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Weekly Roundup: Commerzbank AG Deal Reportedly Delayed, UBS Exec Claims No Knowledge of Tax Evasion, and More
printThe expected U.S. settlement with Commerzbank AG for alleged sanctions violations has been delayed, possibly for months, due to complications arising from a separate probe of the financial institution's transactions connected to the Olympus Corp accounting fraud, Reuters said, citing anonymous sources. The sanctions settlement is said to involve a $650 million penalty. More Manhattan U.S. Attorney Preet Bharara and New York federal prosecutor Loretta Lynch are among the top contenders to replace outgoing U.S. Attorney General Eric Holder and Deputy Attorney General James Cole, Bloomberg reported, citing individuals familiar with the matter. More Attorneys for Raoul Weil, the former...
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Germany's second-largest bank will pay $1.45 billion to U.S. law enforcement agencies and regulators and fire multiple employees to settle charges that it violated sanctions laws and anti-money laundering rules.
Tunisia will investigate 256 of its citizens who have secret HSBC accounts in Switzerland, Canada's Supreme Court ruled that lawyers should be exempt from filing STRs on their clients, and more, in this week's roundup.
Islamic State is using Bitcoin and the Dark Web to recruit and fundraise, European Union leaders are mulling blocking Russia from Swift, and more, in this week's roundup.
North Korea is demanding that South Korea lift sanctions as a condition for bilateral talks, Billionaire Rinat Akhmetov was questioned over his suspected involvement in terrorist financing, and more, in this week's roundup.
Argentina's central bank fined HSBC's regional affiliate $10 million for AML violations, three senior AML and risk management officials at the Royal Bank of Scotland Group PLC have left or are planning to resign, and more, in this week's roundup.
Argentine authorities searched HSBC Argentina's headquarters in a tax evasion probe, Bangladesh's FIU published AML guidance on risk assessments, and more, in this week's roundup.
Efforts by U.S. states to legalize Internet gambling beyond New Jersey, Delaware and Nevada have come to a standstill, India's Reserve Bank advised nonbanking financial companies that their KYC procedures should be tailored to levels of risk, and more, in this week's roundup.
President Obama signed a Russia sanctions bill that allows the White House to blacklist individuals who invest in Russian deep water, Italy arrested 17 people suspected of running an international money laundering ring, and more, in this week's roundup.
Bank of America will process BNP Paribas' barred U.S. dollar transactions, a French charity secretly funneled money to terrorist groups, and more, in this week's news roundup.
The White House is open to imposing sanctions on Venezuela after the failure of diplomatic efforts to secure electoral reform, federal law enforcement officials are investigating Wynn Resorts Ltd. for potential money laundering violations, and more, in this week's roundup.
U.S. officials are considering imposing asset freezes and travel bans on Libyan factions and individuals, authorities in France and China are joining efforts to track down assets parked by corrupt Chinese officials in France, and more, in this week's roundup.
An Oregon ballot proposal to legalize growth, possession and use of marijuana has a lot of backing, Moldova's judiciary is under scrutiny for the role some 20 judges allegedly played in a money laundering scheme, and more, in this week's roundup.
Federal prosecutors have accused Scranton-based Pennsylvania Coin, LLC of running illegal gambling operations in five counties, Moscow-based VTB and Sberbank have asked the EU Court of Justice to overturn sanctions levied against them, and more, in this week's roundup.
The deputy chief of the U.S. Justice Department's asset forfeiture and money laundering section will leave the position next month, Thailand is amending its anti-money laundering laws, and more, in this week's roundup.
Credit Agricole SA is nearing a final deal with U.S. officials over its alleged sanctions violations, Ukrainian separatists in the country's Donetsk region are in the process of creating their own currency, and more, in this week's roundup.
Arab Bank argues that the Hamas members it processed transactions for weren't blacklisted, banks offer mixed messaging on marijuana accounts, and more, in this week's news roundup.
Authorities are concerned that money launderers are using Myanmar's real estate sector, a study found that Swiss banks have lost $383 billion in the last six years partly due to fines, and more, in this week's roundup.
A new law approved by United Arab Emirates officials enhances the country's AML requirements, Hezbollah sanctions adopted by the U.S. House of Representatives last month could hurt Lebanon's banking sector, and more, in this week's roundup.
M&T Bank Corp. revealed it has spent more than $150 million boosting its AML program, the Asia Pacific Group on Money Laundering will allow North Korea to join the organization as an observer, and more, in this week's roundup.
A bill that would shift the oversight of MSBs to state regulators has passed the House of Representatives, Russia saw nearly $75 billion in capital flight in the first half of 2014, and more, in this week's roundup.