Somewhere in a controversial EU fee for the U.K. disclosed Thursday lies something like an old saw, only it's not about how crime doesn't pay but how it costs, and in unexpected ways.
Recent political turmoil and ever-rising regulatory expectations for banks have made it significantly tougher for British charities to send financial aid abroad, according to a survey.
An Islamic charity told by HSBC that its account would be closed in two months is considering fighting the British multinational bank's decision in court, but analysts say it will be difficult for it to win under U.K. law..
In the years since a high-profile mistrial in the prosecution of a Texas charity, counterterrorism financing officials have shifted their focus away from nongovernmental organizations and toward individuals sending money abroad.
A recent court ruling that disallowed the freezing of an Islamic charity's assets could signal a major change in how the United States sanctions suspected terrorist financiers, say former investigators.
A network of U.S.-based rabbis used charities to wash "at least" tens of millions of dollars of dirty money in exchange for ten percent commissions, federal investigators said Thursday.
The use of charities to evade taxes is "serious and increasing," robbing some countries of hundreds of millions of dollars per year, according to a European economic policy group.
A program aimed at assuring donors that their donations to Muslim charities will not be handed over to terrorists is unlikely to offer any protections to banks, say terrorism consultants and former regulators.
A World Bank study shows that financial institutions don't have enough resources to uncover transaction patterns for charities that would suggest links to terrorists.