The Bank of England reportedly exerts "strong pressure" on Russia's second largest bank, an arrested Zetas leader's sons tweet incriminating photographs, and more, in this week's news roundup.
Large banks need to clearly delineate which senior executives are responsible for Bank Secrecy Act compliance violations, the U.S. Comptroller of the Currency said in a speech Monday.
The rise of online vendors offering to buy bulk gift cards is drawing the attention of investigators who believe the nascent industry may serve as an avenue for money launderers.
An influential Senate subcommittee will hear testimony on tax evasion through offshore banks, Switzerland agrees to follow automatic data exchange standards and more, in this week's news roundup.
Last year, I told you not to believe any of that "best of years, worst of years" stuff à la Charles Dickens with regard to 2012. But if 2013 was less eventful than the prior year, every indication is that 2014 will be "challenging" for financial institutions and regulators.
The U.S. Justice Department seizes digital funds tied to an Internet black market, Republicans line up behind effort to fight FATCA and more, in this week's news roundup.
Ahead of expected anti-money laundering regulations for investment advisers, some private equity firms may find themselves subject to such oversight for a reason few would have guessed: their fee structures.
Lawmakers should expand financial safe harbor protections to allow banks to better share their suspicions about money laundering and its predicate crimes, a top U.S. regulatory official said Sunday.
Amid all of the political rhetoric and bombast that accompanied television coverage of the 16-day government shutdown last month, one question never seemed to get any airtime: what did it all mean for the financial compliance industry?
JPMorgan Chase launches AML SWAT team as the bank's legal costs mount, Turkey blacklists over 350 entities in an effort to comply with United Nations sanctions, and more, in this week's news roundup.
Federal officials will weigh whether financial institutions can bank medical marijuana shops, New York's financial regulators asks two financial consultancies for data and more, in this week's news roundup.
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.
The United States has done little to address gaps identified in 2006 by an international anti-money laundering watchdog, despite a follow-up national review expected within the next two years, say consultants.
As the United States continues its crackdown on foreign banks that aid American tax evaders, the role compliance officers can play in reporting the crime remains unclear, say bankers.
An IRS personnel reshuffle designed to combat offshore tax evasion coincides with an influx of over 800 new employees and will facilitate enforcement of a controversial tax law beginning in 2013, say analysts.
The head of a powerful U.S. Senate panel is pushing to include new corporate transparency measures as part of broader financial reform legislation, according to former and current staffers.
Information on tax evasion and asset recovery cases will likely top data-sharing requests filed by foreign governments with the United States over the next three to five years, say analysts.
It is an exciting time for IRS investigators who are now able to examine the UBS AG accounts of over 4,500 U.S. citizens suspected of hiding assets offshore, according to John Everett, a licensed criminal investigator and certified fraud examiner based in Agoura Hills, California.
As many as a dozen countries are expected to press UBS AG for information on tax evaders following the bank's settlement last week with the United States, say tax analysts.
Switzerland's largest bank agreed Wednesday to release details to the United States on 4,450 accounts held by U.S. taxpayers suspected of failing to report a total of $18 billion in revenue, the parties said.