News
Weekly Roundup: German Authorities Investigate UBS and Wirecard Bank, China Signals Support for Iran Sanctions, and More
printUBS AG, the Swiss banking giant in hot water for helping 17,000 U.S. citizens evade taxes, is facing further legal trouble abroad, news agencies reported this week. Germany's financial supervisory authority, BaFin, is investigating the bank in connection with an ongoing probe by Frankfurt prosecutors of a former UBS client who is suspected of fraud, breach of fiduciary trust and tax evasion, according Reuters. More The bank, which paid a $780 million fine to the United States in February 2009, is at the center of a legal battle between the U.S. Justice Department and the Swiss government over the bank's...
TO READ THE FULL STORY
Related News
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.
JPMorgan Chase drops a Milan account for the Holy See, Beijing police freeze nearly $800 million tied to at least six "underground" banks, and more.
Iran's central bank prepares to sue to win back $2 billion in frozen assets, the U.S. Treasury Department blacklists the heads of a money laundering ring based in Panama and Colombia, and more, in this week's news roundup.
A U.S. official's threat last month of economic sanctions against four Chinese banks is likely to be toothless given economic and enforcement hurdles, say sanctions analysts.
The Justice Department launches investigations into three Israeli banks and continues its probe into the financial network of R. Allen Stanford, in this week's news roundup.
The U.S. Treasury Department blacklists four Venezuelan government officials, authorities in Nepal finalizing a five-year national anti-money laundering strategy, and more, in this week's roundup.
Afghanistan arrests two former top bank officials for alleged graft, Taiwan brings corruption charges against a second former president and FATF advises countries on how to evaluate the risks of alternative financial service providers, in this week's news roundup.
President Obama signed a renewal of the Patriot Act into law late Thursday and the U.S. State Department cracked down on international companies for their ties to Iran, in this week's news roundup.
Dubai fines the UAE arm of E-Trade, and a source familiar with the U.S. Justice Department investigation of HSBC says that prosecutors may target individual bankers, in this week's news roundup.
The White House targets top Syrian officials for human rights violations as the United Nations mulls naming countries that haven't enforced Libyan sanctions, in this week's news roundup.
Antiguan officials are questioning the U.S. decision to shut down an online gambling Web site, and Indonesia investigators say that potential AML violations at Citibank may be tied to an embezzlement case, in this week's news roundup.
The OTS dings an Indiana bank for BSA violations as RBS gets an extension on its deal with the U.S. Justice Department, in this week's news roundup.
The Office of Thrift Supervision issues a cease-and-desist order against a California bank for BSA violations, a London lawyer gets sentenced for seven years in prison for money laundering and other crimes, in this week's roundup.
The OCC and OTS issue AML-related enforcement actions, Nigeria passes counterterrorism bill into law, and more, in this week's roundup.
U.K government questions the wisdom of enforcing the Bribery Act, U.S. Department of State prepared to impose stricter sanctions against Belarus if protesters imprisoned following the December reelection of President Lukashenko are not released, and more, in this week's roundup.
Several large U.S. banks have closed embassy accounts potentially linked to corruption, a Russian official accuses a U.S. charity of terrorist ties and more, in this week's news roundup.
The OCC slaps an Atlanta, GA-based bank with a consent order for BSA deficiencies, a California woman is charged with providing material support for a terrorist group, and more, in this week's roundup.
Transparency International downgrades the United States in its annual corruption index, the FDIC dings a California bank for anti-money laundering troubles and more, in this week's news roundup.
Weekly Roundup: Italy Investigates Vatican Priests, Afghanistan to Audit All Private Banks, and More
While U.S. regulators are pushing national banks to hire regional Bank Secrecy Act (BSA) officers, some smaller banks have yet to hire a single full-time compliance officer, the U.S. Treasury Department said this week.
The U.S. Justice Department convicts the former head of a New York bank for TARP fraud, FinCEN delays its deadline on mutual fund BSA programs and more in this week's news roundup.