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Weekly Roundup: Hundreds of Medical Marijuana ATMs Shut Down, Russian Banks Challenge EU sanctions, and More
printThe former head of UBS AG's wealth management division in the Americas told jurors this week that his former boss, Raoul Weil, micromanaged the bank's efforts to help U.S. clients skimp on taxes, Reuters reported. Prosecutors have accused Weil of orchestrating the bank's management of $20 billion in American assets. More Swiss officials raided several banks Thursday morning in response to Germany's request for assistance in a fraud and tax evasion case against 30 people, including bank employees and attorneys, swissinfo.ch reported. More Polish officials detained an employee of Swiss private bank Vontobel as part of a probe into the...
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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.
Iran has generated $4.6 billion in revenues in the first six months of this year as a result of temporary sanctions relief, the former chairman of the Cayman Islands' Health Services Authority is accused of money laundering, and more, in this week's 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.
PayPal has strengthened controls over e-payments in Russia, the expected U.S. settlement with Commerzbank AG for alleged sanctions violations has been delayed, and more, in this week's roundup.
A U.S. appeals court reversed a lower court's decision to reject a whistleblower's lawsuit against JPMorgan Chase, Europol has warned that Russian gangs are planning to launch a $1 billion cyber heist on global financial institutions, and more, in this week's roundup.
London-based nonprofit group Global Witness published a report that cataloged 22 illicit finance cases involving U.S. shell companies, sanctions citing violence in Ukraine have caused more trouble for Europe than Russia, and more, in this week's roundup.
Singapore will bolster client identification requirements for exchangers of digital currency, Hong Kong's fifth richest man was sentenced to five years in jail for bribery and money laundering, and more, in this week's roundup.
Iran will soon receive its second tranche of funds once frozen under U.S. sanctions, the owner of the English soccer club Birmingham City was sentenced to six years in jail for money laundering, and more, in this week's roundup.
The FDIC handed out two consent orders for BSA violations, China's central bank imposes AML controls on its Shanghai Free Trade Zone, and more, in this week's roundup.
An influential Senate subcommittee will hear testimony on tax evasion through offshore banks, Switzerland agrees to follow automatic data exchange standards and more, in this week's news roundup.
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