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Midweek Roundup: U.K. to Target Trade Finance Laundering, Citibank Goes to Baghdad, and More
printSwiss banks will be allowed to turn over data on accounts for American clients that have been transferred to other financial institutions as well as the identities of bank staff and lawyers as part of a proposed plan to cooperate with the U.S. Justice Department. Swiss officials said Wednesday that the financial institutions, which are the subject of a U.S. probe into tax evasion, can apply for individual permission to settle American demands. More The United Kingdom's Financial Conduct Authority (FCA) is considering taking regulatory action against banks that fail to stem money laundering via trade finance deals, the agency...
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