News
Midweek Roundup: U.S. Accuses Horse Buyers of Cartel Laundering, Swiss Official Says IRS Probe Nearly Settled, and More
printThe U.S Justice Department accused 14 individuals Tuesday of laundering money for one of Mexico's drug cartels through a trade-based scheme that involved buying and racing horses. Los Zetas leaders Miguel Angel Trevino Morales and Omar Trevino Morales helped to mastermind a plan to invest in quarter horses purchased with dirty bulk currency, wire transfers and structured deposits. The money passed through accounts held at Bank of America, Compass Bank, Wells Fargo and American Express Bank International. More That same day, the U.S. Treasury Department's Office of Foreign Assets Control blacklisted Mexican national Francisco Antonio Colorado for providing the Morales...
TO READ THE FULL STORY
Related News
Germany's BaFin is reportedly investigating potential AML violations by Deutsche Bank, a U.K. court could order the British government to pay millions to compensate a blacklisted Iranian bank, and more, in this midweek roundup.
Officials in India are looking to strengthen anti-money laundering and terrorist financing controls, U.S. Reps. Elijah Cummings (D-MD) and Henry Waxman (D-CA) suspect Wal-Mart's Mexico branch of money laundering, and more, in the midweek roundup.
The Federal Reserve Board ordered Asian Bank to strengthen its written Bank Secrecy Act program, a former executive at Lloyds Banking Group admitted to orchestrating a fraud and money laundering scheme worth over $3 million, and more, in the midweek roundup.
Some countries may take years to fully implement the revised FATF recommendations, China's foreign minister spokesman protested U.S. sanctions against Bank of Kunlun Co., and more, in this weeks' roundup.
The world's wealthiest hid at least $21 trillion in tax havens by the end of 2010, Ethiopia's financial intelligence unit wants to amend the nation's AML law in order to meet international standards, and more, in the midweek roundup.
Qatar has addressed most of the deficiencies previously identified in its anti-money laundering regime, Finra fined Integrated Financial Planning Services, Inc. $32,500 for AML violations, and more, in the midweek roundup.
FinCEN will hold a public hearing on July 31 to discuss potential beneficial ownership-related due diligence rules, German tax authorities searched the homes of Credit Suisse clients over alleged tax evasion charges, and more, in the midweek roundup.
The FDIC dinged a Coral Gables, FL bank for BSA infractions, Vatican Bank defended its AML troubles and more, in this week's news roundup.
The European Union tightened sanctions against Syria, Switzerland said that it will widen the power of its anti-money laundering unit, and more, in the midweek roundup.
Midweek Roundup: FSA Probing CDD Violations at U.K. Banks, Vatican Bank Risks FATF Censure, and More
Uruguay's central bank released a national action plan aimed at curbing money laundering, the Philippines President signed two laws that strengthen the nation's AML and counterterrorist financing regimes, and more, in the midweek roundup.
The son of former Zambian President Rupiah Banda was arrested for allegedly laundering money, investigations reveal that two sons of ex-Egyptian President Hosni Mubarak engaged in money laundering and corrupt practices, and more, in the midweek roundup.
Law enforcement officials in Northern Ireland arrested eight individuals for alleged money laundering, organized crime groups in the U.K. are using litigation and alternative dispute resolution to launder illicit proceeds, and more, in the midweek roundup.
A federal district court in Miami sentenced a former director of international relations for Haiti's state-owned telecommunications company to nine years in prison, a former securities lawyer pleaded in New York to money laundering, and more, in the midweek roundup.
The European Union is set to impose tougher sanctions against Iran if it continues with its nuclear program, a former advisor of ex-French President Nicolas Sarkozy has been accused of laundering illegal campaign donations, and more, in the midweek roundup.
Prosecutors in South Korea requested an arrest warrant for the nation's former Knowledge Economy Vice Minister for alleged money laundering, a Philippines Senator pressed lawmakers to expedite the passing of laws that will boost the country's AML regime, and more, in the midweek roundup.
Former Mexican state treasurer Hector Javier Villarreal is being investigated for alleged money laundering and engaging in organized criminal activity, seven people were arrested in London for their suspected involvement with terrorist financing, and more, in the midweek roundup.
Two Venezuelan politicians may be tied to five people arrested for running an alleged $10 million money laundering scheme, loopholes in New Zealand's AML legislation often let criminals go unpunished, and more, in the midweek roundup.