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Midweek Roundup: Compliance Officers See Bigger Raises, U.K. Funds May Have Gone to Ibori, and More
printEuropean financial institutions are raising salaries faster for compliance staff than for their account and relationship managers and other profit-earning bankers, according to a study cited by Bloomberg Wednesday. The average salary for a compliance officer in London rose nearly 13 percent in 2013, to $138,000, as opposed to the 6.1 percent increase granted to London's revenue-earning bankers over the same time period. More Multilateral negotiations over Iran sanctions may need to be extended beyond the July 20 deadline mandated by last year's joint plan of action, Al-Monitor reported. More U.S. businesses have lost between $134 and $175 billion in...
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German exports to Iran in the first eight months of this year rose 33 percent over the same period last year, Spanish singer Isabel Pantoja has been sentenced to two years imprisonment for laundering public funds illegally obtained by her ex-boyfriend, and more, in the midweek roundup.
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.
The Group of 20 nations agreed over the weekend to implement mechanisms to automatically exchange tax information, FinCEN completed its BSA IT Modernization project on schedule and under budget, 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.
Russian banks hit with expanded U.S. sanctions say the measures will have little impact on their business, Fintrac released two separate fines against MSBs for AML deficiencies, and more, in the midweek roundup.
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The Vatican appointed French financier Jean-Baptiste de Franssu to head its bank, Singapore issued guidelines on how financial institutions should comply with customer due diligence requirements, and more, in the midweek roundup.
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