News
Midweek Roundup: France’s Banks Shun Art Industry, Canada Investigates Suspicious Property Purchases, and More
printBNP Paribas, HSBC and other global banks with operations in France are increasingly closing the accounts of small and midsize dealers and shippers of art and antiques in response to new due diligence standards that categorize the businesses as high-risk, according to the Antiques Trade Gazette. More The headquarters of France's soccer federation was raided and evidence seized as part of an investigation of former FIFA president Sepp Blatter, who is suspected of involvement in the FIFA corruption and money laundering scandal, according to the Associated Press. More Colombian citizen Miguel Trujillo pleaded guilty in a Brooklyn federal court to...
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.
Barclays Plc is reviewing cash transactions linked to its operations in South Africa for signs of money laundering, the IMF concluded that Islamic finance does not pose a greater money laundering threat than that of conventional finance, and more, in the midweek roundup.
Japan's Financial Services Agency is expected to propose regulating virtual currencies as it does cash, French officials have completed a 5-year investigation of suspected tax evasion at UBS AG, and more, in the midweek roundup.
Spanish police searched the Madrid branch of ICBC for alleged money laundering, Ecuador plans to charge national soccer federation president Luis Chiriboga Acosta with money laundering, and more, in this week's 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.
Criminal gangs in the United Kingdom are recruiting teenagers on Facebook to move illicit funds, the UN and U.S. lawmakers are weighing new sanctions against North Korea, and more, in the midweek roundup.
Sen. Ben Cardin and other lawmakers will seek to extend the soon-to-expire Iran Sanctions Act for another 10 years, Swiss officials have frozen approximately $80 million of assets linked to 14 FIFA officials, and more, in the midweek roundup.
An internal review by Deutsche Bank AG has uncovered at least $10 billion in suspicious transactions in its Russian branches, Cyprus' central bank revoked the license of FBME Bank Ltd for undisclosed reasons, and more, in the midweek roundup.