Ukraine's widespread protests and weakened political stability are likely to prompt nervous investors and corrupt officials alike to move their money abroad, say economic analysts.
Two lobbying groups are asking the U.S. Treasury Department to amend proposals that would require banks to close accounts and maintain additional records for three companies accused of aiding terrorists and money launderers.
Representatives from the financial industry have asked the U.S. Treasury Department to streamline a Patriot Act program that allows banks to share their suspicions with each other about client activity.
A recent spate of compliance fines and U.S. investigations has imposed renewed pressure on British banks to improve their anti-money laundering and sanctions programs, say industry sources.
In the wake of a high-profile congressional hearing, more than a dozen large financial institutions have amended how they share information with affiliate institutions in bank secrecy havens, say compliance professionals.
A recently adopted legislative amendment that would authorize punitive measures against foreign banks and countries that facilitate U.S. tax evasion faces significant opposition in the House of Representatives, say congressional sources and advocacy groups.
Looking back on a decade of efforts to block terrorist financing, former U.S. officials and investigators remember days that were hectic and exhilarating.
An anti-fraud company backed by several large American financial institutions is asking the U.S. Treasury Department whether it is legally protected to manage a shared database on suspected money launderers.
Dozens of U.S. banks have begun sharing suspicious transaction data without the use of formal bank-to-bank requests in an effort to better detect potential fraud and money laundering, say compliance officers.
Lawmakers proposed a measure Wednesday that would potentially prohibit banks from processing credit card transactions for merchants and maintaining correspondent accounts for financial institutions deemed vulnerable to money laundering and tax evasion.
Omissions in an intergovernmental group's lists of countries with lax anti-money laundering and counter terrorist financing controls may undermine the organization's effectiveness in fighting the crimes, say compliance consultants.
An influential financial crime watchdog group released Thursday a much-anticipated list of nearly 30 countries with anti-money laundering and counter terrorism financing deficiencies.
A blacklist expected to be published next week by an intergovernmental watchdog group has compliance officers wondering which jurisdictions will be named and what sort of changes it will bring.
The U.S. Treasury Department issued rules Friday broadening the types of law enforcement data requests banks can receive to include queries from foreign officials and investigations tied to additional crimes.
The Caribbean nation of Aruba is set to impose a raft of new anti-money laundering rules in an attempt to stave off the island's inclusion on an international blacklist that could be released next month.
A federal court's dismissal of a two-year old lawsuit against five Lebanese banks for allegedly providing financial services to Hizbollah could impact lawsuits against other banks facing similar cases.
U.S. federal and state regulators told French bank Societe Generale to strengthen the anti-money laundering controls of its New York branch, including its dollar-clearing operations.
Financial institutions adjusted well to August 2007 requirements that they scrutinize some correspondent relationships, according to a study by the U.S. Treasury Department.
With a newly elected president and Congress, many have argued that it's time to reassess the post-September 11, 2001 counter terrorism financing regime. Uniquely qualified to lead that discussion at the 14th Annual International Money Laundering Conference are Dennis Lormel and Michael German.
Devaluations of several of the world's top currencies in the past six months, some by nearly 30 percent, are prompting criminals to shift their assets into U.S. dollars, say analysts.