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Weekly Roundup: Barclays to Exit U.K. Remittance Business, Vatican Bank Inquiry Finds ‘Clear Failings,’ and More

London-based Barclays Bank will close accounts for some 250 money services businesses by July 10, citing concerns that the companies could be unwitting accomplices to money launderers and terrorist financiers, Financial Times said Thursday. Experts contend the move will affect the Somali community, which sends $1.2 billion annually from the U.K. to the war torn nation. More An individual alleged to be part of a $230 million tax fraud has been charged with embezzling $132 million, Moscow Times reported, citing Kommersant. Olga Tsymai, who formerly worked as a tax inspector, is accused of being part of a criminal group that...

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