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Weekly Roundup: Italian Officials Investigate Former Vatican Bank Chief, U.S. Blacklists Family of Sinaloa Leader, 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.
The U.K. OFT hit online lender MCO Capital Limited with an $850,000 penalty for AML violations, the UN Secretary-General urged the Security Council to impose financial sanctions against individuals and entities contributing to civil unrest in Mali, and more, in this week's roundup.
Two unnamed European men were arrested in Panama for allegedly laundering over $100 million, Hong Kong police arrested 130 individuals in a gang-related money laundering investigation, and more, in the weekly roundup.
Switzerland has frozen nearly $700 million belonging to ousted Egyptian President Hosni Mubarak, Israeli officials will introduce legislation next week to make tax evasion a predicate money laundering offense, and more, in this week's roundup.
The Netherlands is considering a number of measures to boost its confiscation of illicit proceeds, Bangladesh's central bank said that it has launched an investigation into two Islamic banks for alleged terrorist financing violations, and more, in this week's roundup.
Africa loses $333.778 billion annually to due to capital flight, Fiji's FIU received 728 STRs in 2011 and 318 of those reports were sent to law enforcement for further investigation, and more, in the weekly roundup.
An ex-federal prosecutor could be disbarred next month for secretly requiring now defunct American Express Bank International to fire one of its employees, the U.S. Treasury Department blacklisted six individuals Thursday over their alleged support for al-Shabaab, and more, in this week's roundup.
The FDIC dinged a Coral Gables, FL bank for BSA infractions, Vatican Bank defended its AML troubles and more, in this week's news roundup.
Indian officials are calling for currency transaction reporting requirements for travel agents, a New York City councilman is against facing bribery, fraud and money laundering charges, and more, in this week's roundup.
A new Florida law requires state-chartered banks to report any accounts they suspect are linked to Iran, Africa loses $460 billion to money laundering annually, and more, in this week's roundup.
A Boston-based lawyer famed for defending organized crime bosses is accused of money laundering, the European Union blacklisted Guinea-Bissau's leaders in response to the military junta's continued repression of constitutional order, and more, in this weeks' roundup.
HSBC Bank will lay off 77 employees that serve on its AML team in Buffalo, NY, Belarus' central bank will audit Credexbank after the U.S. Treasury Department accused it of money laundering, and more, in this week's roundup.
Kazakhstan's Senate approved a new anti-money laundering and counterterrorist financing bill, two former First Republic Bank employees claim that they were fired for investigating suspicious activity in an account that was later found to be connected to a fraudster, and more, in the weekly roundup.
A Pakistani opposition leader believes that new legislation will open the "doors for money laundering", banking executives in the U.S. and elsewhere believe that most financial institutions are unlikely to meet the January 2013 deadline for the FATCA, and more, in the weekly roundup.
The EU imposed sanctions on six individuals who are responsible for leading a recent coup d'état in Guinea-Bissau, Gaddafi's family members transferred approximately $1.97 million in stolen government funds to its embassy in Brussels last year, and more, in this week's roundup.
France updated its blacklist list of jurisdictions deemed to be uncooperative in tax matters, Associated Bank spent $5 million in the first quarter of this year to comply with an enforcement action related to AML violations, and more, in this week's roundup.
Transparency International is calling on the European Union to strengthen controls on beneficial ownership reporting, Jamaica will boost its AML laws and regulations in order to meet Financial Action Task Force standards, and more, in this week's roundup.
British Prime Minister David Cameron said that the European Union should suspend certain sanctions against Myanmar. The Joint Committee of the European Supervisory Authorities said Wednesday that EU member-states differ significantly in how they implement rules on beneficial ownership, and more.
