News
Weekly Roundup: Italy Suspends Vatican Payments, Argentina Cracks Down on Laundering by Soccer Clubs, and More
printThe Bank of Italy continued its suspension of the Vatican's credit and debit card transactions and cash withdrawals for a fourth day Friday, citing its noncompliance with the country's anti-money laundering (AML) regulations, Bloomberg reported. The suspension, which is affecting thousands of tourists visiting the Vatican, stems from a 2010 review of the Vatican's point-of-service (POS) payment servicer, Deutsche Bank. Officials concluded at the time that the financial institution was not authorized to provide POS services. The Vatican is in the process of looking for another bank provider, Bloomberg said, quoting a Vatican press release. More Argentina Thursday implemented new...
TO READ THE FULL STORY
Related News
U.K. leaders intend to review whether facilitation should be legal again, CFATF warns countries about the risks of Belize, Guyana and Dominica, and more, in this week's news roundup.
Italian prosecutors seize $10.5 billion from one of Europe's wealthiest families, a judge questions HSBC's agreement with the U.S. Justice Department, and more, in this week's news roundup.
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 Reserve Bank of India confirmed that it is investigating three banks for potential money laundering violations, a forthcoming industry survey points to rising compliance salaries, and more, in this midweek news roundup.
Moroccan lawmakers are looking to criminalize terrorist financing, the Financial Action Task Force on Money Laundering in South America welcomed Cuba as its newest member, and more, in this week's roundup.
Midweek Roundup: Switzerland to Limit Cash Payments, Horse Meat Sales Linked to Laundering, and More
Switzerland's Federal Council says it may limit cash purchases of property, jewelry and other assets, Iran appeals European Union sanctions imposed in March, and more, in this midweek roundup.
Pakistan's National Assembly approved new counterterrorist financing legislation, Italian organized crime groups are utilizing Switzerland's proximity to launder illicit funds, and more, in this week's roundup.
Cyprus rejected a Europol proposal to hire a private firm to gauge its anti-money laundering compliance, the IRS handed out 128 whistleblower awards in fiscal year 2012, and more, in the weekly roundup.
Weekly Roundup: Turkey Approves Terror Finance Bill, EU Court Lifts Sanctions on Iran Bank, and More
A number of key provisions of the Iran Threat Reduction and Syria Human Rights Act of 2012 took effect, the European Union General Court ordered sanctions against Iran's Bank Saderat to be lifted, and more, in the weekly roundup.
Investigators say that Mexican drug cartels have been involved in the sale of counterfeit NFL merchandise in flea markets and parking lots, a judge ordered Bank of Tokyo-Mitsubishi UFJ Ltd. to forfeit more than $260,000 held for Iran-based entities to plaintiffs, and more.
Austria and Liechtenstein agreed to exchange tax-related information, Casino group Las Vegas Sands Corp. has ceased executing international money transfers for wealthy gamblers, and more, in this week's roundup.
The European Commission is giving Switzerland six months to adopt automatic tax information exchange with EU members, the U.S. Senate Banking Committee will soon hold an AML hearing, and more, in the weekly roundup.
French prosecutors plan to launch an investigation into whether France's Budget Minister committed tax fraud, Australia expanded sanctions against Iran, and more, in this week's roundup.
OFAC finalized amendments to the Iranian Transactions and Sanctions Regulations, the daughter of Ukraine's former premier Yulia Tymoshenko called for international sanctions on officials responsible for her mother's imprisonment, and more, in the weekly roundup.
The brother of convicted Ponzi schemer Bernard Madoff was sentenced to 10 years in prison for falsifying investment records and fraud, Twenty-six individuals were arrested for their alleged involvement in a $70 million drug and money laundering ring, and more, in the weekly roundup.
The U.S. Justice Department seized nearly $7 million believed to be the laundered proceeds of an Internet gambling operation, an ex-Wells Fargo investment banker and two others raked in $11 million in an insider trading scheme, and more, in the weekly roundup.
Standard Chartered Bank and HSBC Holdings Plc are expected to pay more than $2 billion to settle U.S. money laundering and sanctions violations, Switzerland and the U.S. near a deal on FATCA compliance, while Isle of Man agrees to share tax data with the U.K., and more
India's Parliament approved amendments to strengthen the nation's anti-money laundering legislation, the European Union extended sanctions against President Bashar Assad's regime for three months, and more, in this week's roundup.
A former Illinois official pleaded guilty to a $53.7 million wire fraud and money laundering scheme, the U.S. Treasury Department blacklisted a senior Taliban leader as a specially designated narcotics trafficker, and more, in the weekly roundup.
The UK Revenue and Customs is investigating British residents who hold Jersey-based accounts with HSBC Holdings Plc., while the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) blacklisted Iran's communications minister and others Thursday.