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Midweek Roundup: Manhattan DA Launches Unit to Trace Illicit Funds, Russia Withdraws License for Master Bank, and More
printNew York's District Attorney is funding a new unit to trace the international movement of illicit funds with a portion of the $3 billion garnered through monetary settlement agreements with foreign banks accused of violating economic sanctions, Bloomberg reported. The unit is expected to be operational by the end of the year. More Iran's state-owned National Iranian Gas Company could shut its doors due to financial losses imposed on it by economic sanctions, according to The Wall Street Journal. The sanctions have cut Iran's oil exports by nearly 50 percent since the beginning of 2012, and have resulted in the...
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U.S. and Manhattan officials have added three years to the terms of their original 2012 DPA of Standard Chartered Bank, Israel arrested 28 individuals suspected of facilitating a tax evasion scheme via UBS AG bank accounts, and more, in the midweek roundup.
U.S. House leaders will pick up a Senate bill that would impose new sanctions against Iran, German tax authorities are investigating over 100 clients of the Swiss arm of Israel's Bank Leumi, and more, in the midweek roundup.
Turkey's state-owned Halkbank plans to continue processing oil and gas payments on behalf of Iran, French authorities are investigating the comedian known as Dieudonné for allegedly laundering money, and more, in the midweek roundup.
A former Ohio deputy treasurer pleaded guilty to bribery and money laundering, Malta's financial intelligence unit is planning to conduct a national risk assessment, and more, in the midweek roundup.
Saudi Arabia's Council of Ministers approved a bill that strengthens controls over terrorist financing, Austrac fined an MSB Over $200,000 for failing to have its affiliates registered, and more, in the midweek roundup.
Vatican Bank has identified more than 100 suspicious transactions this year, a court sentenced former Goldman Sachs banker Elias Preko to over four years in prison for laundering $5 million, and more, in the midweek roundup.
The FDIC disclosed two consent orders for BSA violations, turmoil related to the Arab Spring has resulted in a rise in Tunisian money laundering, and more, in the midweek roundup.
Switzerland has repatriated $700 million looted by the late General Sani Abacha back to Nigeria, the Philippines' central bank has temporarily suspended KYC requirements for banks serving typhoon Yolanda victims, and more, in the midweek roundup.
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.
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.
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.