EU finance ministers agreed to draft plans for strengthening oversight of how EU member states enforce anti-money laundering rules following revelations of financial crime scandals in Latvia and Malta, Reuters reported, citing a letter from Portuguese Finance Minister Mario Centeno. More and More Dutch bank ING, which is the subject of a criminal investigation for allegedly engaging in corruption and money laundering, disclosed that it expects more information on the timing of any potential penalties tied to the probe to be revealed later this year, according to Reuters. More Russian Energy Minister Alexander Novak said he met with U.S. Treasury...
Plans by the Royal Bank of Scotland to sell its U.S. subsidiary Citizens have been delayed due to ongoing AML compliance problems and potential sanctions violations, Turkey, Myanmar and Kenya could be added to the FATF list of noncompliant nations, and more, in the midweek roundup.
Finra fined GBM International $20,000 for failing to conduct due diligence on foreign mutual funds, JPMorgan is expected to pay the U.K. approximately 500 pounds to settle claims that the institution evaded taxes on corporate bonuses, and more, in the midweek roundup.
The U.N. Security Council is preparing a draft resolution to comply with the terms of an international nuclear accord, Italy's FIU said that STRs filed by banks jumped 10 percent last year to an all-time high of 71,700, and more, in the midweek roundup.