, the OCC disclosed two separate consent orders for AML deficiencies, and more, in the midweek roundup.
The Financial Action Task Force said that China has improved its AML and counterterrorism financing regime, Saudi Arabia approved new AML and cyber crime prevention legislation, and more, in the midweek roundup.
Toronto Dominion Bank will pay $170 million to victims of South Florida Ponzi schemer Scott Rothstein, the U.S. has pressured Dubai-based Noor Islamic Bank to stop processing transactions relating to Iran's oil sales, and more, in the midweek roundup.
The FDIC asked financial institutions to proceed with caution when dealing with third-party payment processors, the owners of a Los Angeles company that sold stuffed toys were sentenced for helping drug traffickers launder money, and more, in the midweek roundup.
The U.S. Senate is investigating HSBC Holdings PLC for money laundering, a defendant in a FCPA case is requesting to have most of the charges against him dropped, and more, in the midweek roundup.