Brazilian prosecutors accused former President Luiz Inacio Lula da Silva of being the "top boss" in the massive corruption scandal, Taiwan's banking regulator fined Mega Financial Holding $317,000 for AML compliance failures, and more, in the midweek roundup.
U.S. officials are requiring several executives to resign their positions with Commerzbank as part of a DPA, the U.S. has lifted sanctions against Belorussian state-owned energy company Belorusneft, and more, in the midweek roundup.
The Royal Bank of Canada is closing its wealth management offices in Brazil, Chile and other South American nations, Hong Kong's FIU received more than 100 STRs each day in 2014, and more, in the midweek roundup.
Australia's Westpac Banking Corp. is exiting the global remittance business due to regulatory pressure, former Bitcoin Foundation Inc. executive Charlie Shrem was sentenced to two years in prison, and more, in the midweek roundup.
The United Arab Emirates blacklisted 83 Islamist groups as terrorists, Belgian prosecutors charged HSBC's Switzerland-based private banking unit with "serious and organized" fraud, and more, in the midweek roundup.
Russian lender VTB Bank will reduce its presence in London and New York in response to Western sanctions, Peru is planning to create a special commission to investigate claims that over 100 government officials have drug ties, and more, in the midweek roundup.
Eleven employees of Bahrain-based UAE Exchange were found guilty of laundering $930 million, a committee of Swiss lawmakers is lobbying for a referendum that could strengthen Switzerland's bank secrecy laws, and more, in the midweek roundup.
French prosecutors have dropped a money laundering investigation against an Iranian dissident group, a new set of AML rules is increasing the pressure on Chinese banks to flag suspicious activity, 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.
Russia's plans to develop a gambling zone along Crimea's border could result in an influx of dirty money, Ecuadoran lawmakers approved legislation last month to create a digital currency to be launched in October, 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.
Kenya is the easiest place in the world to form an anonymous shell company to launder illicit profits, France's FIU calls for controls on virtual currency, and more, in the midweek roundup.
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.
Former French President Nicolas Sarkozy is suspected of corruption, SARs filed in Switzerland in 2013 reflect the growth of organized crime groups, and more, in the midweek roundup.
The Obama administration is preparing sanctions targeting Russia's financial, energy and defense industries, Iran is asking HSBC to process humanitarian aid-related transactions it has frozen, and more, in the midweek roundup.
M&T Bank Corp. was ordered to forfeit $560,000 for failing to file eight CTRs, a Malaysian Buddhist nun is suspected of laundering over $4.3 million, and more, in the midweek roundup.
South Africa joined the bevy of countries that have signed onto FATCA, U.S. officials arrested 27 Mexican nationals for allegedly laundering money, and more, in this week's roundup.
Belgium has launched a money laundering investigation of Swiss Bank UBS AG, tens of thousands of financial institutions have registered under FATCA, and more, in the midweek roundup.
Hong Kong is expected to extend money laundering laws to lawyers, accountants, property agencies and jewelry shops, FATF will blacklist Afghanistan if the country doesn't soon adopt AML laws, and more, in the midweek roundup.
A former prime minister of Curacao was detained in the island-nation on suspicion of money laundering, four senior executives at a publically-traded real estate company in Israel were arrested for allegedly laundering money, and more, in the midweek roundup.