British officials and bankers have reached a breakthrough in recent days in their talks on how to better cooperate in financial crime cases, a top U.K. investigator said Thursday.
The U.S. House of Representatives Tuesday unanimously passed a bill aimed at foreign banks that provide financial services to Hezbollah, an Iran-backed, Lebanon-based Shiite militant group.
As U.S. officials and bankers debate the merits and drawbacks of an expected $10 billion sanctions settlement with BNP Paribas, their French counterparts are offering a more unified response: outrage.
The West's financial ties to Russia have given countries pause in considering further sanctions, a Roman judge dropped a money laundering case against the former head of the Vatican Bank and more, in this week's news roundup.
In announcing sanctions against Russian politicians and one bank Thursday, U.S. officials made clear that American financial institutions should prepare for more, and soon.
The financial clearing subsidiary of Deutsche Börse AG will pay the U.S. Treasury Department's sanctions enforcer $152 million for holding money in New York-based accounts on behalf of Iran's central bank.
The chairman of a Senate committee vowed Thursday to block additional sanctions against Iran in an effort to protect last month's multilateral accord to suspend portions of the country's nuclear program.
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 U.S. House of Representatives Wednesday approved legislation that would limit White House-granted waivers to nations that purchase oil from Iran under a 2011 sanctions law.
A transactional data handover mandated under a $102 million settlement disclosed Tuesday between the U.S. Justice Department and a defunct Beirut bank will likely lead to new financial crime investigations.
The U.S. Treasury Department has picked replacements for two recently vacated senior-level positions involved with the drafting of economic sanctions and anti-money laundering policies, according to an official.
As U.S. officials work to shield American prepaid cards from abuse by financial crooks, foreign-issued stored value products remain a relatively easy avenue to move money into the United States anonymously.
The establishment of an ombudsman to review when individuals and organizations sanctioned for terror ties can be removed from U.N. blacklists may not translate into fewer designees, say analysts.
At least two cases making their way through U.S. federal courts are challenging the U.S. Treasury Department's power to sanction individuals and organizations.
An EU decision Thursday to strike down a United Nations terror designation will mean more legal challenges by organizations accused of terror ties, say analysts.
A U.K. court of appeals said that the People's Mujahedin Organization of Iran should be removed from a British terror watch list.
As sanctions lists have grown exponentially, individuals and groups who have been named have challenged the process with varying degrees of success. For example, removals from lists maintained by the United States are few and far between, experts say.