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Midweek Roundup: Caesars Money Laundering Payout Expected, Justice May Cancel UBS AG’s Non-Prosecution Agreement, and More
printRepresentatives of casino operator Caesars Entertainment Corp. met with federal regulators last month and offered to pay between $12 million and $20 million to settle a money-laundering probe launched by the Financial Crimes Enforcement Network (FinCEN), according to a regulatory filing. The company, which owns Caesars Palace in Las Vegas, first disclosed the FinCEN investigation in October 2013. More and More The U.S. Justice Department may jettison its December 2012 agreement not to prosecute UBS AG for participating in a scheme with five other banks to rig the London interbank offered rate (Libor), Bloomberg reported Tuesday. In a speech delivered...
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Swiss banking giants Credit Suisse and UBS AG are ramping up their efforts to secure business from wealthy Asian clients, Standard Charted hired former OFAC attorney Steve Munro to direct its sanctions compliance efforts, and more, in the midweek roundup.
Western Union will commit additional resources beyond the $250 million it spends annually to prevent fraud and money laundering, the Dubai Financial Services Authority fined Arqaam Capital $50,000 for unspecified AML violations, and more, in the midweek roundup.
The suspected father-in-law of former Zetas cartel boss Omar Treviño was arrested on criminal conspiracy and money laundering charges, Iraq's parliament is expected to approve an AML bill that will help bring the nation in line with international standards, and more, in the midweek roundup.
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