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Midweek Roundup: SFO Amends Bribery Act Guidance, U.S. Senators Push for Stronger Iranian Sanctions, And More
printPresident Obama signed an executive order Tuesday implementing sanctions under the Iran Threat Reduction and Syria Human Rights Act of 2012. The law, which became official in August, adds penalties for those aiding Iran's petroleum, petrochemical, insurance, shipping and financial sectors. More Separately, Senator Mark Kirk (R-IL) and others are calling for stronger Iranian sanctions, Reuters reported Monday. Kirk is seeking to ban all international banks from conducting transactions with Iranian banks that are directly or indirectly tied to Iran's Central Bank. More U.S. politicians are also weighing sanctions that would curtail India's use of Turkey's Halkbank to route dollar...
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British companies hoping for a compliance reprieve from the U.K.'s key law against bribery could have a long wait ahead of them, with no promise of getting what they've asked for, say attorneys.
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.
The European Union is set to lift financial sanctions on Egypt and Tunisia and return frozen assets to each country, a former vice president of Canada's largest engineering company was indicted on fraud and money laundering charges involving $139 million, and more, in the midweek roundup.
The U.S. Treasury Department blacklisted a hawala with branches in Afghanistan and Pakistan and two individuals for their support of the Taliban, general insurance agencies in Guernsey will be exempted from anti-money laundering rules starting next year, and more, in the midweek roundup.
Jordan's ex-intelligence chief was sentenced to over 13 years for embezzling and laundering approximately $34 million in public funds, Singapore convicted 44 people of money laundering between 2010 and 2011, and more, in the midweek roundup.
The Central Bank of Iraq will soon issue new rules to tighten controls over money transfers, the U.S. and EU are urging reluctant Swiss officials to implement sanctions against Iran's oil industry and central bank, and more, in the midweek roundup.
Deutsche Bank confirmed rumors that it is under investigation for possible U.S. sanctions violations, a former Bank of Hapoalim chairman was indicted for fraud and money laundering in Israel, and more, in the midweek roundup.
The former head of the now defunct Brazilian lender Banco Cruzeiro do Sul was arrested on money laundering charges, a prominent Chinese businessman and at least 80 others were arrested in Spain for allegedly laundering over $1 billion, and more, in the midweek roundup.
Plans by the Royal Bank of Scotland to sell its U.S. subsidiary Citizens have been delayed due to ongoing AML compliance problems and potential sanctions violations, Turkey, Myanmar and Kenya could be added to the FATF list of noncompliant nations, and more, in the midweek roundup.
The Central Bank of Nigeria approved AML legislation that had been pending since 2009, Hong Kong financial institutions filed 29 percent more STRs in the first six months of 2012 than during the same period last year, and more, in the midweek roundup.
Standard Chartered Bank finalized its $340 million settlement with New York State , U.S. officials lifted sanctions against Myanmar's Mayflower Bank and Asia Wealth Bank, and more, in the midweek roundup.
Switzerland is investigating four Uzbek nationals with close ties to their country's president for possible money laundering, German lawmakers are likely to reject a proposed tax data exchange agreement with Switzerland ahead of parliamentary elections, and more, in the midweek roundup.
The Holy See hired Swiss lawyer Rene Bruelhart to help bolster the city-state's AML controls, Liechtenstein is weighing whether to enter a withholding tax agreement with Germany, and more, in the midweek roundup.
Afghanistan continues to transact with blacklisted Iranian banks and firms despite U.S. pressure, Argentina's new controls on international monetary flows took effect as part of a broader effort to curb tax evasion, and more, in the midweek roundup.
Bulgaria's national soccer leagues are intrinsically linked to organized crime groups, a senior Iranian military commander is suing the U.S. for blacklisting him, and more, in the midweek roundup.
Russia's Economic Development Ministry have drafted a bill to strengthen AML measures in the country, a U.S. Justice Department probe of alleged sanctions violations at the Royal Bank of Scotland has led to the departure of a senior risk manager, and more, in the midweek roundup.
Officials in India are looking to strengthen anti-money laundering and terrorist financing controls, U.S. Reps. Elijah Cummings (D-MD) and Henry Waxman (D-CA) suspect Wal-Mart's Mexico branch of money laundering, and more, in the midweek roundup.
The Federal Reserve Board ordered Asian Bank to strengthen its written Bank Secrecy Act program, a former executive at Lloyds Banking Group admitted to orchestrating a fraud and money laundering scheme worth over $3 million, and more, in the midweek roundup.