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Midweek Roundup: China May Miss Iran Sanctions Target, Former AML Informant Sues U.S. for Jail Time, and More
printChina must significantly scale back its purchase of Iranian oil in the last quarter of 2013 if it is to meet an unofficial target agreed to in order to win a waiver to U.S. sanctions, Reuters reported. Under American sanctions measures, China and other importers of Iranian oil must continue to reduce the purchases or face banking restrictions. More The EU Parliament said in a non-binding resolution that it should suspend its Terrorist Finance Tracking Program with the United States following disclosures that the U.S. National Security Agency accessed European bank data from Belgium-based banking consortium Swift. The resolution passed...
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Governmental documents published Monday cleared the way for foreign financial institutions to process limited transactions for Iranians but U.S. banks will be unlikely to relax their sanctions policies, according to experts.
Vatican Bank has identified more than 100 suspicious transactions this year, a court sentenced former Goldman Sachs banker Elias Preko to over four years in prison for laundering $5 million, and more, in the midweek roundup.
The FDIC disclosed two consent orders for BSA violations, turmoil related to the Arab Spring has resulted in a rise in Tunisian money laundering, and more, in the midweek roundup.
Switzerland has repatriated $700 million looted by the late General Sani Abacha back to Nigeria, the Philippines' central bank has temporarily suspended KYC requirements for banks serving typhoon Yolanda victims, and more, in the midweek roundup.
Iran's state-owned National Iranian Gas Company could shut its doors due to financial losses, a former Venezuelan state banking official pleaded guilty to money laundering, and more, in the midweek roundup.
Terrorists in West Africa often use drug and weapons trafficking to fund their operations, the SEC entered into its first-ever deferred prosecution agreement with an individual, and more, in the midweek roundup.
A federal judge has agreed to sign off on a plan to settle a civil money laundering case against SAC Capital Advisors LP, France will remove Jersey from its tax blacklist if the jurisdiction improves how it responds to data requests, and more, in the midweek roundup.
U.S. authorities are investigating Cantor Gaming, an affiliate of Cantor Fitzgerald, former U.S. Congressman Rick Renzi was sentenced to 36 months in prison, a Vancouver ATM allows users to exchange bitcoins for cash, and more, in the midweek roundup.
Belgian authorities raided the homes of 20 HSBC customers as part of an tax evasion investigation, Swiss authorities furthered loosened bank secrecy standards, and more, in the midweek roundup.
Ireland's central bank fined XA MPS Financial Limited approximately $67,580 for AML violations, a court sentenced former Greek Defense Minister Akis Tsochadzopoulos to 20 years in prison for money laundering, and more, in the midweek roundup.
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A New York art dealer pleaded guilty to money laundering and tax offenses, Brazil's Supreme Court voted 6-5 to accept the appeal of defendants found guilty of Brazil's largest political corruption case, and more, in the midweek roundup.
Bangladeshi officials are set to file tax evasion charges against a Nobel Peace Prize winner, the NCUA issued an enforcement action against North Dade Community Development Federal Credit Union for BSA violations, and more, in the midweek roundup.
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