News
Midweek Roundup: HSBC Launches Committee to Fight Financial Crime, EU Court Orders Lifting of Bank Mellat Sanctions, and More
printHSBC Holdings Plc has appointed former U.S. Deputy Attorney General James Brien Comey, Jr. to its board of directors as a non-executive director, the bank said in a statement Wednesday. Comey, who has investigated international narcotics traffickers, will join the bank's Financial System Vulnerabilities Committee, which was also first announced Wednesday. The committee is intended to provide "governance, oversight and policy advice" on the bank's efforts to fight financial crime. More Over 1,000 family members of U.S. Marines slain in a 1983 suicide bombing in Beirut have asked a federal court to award them $2.66 billion in a lawsuit against...
TO READ THE FULL STORY
Related News
U.K. Supreme Court Ruling for Bank Mellat Will Not Weaken Iran Sanctions, Say Legal, Banking Sources
The United Kingdom's Supreme Court decision in favor of Bank Mellat, Iran's largest private bank, will not weaken overall sanctions on Iran, U.K. legal and banking sources said.
Mexican cartels are increasingly moving operatives into the U.S. to expand money laundering operations, firms in the United Kingdom have paid over one billion pounds in fines to settle fraud charges since 2007, and more, in the midweek roundup.
Bank secrecy standards in Austria are being put under the microscope, the U.S. Justice Department is seeking information from Liechtenstein on foundations allegedly tied to American tax evasion, and more, in the midweek roundup.
The Treasury Department blacklisted North Korea's Foreign Trade Bank, the United Kingdom will ask the EU to blacklist Lebanese group Hezbollah, and more, in the midweek roundup.
Italian authorities arrested 20 individuals for alleged money laundering connected to organized crime, twenty out of 22 men convicted for their roles in one of the biggest bank fraud schemes in Afghanistan's history were given prison sentences, and more, in the midweek roundup.
The U.S. Treasury Department sanctioned a Colombian national as a Specially Designated Narcotics Trafficker, serious tax crimes will become a predicate money laundering offense in Singapore starting July 1, and more, in the midweek roundup.
Approximately $763 billion in illicit funds circulated in and out of Russia between 1994 and 2011, former Florida Republican Party Chair Jim Greer pleaded guilty to money laundering, and more, in the midweek roundup.
Growing salaries for compliance personnel in conjunction with large enforcement actions are raising costs for financial institutions, Filipino lawmakers approved an anti-money laundering bill, and more, in the midweek roundup.
Japanese authorities arrested three employees of Tokyo-based shipping agent Ben Line Agencies for violations of Iranian sanctions, the United Nations increased sanctions targeting North Korea, and more, in the midweek roundup.
The head manager and AML officer of a Los Angeles-based MSB were both sentenced to prison for AML violations, a former Citigroup secretary was found guilty of money laundering and tax evasion, and more, in the midweek roundup.
Hong Kong officials are proposing amendments to legislation that would restrict the general public's access to information about private company directors, two former managers at Halifax Bank of Scotland were charged with corruption in the U.K., and more, in the midweek roundup.
Manhattan's U.S. Attorney's Office recovered approximately $3 billion in illicit proceeds in 2012, Nepal faces FATF blacklisting due to its failure to criminalize money laundering and terrorist financing, and more, in the midweek roundup.
The Philippines' Central Bank published AML guidance for bank boards, FinCEN extended the deadline for certain individuals filing FBAR reports, and more, in the midweek roundup.
The Central Bank of Ireland fined Community Credit Union Limited nearly $28,000 for AML violations, Nigerian cross-border cash couriers are using China and Dubai to launder funds, and more, in the weekly roundup.
Finra fined GBM International $20,000 for failing to conduct due diligence on foreign mutual funds, JPMorgan is expected to pay the U.K. approximately 500 pounds to settle claims that the institution evaded taxes on corporate bonuses, and more, in the midweek roundup.
The United Kingdom is ramping up efforts to tackle domestic and international tax evasion, several Geneva-based HSBC employees voluntarily resigned after a $130 million drug and money laundering scheme was uncovered by French and Swiss investigators, and more, in the midweek roundup.