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Midweek Roundup: U.K. Advances DPA Proposal, Bank of China Sued for $1 Billion for Alleged Hamas Ties, and More
printEight Israeli families filed a lawsuit against Bank of China over the institution's alleged services to members of Hamas, Dow Jones reported Tuesday. The relatives of high school students killed in a 2008 shooting, the plaintiffs are seeking $1 billion from the bank, citing dozens of wire transfers made on behalf of the blacklisted Palestinian group through the New York branch of the institution. More The European Union will draft a set of principles on how to best protect member-nations from crimes related to online gambling, European Commission officials said Tuesday. More The initiative, which won't directly call for new...
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The United Kingdom Thursday detailed a plan to settle alleged corporate violations of criminal laws without pursuing prosecutions -a strategy used by U.S. officials to exact billions from financial institutions.
Finra fined GBM International $20,000 for failing to conduct due diligence on foreign mutual funds, JPMorgan is expected to pay the U.K. approximately 500 pounds to settle claims that the institution evaded taxes on corporate bonuses, and more, in the midweek roundup.
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.
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.
Singapore is adding tax evasion to its list of predicate money laundering offenses, eighty foreign MSBs have registered with FinCEN since August, 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.