News
MidWeek Roundup: Justice Department Drops FCPA Case, Japan Gains Iran Sanctions Exemption, and More
printThe U.S. Justice Department dropped a major Foreign Corrupt Practices Act prosecution that targeted 21 executives for allegedly agreeing to pay an illegal "commission" to undercover agents, Reuters reported Tuesday. The department's decision was preceded by two hung juries and several acquittals won in the anti-bribery case. More Separately, the U.S. Chamber of Commerce's push to amend the FCPA has gathered support, according to a Feb. 21 letter to the Justice Department and Securities and Exchange Commission signed by the organization and 33 groups, including the West Virginia Bankers Association. More Japan reached an agreement with the United States to...
TO READ THE FULL STORY
Related News
Canada's FIU fined seven financial institutions in the past 10 months for AML violations, the Reserve Bank of India is now required to share suspected money laundering violations with other agencies, 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.
The U.S. Justice Department's long-awaited guidance for businesses complying with a foreign anti-bribery law will do little to change its enforcement even as it sets some minds at ease, say attorneys.
The European Union is set to impose tougher sanctions against Iran if it continues with its nuclear program, a former advisor of ex-French President Nicolas Sarkozy has been accused of laundering illegal campaign donations, and more, in the midweek roundup.
Two Venezuelan politicians may be tied to five people arrested for running an alleged $10 million money laundering scheme, loopholes in New Zealand's AML legislation often let criminals go unpunished, and more, in the midweek roundup.
France approved an investigator's request for an arrest warrant for the son of Equatorial Guinea's President Teodoro Obiang Nguema on money laundering charges, Uganda's Parliament is pushing to pass an anti-money laundering and counterterrorist financing bill, and more, in the midweek roundup.
MidWeek Roundup: Finra Fines Firm for Ponzi Ties, Lebanon Steps Up Crackdown on Launderers, and More
The OECD recommended that Hungary strengthen its detection and prosecution of foreign bribery, Saudi Arabia's Council of Ministers approved a new AML and counterterrorist financing law, and more, in the midweek roundup.
JPMorgan Chase drops a Milan account for the Holy See, Beijing police freeze nearly $800 million tied to at least six "underground" banks, and more.
The State Bank of Pakistan advised financial institutions to conduct enhanced due diligence procedures when establishing business relationships with charities, the OCC disclosed two separate consent orders for AML deficiencies, and more, in the midweek roundup.
The Financial Action Task Force said that China has improved its AML and counterterrorism financing regime, Saudi Arabia approved new AML and cyber crime prevention legislation, and more, in the midweek roundup.
Toronto Dominion Bank will pay $170 million to victims of South Florida Ponzi schemer Scott Rothstein, the U.S. has pressured Dubai-based Noor Islamic Bank to stop processing transactions relating to Iran's oil sales, and more, in the midweek roundup.
Proposals to bar Iranian financial institutions from a global interbank messaging service would impose additional costs on Iran's banks without entirely blocking them from accessing Western financial institutions.
Ireland's central bank announced its top ten priorities for 2012, Thailand faces potential Financial Action Task Force blacklisting, and more, in the midweek roundup.
Efforts by the United Nations to censure Syria fell through, financial institutions in India are using anti-money laundering compliance as a benchmark to measure senior management performance, and more, in the midweek roundup.
The FDIC asked financial institutions to proceed with caution when dealing with third-party payment processors, the owners of a Los Angeles company that sold stuffed toys were sentenced for helping drug traffickers launder money, and more, in the midweek roundup.
The U.S. Senate is investigating HSBC Holdings PLC for money laundering, a defendant in a FCPA case is requesting to have most of the charges against him dropped, and more, in the midweek roundup.