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Midweek Roundup: Bank Leumi to Pay Nearly $300 Million in Tax Case, Prosecutors Call for U.S. Registry of Beneficial Owners, and More
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One of Israel's largest banks will pay $400 million to federal and state officials after admitting that it set up fake loans and corporations to help wealthy American clients stash their money abroad.
A deal to end longstanding sanctions against Iran is unlikely to come together ahead of a Nov. 24 deadline, some banks in Hong Kong are turning away American taxpayers because of FATCA requirements, and more, in the midweek roundup.
Britain's National Crime Agency is launching a coordinated crackdown on money laundering in the City of London, the EU Commission advanced proposals to member-states on deeper sanctions against Russia, and more, in the midweek roundup.
U.S. and EU officials are considering asset freezes and travel bans on the leaders of rebel groups in Libya, India's Reserve Bank issued simplified due diligence rules for low-risk customers, and more, in the midweek roundup.
Uganda launched a Financial Intelligence Authority to combat money laundering, terrorist financiers are increasingly using Twitter and Facebook to solicit donations for designated groups operating in Syria and other conflict zones, and more, in the midweek roundup.
French authorities are formally investigating UBS AG for money laundering violations, China and Macau have entered into an MOU to cooperate in the fight against money laundering, and more, in the midweek roundup.
Kenya is the easiest place in the world to form an anonymous shell company to launder illicit profits, France's FIU calls for controls on virtual currency, and more, in the midweek roundup.
Former French President Nicolas Sarkozy is suspected of corruption, SARs filed in Switzerland in 2013 reflect the growth of organized crime groups, and more, in the midweek roundup.
The Obama administration is preparing sanctions targeting Russia's financial, energy and defense industries, Iran is asking HSBC to process humanitarian aid-related transactions it has frozen, and more, in the midweek roundup.
M&T Bank Corp. was ordered to forfeit $560,000 for failing to file eight CTRs, a Malaysian Buddhist nun is suspected of laundering over $4.3 million, and more, in the midweek roundup.
Belgium has launched a money laundering investigation of Swiss Bank UBS AG, tens of thousands of financial institutions have registered under FATCA, and more, in the midweek roundup.
Hong Kong is expected to extend money laundering laws to lawyers, accountants, property agencies and jewelry shops, FATF will blacklist Afghanistan if the country doesn't soon adopt AML laws, and more, in the midweek roundup.
A former prime minister of Curacao was detained in the island-nation on suspicion of money laundering, four senior executives at a publically-traded real estate company in Israel were arrested for allegedly laundering money, and more, in the midweek roundup.
Job openings at London-based financial companies rose 67 percent in April, Egypt's President Adly Mansou approved an amendment to the country's AML law, and more, in the midweek roundup.
Singapore agreed to a Model 1 intergovernmental agreement to comply with FATCA, JPMorgan Chase is closing accounts and stopping credit card services for all current and former foreign government officials, and more, in the midweek roundup.
The U.K.'s SFO froze approximately $23 million in an investigation examining alleged corruption in Ukraine, seventy-nine individuals have been arrested in Israel for alleged drug trafficking and money laundering, and more, in the midweek roundup.
Bank and credit union regulators issued 165 enforcement actions in the first quarter of 2014, the United Arab Emirates amended draft AML legislation to expand the number of money laundering offenses, and more, in the midweek roundup.
Mexico will soon draft a sanctions list targeting drug traffickers and money launderers, South Africa's central bank fined four banks for AML deficiencies, and more, in the midweek roundup.
The U.S. Justice Department plans to take creative steps to combat the abuse of virtual currencies, Nigeria risks suspension from FATF if it fails to boost its AML legislation before June 1, and more, in the midweek roundup.
