News
Midweek Roundup: House Approves Terror Finance Measures, Citibank Reportedly Weighs Venezuelan Closures, and More
printHouse lawmakers approved a legislative package that would increase funding for counterterrorist financing efforts, expand the scope of geographical targeting orders and require U.S. officials to report on their steps to cut off funding to militant groups. The bills were introduced by a congressional task force to fight terror finance. More Legislation that would have expanded the authority banks have to share data under Sec. 314 of the U.S. Patriot Act failed to obtain the supermajority approval necessary to be fast-tracked in the House, the Hill reported. The Libertarian caucus opposed the measure on grounds that it could give the...
TO READ THE FULL STORY
Related News
North Korean lenders continue using SWIFT, U.S. lawmakers push for congressional investigation of Deutsche Bank, and more, in the midweek roundup.
Reps. Ted Poe and Dana Rohrabacher introduced legislation calling for Pakistan to be blacklisted as a state sponsor of terrorism, financial institutions in Singapore filed over 30,000 STRs in 2015, and more, in the midweek roundup.
Dozens of U.S. and Cuban officials met with bankers from both nations last month, clients of Switzerland's Banca della Svizzera Italiana withdrew roughly $6.4 billion after news of 1MDB scandal broke, and more, in the midweek roundup.
Switzerland will soon give U.S. tax officials data on HSBC's private banking operations in the country, British parliamentarians called for the FCA to be stripped of its authority to punish banks, and more, in the midweek roundup.
French officials order UBS AG to turn over records linked to suspected tax evasion, U.S. lawmakers extend sanctions against Venezuela, and more, in this midweek news roundup.
Syrian President Bashar al-Assad's uncle is under investigation in France on suspicion of tax fraud and money laundering, Pakistan's commerce minister asked bankers to draw up proposals for facilitating transactions to Iran, and more, in the midweek roundup.
The EU extended sanctions imposed in response to Russia's annexation of Crimea and Sevastopol, KPMG resigned as FIFA's auditor, and more, in the midweek roundup.
EU officials are meeting with businesses to encourage them to do business with Iran, Israeli lawmakers approved a counterterrorism law, 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.