News
Weekly Roundup: Indonesia Launches Citibank Investigation, U.S. Blacklists North Korean Bank, and More
printIndonesian officials are investigating allegations of money laundering through Citibank accounts controlled by several public officials, the Jakarta Post reported Friday. The accounts, which had suspiciously large balances, could potentially be related to a purported embezzlement scheme by Inong Malinda, a former high-value client manager at the U.S.-based bank, an Indonesian government official cited by the newspaper said. Malinda is accused of stealing approximately $2 million from Citibank customers and laundering the funds through purchases and an investment company. More The same week that the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) fined a small Minnesota tribal casino $250,000...
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.
India is investigating Adani Ports & Special Economic Zone Ltd. over alleged money laundering violations, SARs filed by casinos and card clubs have increased since 2004, 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 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.
Israel's Attorney General announces plans to indict the country's foreign minister on money laundering charges, Danish scientist indicted for wire fraud and money laundering, and more, in this week's roundup.
OFAC delists an ex-member of Moammar Gadhafi's regime, Argentina's President presses lawmakers to pass AML legislation, and more, in this week's 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 Federal Deposit Insurance Corporation issues a consent order on a California bank for BSA deficiencies, the Ukraine approves a new national anti-money laundering strategy, and more, in this week's roundup.
The Internet Gambling Regulation, Consumer Protection and Enforcement Act is introduced by Representative John Campbell, Antigua & Barbuda defends its AML regime after publication of State Department report, and more, in this week's 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 Financial Crimes Enforcement Network issues its third enforcement action for the year, Nigeria's Senate approves new anti-money laundering legislation, and more, in this week's roundup.
The White House announces plans to sanction Libya, the Federal Deposit Insurance Corp. issues two enforcement actions due to Bank Secrecy Act violations, and more, 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.
Switzerland freezes former Egyptian President's funds, IRS grants tax evaders another opportunity to come clean, and more, in this week's roundup.