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Midweek Roundup: FATF Adds Three to Blacklist, Switzerland to Broaden AML Unit’s Powers, and More
printThe Paris-based Financial Action Task Force (FATF) added Ecuador, Vietnam and Yemen to its list of countries with strategic anti-money laundering (AML) deficiencies that have yet to commit to an action plan, the intergovernmental group said Monday, in a statement following a plenary meeting. More FATF also congratulated Argentina and Turkmenistan for significant improvements to their regimes. More The European Union tightened sanctions against Syria Tuesday in response to escalating violence in the country, blacklisting Syria International Islamic Bank and the nation's Ministry of Defense, among other entities. To date, 129 Syrian individuals and 49 entities have been blacklisted by...
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Germany's BaFin is reportedly investigating potential AML violations by Deutsche Bank, a U.K. court could order the British government to pay millions to compensate a blacklisted Iranian bank, and more, in this midweek roundup.
Russia's Economic Development Ministry have drafted a bill to strengthen AML measures in the country, a U.S. Justice Department probe of alleged sanctions violations at the Royal Bank of Scotland has led to the departure of a senior risk manager, and more, in the midweek roundup.
Officials in India are looking to strengthen anti-money laundering and terrorist financing controls, U.S. Reps. Elijah Cummings (D-MD) and Henry Waxman (D-CA) suspect Wal-Mart's Mexico branch of money laundering, and more, in the midweek roundup.
The Federal Reserve Board ordered Asian Bank to strengthen its written Bank Secrecy Act program, a former executive at Lloyds Banking Group admitted to orchestrating a fraud and money laundering scheme worth over $3 million, and more, in the midweek roundup.
Some countries may take years to fully implement the revised FATF recommendations, China's foreign minister spokesman protested U.S. sanctions against Bank of Kunlun Co., and more, in this weeks' roundup.
The world's wealthiest hid at least $21 trillion in tax havens by the end of 2010, Ethiopia's financial intelligence unit wants to amend the nation's AML law in order to meet international standards, and more, in the midweek roundup.
Qatar has addressed most of the deficiencies previously identified in its anti-money laundering regime, Finra fined Integrated Financial Planning Services, Inc. $32,500 for AML violations, and more, in the midweek roundup.
FinCEN will hold a public hearing on July 31 to discuss potential beneficial ownership-related due diligence rules, German tax authorities searched the homes of Credit Suisse clients over alleged tax evasion charges, and more, in the midweek roundup.
The FDIC dinged a Coral Gables, FL bank for BSA infractions, Vatican Bank defended its AML troubles and more, in this week's news roundup.
Midweek Roundup: FSA Probing CDD Violations at U.K. Banks, Vatican Bank Risks FATF Censure, and More
Uruguay's central bank released a national action plan aimed at curbing money laundering, the Philippines President signed two laws that strengthen the nation's AML and counterterrorist financing regimes, and more, in the midweek roundup.
Armenia's former Prime Minister and recently-elected parliament member Vartan Oskanian is accused of laundering money, a Swiss advocacy group is suing UBS AG for its ties to a corrupt Malaysian politician, and more, in the midweek roundup.
The son of former Zambian President Rupiah Banda was arrested for allegedly laundering money, investigations reveal that two sons of ex-Egyptian President Hosni Mubarak engaged in money laundering and corrupt practices, and more, in the midweek roundup.
Law enforcement officials in Northern Ireland arrested eight individuals for alleged money laundering, organized crime groups in the U.K. are using litigation and alternative dispute resolution to launder illicit proceeds, and more, in the midweek roundup.
A federal district court in Miami sentenced a former director of international relations for Haiti's state-owned telecommunications company to nine years in prison, a former securities lawyer pleaded in New York to money laundering, and more, in the midweek roundup.
The European Union is set to impose tougher sanctions against Iran if it continues with its nuclear program, a former advisor of ex-French President Nicolas Sarkozy has been accused of laundering illegal campaign donations, and more, in the midweek roundup.
Prosecutors in South Korea requested an arrest warrant for the nation's former Knowledge Economy Vice Minister for alleged money laundering, a Philippines Senator pressed lawmakers to expedite the passing of laws that will boost the country's AML regime, and more, in the midweek roundup.
Former Mexican state treasurer Hector Javier Villarreal is being investigated for alleged money laundering and engaging in organized criminal activity, seven people were arrested in London for their suspected involvement with terrorist financing, and more, in the midweek roundup.