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Weekly Roundup: India Backtracks on Iranian Sanctions, Cuomo Touts Regulatory Reform Initiatives, And More
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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.
The U.S. Senate is investigating HSBC Holdings PLC for money laundering, a defendant in a FCPA case is requesting to have most of the charges against him dropped, and more, in the midweek roundup.
The Indian government announced that it's looking into creating a "gaming regulator" to oversee casinos for AML compliance, a Miami woman was sentenced to nearly three years in prison for laundering money connected to $200 million Medicare fraud scheme, and more, in this week's roundup.
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.
The Office of the Comptroller of the Currency penalizes a BSA officer $5,000 for failing to file CTRs, Singapore moves to boost enforcement against money laundering, and more, in this week's 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.
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.
Congressional leaders struck a deal Thursday to reauthorize several controversial powers of the Patriot Act though June 1, 2015, including a provision that allows investigators to seize "tangible" records from financial institutions, the New York Times reported.
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.
Afghanistan's finance minister welcomes probe into whether he took payoffs from Kabul Bank, Argentina issues 22 new AML rules in response to international scrutiny, and more, in this week's roundup.
Canada's FIU hands out two small AML fines, U.S. plans to initiate thousands of new tax evasion cases and actor Sean Connery is tied to a money laundering probe, in this week's news roundup.
The European Union and the United States move ahead with negotiations over Swift interbank data and a New York court sentences an alleged terrorist financier to ten years in prison, in this week's news roundup.
Taxes were in the fore of the news this week, and not just because of the annual arrival of the April 15 filing deadline for tax returns. The U.S. Justice Department made headway in four separate cases against 11 suspected tax evaders with accounts at UBS AG and HSBC.
U.S. efforts to stifle al-Qaida's finances are paying off and Swiss financial institutions filed a record number of SARs in 2009, in this week's news roundup.
