U.S. federal prosecutors are preparing indictments that will accuse the North Korean government of orchestrating the siphoning of $81 million from the Bangladesh Bank's account with the Federal Reserve Bank of New York in February 2016 and using Chinese intermediaries to launder some of the funds, The Wall Street Journal reported. More Nearly $21 billion in suspicious funds from the "global laundromat" scheme linked to Russia entered the international financial system between 2010 and 2014 through Moldindconbank in Moldova and the now-defunct Trasta Komercbanka in Latvia, according to bank records obtained by the Organized Crime and Corruption Reporting Project and...
The Trump Organization allegedly partnered with corrupt local official to develop hotel in Azerbaijan that never opened, Russia plans to close more banks involved in illicit finance, and more, in the midweek roundup.
HSBC disclosed that its U.S. court-appointed monitor has voiced "significant concerns" about its AML efforts, Italian authorities fined Bank of China for money laundering violations, and more, in the midweek roundup.
The U.S. Justice Department's new FCPA chief previously called for more corruption-related prosecutions of individuals, U.K. banks want EU laws implemented before Brexit, and more, in the midweek roundup.
The EU's highest court upheld sanctions levied last year against Russia-based weapons manufacturer Almaz-Antey, U.S. senators called for new sanctions against senior Venezuelan officials, and more, in the midweek roundup.