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Midweek Roundup: Whistleblower Says Banks Aiding Tax Evaders in Latin America, Germany Weighs New Terror Finance Controls, and More
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Countries around the globe could suspend their economic sanctions against Iran by Monday, the UAE revoked the license of Al Zarooni Exchange for its alleged violation of AML rules, and more, in the midweek roundup.
Australia's largest banks have told at least 17 virtual currency firms that they will close their accounts, illicit financial flows out of Russia from 1994 and 2012 exceeded $3.2 trillion, and more, in the midweek roundup.
Group of 20 members reaffirmed their commitment to combat terrorist financing, U.S. and EU officials have finalized an agreement to exchange personal data in counterterrorist financing investigations, and more, in the midweek roundup.
As Germany moves forward with plans to streamline account openings for hundreds of thousands of refugees, criminals are taking steps to exploit the process, a financial crime expert said Wednesday.
Western Union will commit additional resources beyond the $250 million it spends annually to prevent fraud and money laundering, the Dubai Financial Services Authority fined Arqaam Capital $50,000 for unspecified AML violations, and more, in the midweek roundup.
The suspected father-in-law of former Zetas cartel boss Omar Treviño was arrested on criminal conspiracy and money laundering charges, Iraq's parliament is expected to approve an AML bill that will help bring the nation in line with international standards, and more, in the midweek roundup.
U.S. officials extended temporary sanctions relief for Iran through July 10, Nigerian officials are exploring measures to curtail the inflow of undeclared foreign currency into the country, and more, in the midweek roundup.
South Korea's FIU fined Woori Bank nearly $2 million for failing to report around 300 transactions, the United Arab Emirates inked a deal to implement FATCA, and more, in the midweek roundup.
White House officials are mulling over whether to sanction Chinese hackers for theft of government records on 4-million employees, Sepp Blatter faces interrogation in the FIFA corruption probe, and more, in the midweek roundup.
The Holy See will submit information on Americans with Vatican bank accounts to the U.S., German investigators raided Deutsche Bank's headquarters in Berlin on suspicion of tax fraud in securities transactions, and more, in the midweek roundup.
Credit unions are increasingly vulnerable to money laundering, Standard Charted and Barclays have launched internal investigations of payments by FIFA officials, and more, in the midweek roundup.
Uzbekistan has drafted a law intended to crack down on the abuse of offshore jurisdictions, the EU and Switzerland signed an agreement to clamp down on tax cheats, and more, in the midweek roundup.
The EU Parliament officially endorsed the economic bloc's Fourth Anti-Money Laundering Directive, the Cuban government has established a relationship with an unidentified U.S. bank, and more, in the midweek roundup.
The U.S. Federal Reserve Board barred five former Credit Suisse bankers from employment in the banking sector, Europol and Spain's Guardia Civil arrested 32 Chinese citizens suspected of laundering over 300 million euros, and more, in the midweek roundup.
Switzerland is set to return roughly $19 million in confiscated assets to Brazil, China has received over 100 leads on the whereabouts of fugitive former officials accused of financial crimes, and more, in the midweek roundup.
The EU blacklisted 32 Iranian shipping companies and Tehran-based Bank Tajerat, Westpac, of Australia, became the latest bank to discontinue remittances to Somalia, and more, in the midweek roundup.
Commerzbank's Luxembourg wing will close the accounts of 400 suspected tax evaders, The Vatican signed a bilateral agreement with Italy to exchange financial data, and more, in the midweek roundup.
The EU is expected to blacklist 40 Iranian shipping companies for a second time following court rulings, few Australian companies are disclosing instances of foreign bribery and other forms of corruption, and more, in the midweek roundup.
Spanish authorities are investigating half a dozen former Venezuelan officials for laundering kickback money through Banca Privada d'Andorra, Thai officials are considering new AML legislation, and more, in the midweek roundup.
U.S. officials are requiring several executives to resign their positions with Commerzbank as part of a DPA, the U.S. has lifted sanctions against Belorussian state-owned energy company Belorusneft, and more, in the midweek roundup.
