Midweek Roundup: U.K. Seeks Use of Prosecution Agreements for Sanctions Violations, Germany Closes Canadian Bank, and More

The Financial Action Task Force (FATF) said in a largely positive mutual evaluation report that Italy should improve its efforts to fight abuses of cash reporting requirements by certain remittance services and criminalize so-called "self-laundering," in which criminals directly spend the illicit proceeds they've generated. FATF deemed Italy compliant or largely compliant with 37 of its 40 recommendations. More Italian authorities are stepping up efforts to recoup tax revenue from accountholders with banks in the Swiss state of Ticino, The Wall Street Journal reported. More Regulators in Germany have ordered the closure of the German arm of Canada's Maple Bank...