News
Weekly Roundup: India Freezes PayPal Transfers, UAE Boasts About Compliance, New York Councilman Charged for Laundering, and More
printA week before the Financial Action Task Force is expected to issue a blacklist of jurisdictions with poor anti-money laundering controls, the United Arab Emirates is touting its compliance efforts. The Middle Eastern country is among the dozens that analysts say may be named by the intergovernmental group. More On Monday, the head of UAE's Anti-Money Laundering and Suspicious Cases Unit said that the country plans to sign 14 new memoranda of understanding with other nations in an effort to better share data on suspected money laundering and terrorist financing. Financial institutions in the UAE filed 1,729 suspicious transactions reports...
TO READ THE FULL STORY
Related News
European financial regulators are pushing for greater transparency in the art market, Switzerland-based Schroder & Co. Bank AG has resolved tax evasion-related charges with U.S. federal prosecutors, and more, in this week's roundup.
The decision by PayPal early last month to freeze the account of a British blogger reflects the compliance uncertainties companies face when processing donations, say consultants.
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.
Eight U.S. senators penned a letter to European Union leaders calling for an embargo on Iranian oil, the OECD released three reports criticizing Italy, Japan and Switzerland for inadequate anti-bribery controls of foreign public officials, and more, in this week's roundup.
The former leader of the Arellano Felix Organization drug cartel pleaded guilty to racketeering and money laundering conspiracy, former New Jersey rabbi Eliahu Ben Haim was sentenced to five years in prison for his role in a money laundering 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 Financial Crimes Enforcement Network penalizes a money transmitter $25,000 for structuring transactions, Sri Lanka's parliament approves two bills to strengthen anti-money laundering and counter-terrorist financing controls, and more, in this week's roundup.
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.
Former Holy Land Foundation leaders appear in court to appeal convictions, the United Kingdom announces charges against an individual for alleged Bribery Act violations, and more, in this week's roundup.
The United Nations is considering imposing tougher financial restrictions on Eritrea, a think tank in Ghana says 60 percent of all remittances in the country are sent through illegal channels, and more, in this week's roundup.
India proposes new anti-money laundering measures, two brothers are indicted in Miami over alleged laundering of drug proceeds, and more, in this week's roundup.
The Financial Crimes Enforcement Network warns about the risks involving Syrian PEP transactions, New Zealand issues new AML regulations, 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.
The Tunis Criminal Court convicts former President Zine al-Abidine Ben Ali for embezzlement, the Federal Deposit Insurance Corporation issues two consent orders for AML violations, and more, in this week's roundup.
The U.S. and Europe issue new sanctions against Iran and Libya, Transparency International calls on Kenya to implement anti-money laundering legislation pending since 2009, and more, in this week's 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.