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Midweek Roundup: JPMorgan to Make ‘Unprecedented’ Compliance Effort, Prelate Outlines Vatican’s Parallel Banking, and More
printJPMorgan Chase Chief Executive Officer Jamie Dimon told employees in an e-mail to brace for an "unprecedented effort" to improve the institution's regulatory controls, Bloomberg reported. The bank has already committed nearly $2 billion and hired at least 5,000 employees to address legal fights and concerns about its trading practices and anti-money laundering efforts. More The U.S. Justice Department's Executive Office for U.S. Attorneys (EOUSA) overstated terrorism-related convictions in 2009 by 13 percent and in 2010 by 26 percent, according to a governmental watchdog report. The audit also found that EOUSA misreported a number of cases as terrorist-related when other...
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Terrorists in West Africa often use drug and weapons trafficking to fund their operations, the SEC entered into its first-ever deferred prosecution agreement with an individual, and more, in the midweek roundup.
A federal judge has agreed to sign off on a plan to settle a civil money laundering case against SAC Capital Advisors LP, France will remove Jersey from its tax blacklist if the jurisdiction improves how it responds to data requests, and more, in the midweek roundup.
U.S. authorities are investigating Cantor Gaming, an affiliate of Cantor Fitzgerald, former U.S. Congressman Rick Renzi was sentenced to 36 months in prison, a Vancouver ATM allows users to exchange bitcoins for cash, and more, in the midweek roundup.
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.
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.
Iran is increasing its importation of alumina from China and India, Interpol is forming a task force to assist the repatriation of money stolen by the deposed government of Colonel Moammar Gadhafi, 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.
A French probe into HSBC has uncovered $5 billion in undeclared assets, HMRC advised U.K-based exchangers of Bitcoin that they do not have to register as money services businesses, and more, in the midweek roundup.