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Midweek Roundup: Western Union Considering Use of Digital Currencies, Comptroller to Chair FFIEC, and More
printWestern Union is eyeing the use of digital currencies, such as Bitcoin, The Wall Street Journal said Monday, citing two executives of the company. More The move, which comes less than a year after the FBI published a report expressing money laundering concerns involving Bitcoin, would roughly coincide with criticism that the money services business is in danger of being criminally indicted for failing to comply with an anti-money laundering-related settlement. More and More Mexican cartels are increasingly moving operatives into the U.S. to expand money laundering operations, guard cash stash houses and commit other crimes, the Associated Press said...
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Russian banks hit with expanded U.S. sanctions say the measures will have little impact on their business, Fintrac released two separate fines against MSBs for AML deficiencies, and more, in the midweek roundup.
Money launderers working on behalf of Mexican cartels have moved southward after a deferred prosecution agreement between Western Union and Arizona gave investigators unprecedented access to remittance data in Northern Mexico, according to Vince Piano.
For the second time this year, the nation's largest money transmitter has asked Arizona for additional time to upgrade its anti-money laundering program, according to sources familiar with the matter.
Arizona has granted the nation's largest money transmitter an additional three months to improve its anti-money laundering compliance program and avoid criminal prosecution.
Former Mexican Governor Andres Granier is accused of money laundering, Pope Francis established a special commission to increase transparency at Vatican Bank, and more, in the midweek roundup.
Austria's central bank suspended its deputy governor following corruption allegations, a group of at least 1,173 shell companies in Russia is alleged to have conducted $24 billion in illegal transactions, and more, in the midweek roundup.
The U.S. Treasury Department sanctioned four Lebanese nationals for terrorist ties, the EU is looking to step up its fight against tax evasion by expanding the automatic exchange of information between member states' tax administrations, and more, in the midweek roundup.
Filipino Sen. Teofisto Guingona plans to introduce a bill that would require casinos in the country to report suspicious activity, the U.S. Treasury Department blacklisted a network of 37 companies, and more, in the midweek roundup.
Canada banned all imports and exports tied to Iran, the European Union agreed to drop an arms embargo on Syrian opposition, and more, in the midweek roundup.
Peruvian ex-President Alejandro Toledo denied allegations that he laundered money through real estate, money launderers are allegedly using Mauritius to evade taxes and illicitly transport funds to India, and more, in the midweek roundup.
The largest Bitcoin exchange company is accused of operating as an unlicensed money transmitter, Jersey will amend AML legislation to comply with revamped Financial Action Task Force standards, and more, in the midweek roundup.
The Bank of China closed an account maintained for North Korea's Foreign Trade Bank, the alleged perpetrators behind Estonia's largest ever money laundering scheme have been identified, and more, in the midweek roundup.
French authorities are probing HSBC for its alleged role in aiding tax evaders, the European Union lifted most of its sanctions against Myanmar, and more, in the midweek roundup.
A Miami couple was arrested for alleged money laundering tied to a $35 million fraud scheme, federal prosecutors began jury selection in Austin, TX in a drug money laundering case involving racehorses, and more, in the midweek roundup.
A Guatemalan appeals court upheld a 2011 ruling that cleared ex-President Alfonso Portillo of allegations that he embezzled $15 million, Lithuania needs to boost counterterrorist financing measures and strengthen controls over politically exposed persons, and more, in the midweek roundup.
The Reserve Bank of India confirmed that it is investigating three banks for potential money laundering violations, a forthcoming industry survey points to rising compliance salaries, and more, in this midweek news roundup.
The Treasury Department blacklisted North Korea's Foreign Trade Bank, the United Kingdom will ask the EU to blacklist Lebanese group Hezbollah, and more, in the midweek roundup.
Italian authorities arrested 20 individuals for alleged money laundering connected to organized crime, twenty out of 22 men convicted for their roles in one of the biggest bank fraud schemes in Afghanistan's history were given prison sentences, and more, in the midweek roundup.
Midweek Roundup: Switzerland to Limit Cash Payments, Horse Meat Sales Linked to Laundering, and More
Switzerland's Federal Council says it may limit cash purchases of property, jewelry and other assets, Iran appeals European Union sanctions imposed in March, and more, in this midweek roundup.