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Midweek Roundup: U.S. Mulls Scrapping HSBC Deal, Maldivian Officials Linked to Laundering Scheme, and More
printU.S. officials are weighing criminal charges against HSBC in response to alleged trading infractions at its foreign-exchange desk-a move that would effectively negate its 2012 deferred prosecution agreement for anti-money laundering (AML) and sanctions violations, unnamed sources told Bloomberg. More The theft of billions of dollars from Malaysia's 1MDB could not have occurred without the complicity of numerous bankers and AML compliance failures by at least nine financial institutions, unnamed investigators told The Wall Street Journal. The scheme to siphon off the state funds relied at times on pressuring compliance officers. More Data obtained from smartphones and dozens of confidential...
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Bank of China plans compliance upgrades following New York's enforcement action against competitor, Iran finalizes first contract with Western energy firm, and more, in the midweek roundup.
One in four auditors worldwide say they have been pressured by corporate clients to alter the results of their findings, Hong Kong received nearly 60,000 suspicious transaction reports in the first nine months of 2016, and more, in the midweek roundup.
The U.K. FCA levied 27 enforcement actions against individuals in 2015, U.S. and U.K. authorities are investigating whether "mirror trades" conducted by Deutsche Bank's equity desk in Moscow helped wealthy Russians violate AML rules, and more, in the midweek roundup.
U.S. lawsuits brought by 9/11 victims against Saudi Arabia can proceed after American lawmakers overrode a veto by the Obama administration, federal prosecutors investigating the Standard Chartered's alleged involvement in a bribery scheme in Indonesia, and more, in the midweek roundup.
Reps. Ted Poe and Dana Rohrabacher introduced legislation calling for Pakistan to be blacklisted as a state sponsor of terrorism, financial institutions in Singapore filed over 30,000 STRs in 2015, and more, in the midweek roundup.
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.
German Chancellor Angela Merkel believes the EU should keep sanctions against Russia intact, Brazilian authorities are investigating banking transfers tied to an allegedly fraudulent Olympic ticket-selling scheme, and more, in the midweek roundup.
Swiss private bank Falcon has been blocked from taking on new business in Singapore, Turkey asked FATF members to freeze the assets and bank accounts of the Gülenist Group, and more, in the midweek roundup.
The Philippines launched a unit to develop new cybersecurity policies, U.S. lawmakers are considering several bills that would extend the Iran Sanctions Act so that "snapback" sanctions could be imposed, and more, in the midweek roundup.
Germany is prepared to ease sanctions against Russia within the year, HSBC has implemented new restrictions on the use of safety-deposit boxes at its Hong Kong branches, and more, in the midweek roundup.
Singapore's central bank revoked BSI Bank's license to operate in the city-state, about $11 billion in illegal proceeds derived from an estimated 23,000 crimes were transferred out of Russia last year, and more, in the midweek roundup.
American investigators believe an insider aided the theft of $81 million from Bangladesh Bank, Britain's David Cameron angers Nigerian officials ahead of an anti-corruption summit, and more, in this week's news roundups.
German officials intend to unveil measures to crack down on international tax havens, Brazilian President Dilma Rousseff vowed to fight efforts to impeach her over her alleged role in a massive money laundering scandal, and more, in the midweek roundup.
Russia plans to investigate whether the Russian nationals named in the Panama Papers violated any laws, officials in the Ukraine will probe President Petro Poroshenko over his ownership of three offshore companies with ties to Mossack Fonseca, and more, in the midweek roundup.
HSBC's independent compliance monitor has identified a number of potential regulatory lapses at the institution, criminals from around the world are increasingly turning to China to launder illicit funds, and more, in the midweek roundup.