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Midweek Roundup: Switzerland to Limit Cash Payments, Horse Meat Sales Linked to Laundering, and More
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The largest Bitcoin exchange company is accused of operating as an unlicensed money transmitter, Jersey will amend AML legislation to comply with revamped Financial Action Task Force standards, and more, in the midweek roundup.
The Bank of China closed an account maintained for North Korea's Foreign Trade Bank, the alleged perpetrators behind Estonia's largest ever money laundering scheme have been identified, and more, in the midweek roundup.
French authorities are probing HSBC for its alleged role in aiding tax evaders, the European Union lifted most of its sanctions against Myanmar, and more, in the midweek roundup.
A Miami couple was arrested for alleged money laundering tied to a $35 million fraud scheme, federal prosecutors began jury selection in Austin, TX in a drug money laundering case involving racehorses, and more, in the midweek roundup.
A Guatemalan appeals court upheld a 2011 ruling that cleared ex-President Alfonso Portillo of allegations that he embezzled $15 million, Lithuania needs to boost counterterrorist financing measures and strengthen controls over politically exposed persons, and more, in the midweek roundup.
Mexican cartels are increasingly moving operatives into the U.S. to expand money laundering operations, firms in the United Kingdom have paid over one billion pounds in fines to settle fraud charges since 2007, and more, in the midweek roundup.
Bank secrecy standards in Austria are being put under the microscope, the U.S. Justice Department is seeking information from Liechtenstein on foundations allegedly tied to American tax evasion, and more, in the midweek roundup.
The Treasury Department blacklisted North Korea's Foreign Trade Bank, the United Kingdom will ask the EU to blacklist Lebanese group Hezbollah, and more, in the midweek roundup.
Italian authorities arrested 20 individuals for alleged money laundering connected to organized crime, twenty out of 22 men convicted for their roles in one of the biggest bank fraud schemes in Afghanistan's history were given prison sentences, and more, in the midweek roundup.
Pakistan's National Assembly approved new counterterrorist financing legislation, Italian organized crime groups are utilizing Switzerland's proximity to launder illicit funds, and more, in this week's roundup.
Cyprus rejected a Europol proposal to hire a private firm to gauge its anti-money laundering compliance, the IRS handed out 128 whistleblower awards in fiscal year 2012, and more, in the weekly roundup.
Weekly Roundup: Turkey Approves Terror Finance Bill, EU Court Lifts Sanctions on Iran Bank, and More
A number of key provisions of the Iran Threat Reduction and Syria Human Rights Act of 2012 took effect, the European Union General Court ordered sanctions against Iran's Bank Saderat to be lifted, and more, in the weekly roundup.
Investigators say that Mexican drug cartels have been involved in the sale of counterfeit NFL merchandise in flea markets and parking lots, a judge ordered Bank of Tokyo-Mitsubishi UFJ Ltd. to forfeit more than $260,000 held for Iran-based entities to plaintiffs, and more.
Austria and Liechtenstein agreed to exchange tax-related information, Casino group Las Vegas Sands Corp. has ceased executing international money transfers for wealthy gamblers, and more, in this week's roundup.
The European Commission is giving Switzerland six months to adopt automatic tax information exchange with EU members, the U.S. Senate Banking Committee will soon hold an AML hearing, and more, in the weekly roundup.
French prosecutors plan to launch an investigation into whether France's Budget Minister committed tax fraud, Australia expanded sanctions against Iran, and more, in this week's roundup.
The U.S. Treasury Department blacklisted two rebel groups from the Democratic Republic of the Congo, Kuwait published measures bringing the insurance sector, jewelry stores and investment companies under AML obligations, and more, in the weekly roundup.
OFAC finalized amendments to the Iranian Transactions and Sanctions Regulations, the daughter of Ukraine's former premier Yulia Tymoshenko called for international sanctions on officials responsible for her mother's imprisonment, and more, in the weekly roundup.
The brother of convicted Ponzi schemer Bernard Madoff was sentenced to 10 years in prison for falsifying investment records and fraud, Twenty-six individuals were arrested for their alleged involvement in a $70 million drug and money laundering ring, and more, in the weekly roundup.
The U.S. Justice Department seized nearly $7 million believed to be the laundered proceeds of an Internet gambling operation, an ex-Wells Fargo investment banker and two others raked in $11 million in an insider trading scheme, and more, in the weekly roundup.
