News
Weekly Roundup: FDIC Dings Two Banks for AML Deficiencies, Arab Bank to Face Trial on Terrorist Finance Allegations, and More
printA terrorist financing lawsuit against Arab Bank will proceed to trial, Bloomberg reported. New York District Judge Nina Gershon rejected the bank's request to dismiss the case on Wednesday. The lawsuit alleges that Arab Bank facilitated payments to the families of suicide bombers for nearly 10 years. The trial will most likely take place in September or October, the news agency said. More The Federal Deposit Insurance Corporation issued a pair of consent orders Friday for Bank Secrecy Act violations. The FDIC ordered the Los Angeles-based State Bank of India to ensure independent testing of its BSA program and told...
TO READ THE FULL STORY
Related News
The OECD says Portugal needs to better enforce its anti-bribery laws, the U.S. Treasury Department voices concerns about Iranian investments in Georgia, and more, in this week's news roundup.
The vice-governor of Austria's central bank and eight others were charged with bribery and money laundering, ten money services businesses were raided by police in London on suspicion of money laundering, and more, in this week's roundup.
France has expanded its probe of whether UBS AG has helped clients evade taxes, two Liberty Reserve employees pleaded not guilty to money laundering and operating an unlicensed MSB, and more, in this week's roundup.
U.K. leaders intend to review whether facilitation should be legal again, CFATF warns countries about the risks of Belize, Guyana and Dominica, and more, in this week's news roundup.
Italian prosecutors seize $10.5 billion from one of Europe's wealthiest families, a judge questions HSBC's agreement with the U.S. Justice Department, and more, in this week's news roundup.
Fifteen Palestinian men were arrested for allegedly running a $55 million cigarette smuggling scheme, a proposal that aims to revive Argentina's economy could attract money launders, and more, in this week's roundup.
The brother of two drug cartel leaders was convicted of money laundering conspiracy, Sudan needs to revamp its overall AML and counterterrorist financing regime, and more, in this week's roundup.
President Barack Obama extended targeted sanctions against Myanmar for another year, Kenya approved regulations requiring money services businesses to register with the central bank, and more, in this week's roundup.
The Office of the Comptroller of the Currency issued enforcement actions against two banks for BSA violations, the son of Senegal's ex-president was charged with corruption tied to $1.4 billion in illicit assets, and more, in the weekly roundup.
A Kenyan politician has been charged with money laundering in Tanzania, the Reserve Bank of India will take action against ICICI Bank, HDFC Bank and Axis Bank for alleged money laundering violations, and more, in the weekly roundup.
A group of investigative journalists reveal the identities of thousands of suspected tax evaders, U.S. prosecutors increasingly turn to a civil fraud statute to prosecute money launderers, and more, in this week's news roundup.
Twenty people who tried to smuggle $13 million out of Moscow's Vnukovo airport were arrested on money laundering charges, former Florida GOP Chairman Jim Greer was sentenced to nearly two years in prison for theft and money laundering, and more, in this week's roundup.
The U.S. State Department and OFAC blacklisted a Mali-based group, Finra fined KJM Securities $20,000 for failing to develop and implement an adequate written AML program, and more, in the weekly roundup.
The OCC disclosed a consent order with North American Savings Bank for AML deficiencies, the FIUs of Japan and Sri Lanka signed a memorandum of understanding to exchange investigative information on money laundering, and more, in the weekly roundup.
The United Nations Security Council partially eased an arms embargo against Somalia, an aide to a former Indonesian Prosperous Justice Party chairman was charged with money laundering, and more, in this week's roundup.
Moroccan lawmakers are looking to criminalize terrorist financing, the Financial Action Task Force on Money Laundering in South America welcomed Cuba as its newest member, and more, in this week's roundup.
Pakistan's National Assembly approved new counterterrorist financing legislation, Italian organized crime groups are utilizing Switzerland's proximity to launder illicit funds, and more, in this week's roundup.
Cyprus rejected a Europol proposal to hire a private firm to gauge its anti-money laundering compliance, the IRS handed out 128 whistleblower awards in fiscal year 2012, and more, in the weekly roundup.
Weekly Roundup: Turkey Approves Terror Finance Bill, EU Court Lifts Sanctions on Iran Bank, and More
A number of key provisions of the Iran Threat Reduction and Syria Human Rights Act of 2012 took effect, the European Union General Court ordered sanctions against Iran's Bank Saderat to be lifted, and more, in the weekly roundup.