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Midweek Roundup: JPMorgan Limits Correspondent Banking, Interpol to Investigate Alleged $1 Billion of Looted Libyan Money, and More
printJPMorgan Chase has temporarily stopped accepting new correspondent banking clients in response to anti-money laundering (AML) deficiencies identified by the U.S. Treasury Department's Office of the Comptroller of the Currency (OCC), Bloomberg reported Saturday. The OCC and JPMorgan entered into a consent order in January that criticized the institution for failing to identify suspicious activity. The bank is also reviewing its existing correspondent accounts. More The 9th U.S. Circuit Court of Appeals Friday overturned the conviction of Pete Seda, the Iranian-born former head of the Al-Haramain Islamic Foundation, the Associated Press reported. A court convicted Seda in 2010 of using...
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Japanese officials have increased pressure on Japan's organized crime groups, Singapore is conducting a national assessment to gauge money laundering risks, and more, in the midweek roundup.
Belgian authorities raided the homes of 20 HSBC customers as part of an tax evasion investigation, Swiss authorities furthered loosened bank secrecy standards, and more, in the midweek roundup.
Ireland's central bank fined XA MPS Financial Limited approximately $67,580 for AML violations, a court sentenced former Greek Defense Minister Akis Tsochadzopoulos to 20 years in prison for money laundering, and more, in the midweek roundup.
Finra fined a Columbus, OH-based firm $50,000 for AML violations, Bangladesh's FIU published a 1-year long AML action plan, and more, in the midweek roundup.
A New York art dealer pleaded guilty to money laundering and tax offenses, Brazil's Supreme Court voted 6-5 to accept the appeal of defendants found guilty of Brazil's largest political corruption case, and more, in the midweek roundup.
Bangladeshi officials are set to file tax evasion charges against a Nobel Peace Prize winner, the NCUA issued an enforcement action against North Dade Community Development Federal Credit Union for BSA violations, and more, in the midweek roundup.
Egypt's ouster of Mohamed Mursi's government has indefinitely stalled plans to return looted Egyptian assets held in Swiss bank accounts, Liechtenstein has adopted a draft law that revises the nation's bilateral double taxation agreement with Austria, and more, in the midweek roundup.
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.
Two men in a Miami federal court pleaded not guilty to terrorist financing charges, Singapore strengthened its counterterrorist financing regime, and more, in the midweek roundup.
The FBI is probing software company Ebix Inc. for suspected money laundering, a group of 76 U.S. senators urged President Obama to implement tougher sanctions against Iran, and more, in the midweek roundup.
Sixteen of HSBC's Irish clients have agreed to settlements with Ireland's tax authority for hiding millions of dollars in taxable assets, a former executive assistant at Citibank was sentenced to over four years in prison for money laundering, and more, in the midweek roundup.
The Swiss Federal Criminal Court stopped the transfer of banking data to Italy on the grounds the information sharing violated the rights of nine people accused of money laundering, the U.S. Treasury Department designated two Mexican nationals for their ties to Los Zetas cartel, and more.
The United Kingdom could ban bearer shares, the Reserve Bank of India fined 22 banks for AML violations, and more, in the midweek roundup.