News
Midweek Roundup: Ex-Georgian Leader Accuses Credit Suisse of AML Lapses, EU Official Warns on Russian Bond Sale, and More
printFormer Georgian Prime Minister Bidzina Ivanishvili filed a criminal complaint accusing Credit Suisse of failing to implement sufficient anti-money laundering (AML) controls and thereby allowing an unnamed former wealth manager at the institution's Geneva branch to conduct fraudulent trades, Bloomberg reported. More Former Brazilian President Luiz Inacio Lula da Silva could escape arrest and imprisonment for alleged money laundering and corruption by accepting a cabinet position in President Dilma Rousseff's administration, The New York Times reported. As a cabinet minister, da Silva could only be tried in Brazil's highest court, which could prolong the case against him for years. More...
TO READ THE FULL STORY
Related News
Iraqi official claims that the Islamic State is nearing bankruptcy, Giuliani to defend gold trader accused of helping Iran evade U.S. sanctions, and more, in the midweek roundup.
Credit Suisse is set to forfeit around $110 million to Italian authorities to settle tax evasion-related charges, the EU is considering sanctions on military and government officials in the Democratic Republic of the Congo, and more, in the midweek roundup.
FinCEN imposed a $2.8 million monetary penalty against a Californian-based card club, House lawmakers approved legislation that would block a planned deal between Boeing and Iran Air, and more, in this week's roundup.
The Philippines launched a unit to develop new cybersecurity policies, U.S. lawmakers are considering several bills that would extend the Iran Sanctions Act so that "snapback" sanctions could be imposed, and more, in the midweek roundup.
Singapore's central bank revoked BSI Bank's license to operate in the city-state, about $11 billion in illegal proceeds derived from an estimated 23,000 crimes were transferred out of Russia last year, and more, in the midweek roundup.
JPMorgan Chase took steps to limit the number of employees with access to the bank's portal with Swift, North Korea has imposed new customer identification and suspicious activity reporting rules, and more, in the midweek roundup.
British regulators criticized Deutsche Bank AG for insufficiently verifying the identities of its clients, Sri Lanka will establish a panel to investigate possible misconduct by citizens whose names appear in the Panama Papers, and more, in the midweek roundup.
Qatar National Bank is investigating an alleged leak of some 1.4 gigabytes of data, former Citigroup broker James Van Doren has been barred from the securities industry, and more, in the midweek roundup.
Panamanian President Juan Carlos Varela is pushing for the adoption of new transparency rules, Brazil's former soccer chief Ricardo Teixeira allegedly used shell companies to buy a $7.4 million mansion, and more, in the midweek roundup.
HSBC's independent compliance monitor has identified a number of potential regulatory lapses at the institution, criminals from around the world are increasingly turning to China to launder illicit funds, and more, in the midweek roundup.
FIFA is investigating former German soccer star Franz Beckenbauer for allegedly participating in a bribery scheme, Credit Suisse and Palantir Technologies CV have cofounded a project to detect potential misconduct by bank employees, and more, in the midweek roundup.
The Kremlin has asked the U.S. Treasury Department to produce proof that Russian President Vladimir Putin is corrupt, a U.N. panel advised the Security Council to place travel bans and asset freezes on South Sudan's president, and more, in the midweek roundup.
The U.S. Office of the Comptroller of the Currency is preparing an enforcement action against the Bank of China, Guernsey is looking to raise the cap on AML fines, and more, in the midweek roundup.
Countries around the globe could suspend their economic sanctions against Iran by Monday, the UAE revoked the license of Al Zarooni Exchange for its alleged violation of AML rules, and more, in the midweek roundup.
German authorities raided the headquarters of the country's top football association in Frankfurt, regulators in the Netherlands and Dubai have fined Dutch bank ABN Amro $625,000 and $640,000 respectively, and more, in the midweek roundup.
Former U.S. House Speaker Dennis Hastert pleaded guilty to violating federal banking laws by structuring cash withdrawals, residents of China are increasingly using underground banks to transfer funds abroad, and more, in the midweek roundup.
More than $200 million in donations given last year to nongovernmental organizations in Kenya originated from unknown sources, FATF said in a report that terrorist groups are primarily funding themselves through traditional methods, and more, in the midweek roundup.
FBI officials and U.S. federal prosecutors are investigating Goldman Sachs' involvement in several transactions tied to 1MDB, HSBC whistleblower Herve Falciani failed to show up for trial in a Swiss court, and more, in the midweek roundup.
U.S. lawmakers will seek to impose additional economic sanctions on North Korea, former Nigerian oil minister Diezani Alison-Madueke was arrested on suspicion of corruption and money laundering, and more, in the midweek roundup.
FIFA officials permanently banned former Vice President Jack Warner for his alleged participation in a bribery scandal, China's FIU unit will sign a memorandum of understanding with FinCEN, and more, in the midweek roundup.