News
Midweek Roundup: U.K. Abandons Plan to Ease Corporate Prosecutions, Fed Approves Long-Awaited M&T Acquisition, and More
printThe United Kingdom is dropping a plan to expand the Bribery Act to ease prosecutions of corruption corporations, citing "little evidence" of wrongdoing by businesses, the Financial Times reported. The U.K. Serious Fraud Office had lobbied for the law's expansion. More Organized crime groups are exploiting the migrant crisis by turning to human smuggling for profits, according to the Associated Press. Approximately 30,000 human smugglers may be operating in the European Union, a Europol official told the news agency. More Complicated pre-auction sales agreements and a general lack of transparency have raised cries for greater regulation of the art market...
TO READ THE FULL STORY
Related News
Swift has informed its clients that more financial institutions have fallen victim to cyberattacks tied to its payment messaging service, Japan is calling for the adoption of new U.N. sanctions against North Korea, and more, in the midweek roundup.
The head of Europol said that money launderers are exploiting Europe's record-levels of human smuggling, Credit Suisse has terminated its onshore booking platform services for clients in Russia, and more, in the midweek roundup.
Syrian President Bashar al-Assad's uncle is under investigation in France on suspicion of tax fraud and money laundering, Pakistan's commerce minister asked bankers to draw up proposals for facilitating transactions to Iran, and more, in the midweek roundup.
The EU extended sanctions imposed in response to Russia's annexation of Crimea and Sevastopol, KPMG resigned as FIFA's auditor, and more, in the midweek roundup.
Former Brazilian President Luiz Inacio Lula da Silva could escape arrest and imprisonment for alleged money laundering, the governor of Bangladesh's central bank resigned after computer hackers managed to steal $81 million, and more, in the midweek roundup.
Japan's Financial Services Agency is expected to propose regulating virtual currencies as it does cash, French officials have completed a 5-year investigation of suspected tax evasion at UBS AG, and more, in the midweek roundup.
The Kremlin has asked the U.S. Treasury Department to produce proof that Russian President Vladimir Putin is corrupt, a U.N. panel advised the Security Council to place travel bans and asset freezes on South Sudan's president, and more, in the midweek roundup.
The U.S. Office of the Comptroller of the Currency is preparing an enforcement action against the Bank of China, Guernsey is looking to raise the cap on AML fines, and more, in the midweek roundup.
An internal review by Deutsche Bank AG has uncovered at least $10 billion in suspicious transactions in its Russian branches, Cyprus' central bank revoked the license of FBME Bank Ltd for undisclosed reasons, and more, in the midweek roundup.
China asked the United States to more closely coordinate on terrorist financing cases, Greek police searched a UBS location in Athens for possible evidence of tax evasion, and more, in the midweek roundup.
New York federal jurors found former state Assembly Speaker Sheldon Silver guilty of money laundering, Russian officials plan to circulate a draft U.N. resolution targeting the funding portals of the Islamic State, and more, in the midweek roundup.
Bank of America has cut off its supply of U.S. banknotes to Angola, President Obama signed an executive order imposing asset freezes and visa restrictions against individuals in Burundi, and more, in the midweek roundup.
EU officials plan by June to issue recommendations for reducing the bloc's vulnerability to money laundering, Trinidad and Tobago is at risk of losing its membership in CFATF, and more, in the midweek roundup.
U.N. officials are considering targeted sanctions against leaders in Burundi, Israel's parliament is considering legislation that would expand the definition of "terrorist", and more, in the midweek roundup.
German authorities raided the headquarters of the country's top football association in Frankfurt, regulators in the Netherlands and Dubai have fined Dutch bank ABN Amro $625,000 and $640,000 respectively, and more, in the midweek roundup.
Former U.S. House Speaker Dennis Hastert pleaded guilty to violating federal banking laws by structuring cash withdrawals, residents of China are increasingly using underground banks to transfer funds abroad, and more, in the midweek roundup.
An advocacy group criticizes the U.K.'s visa program, New Mexico's Secretary of State pleads guilty to money laundering and embezzlement charges, and more, in this week's news roundup.
FBI officials and U.S. federal prosecutors are investigating Goldman Sachs' involvement in several transactions tied to 1MDB, HSBC whistleblower Herve Falciani failed to show up for trial in a Swiss court, and more, in the midweek roundup.
Swiss banking giants Credit Suisse and UBS AG are ramping up their efforts to secure business from wealthy Asian clients, Standard Charted hired former OFAC attorney Steve Munro to direct its sanctions compliance efforts, and more, in the midweek roundup.
Crédit Agricole will set aside an additional $384 million for a potential U.S. settlement of sanctions violations, the IMF recommended that Rwanda step up its efforts to prevent terror financing, and more, in the midweek roundup.