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Weekly Roundup: Lawmakers Reintroduce Magnitsky Bill, Cartels Exploit Colombia’s Textile Sector, and More
printSens. Mark Kirk (R-IL), John McCain (R-AZ) and Ben Cardin (D-MD) reintroduced legislation Thursday that would expand the asset freezes and visa restrictions mandated against corrupt officials in Russia by a 2012 law to apply to corrupt officials worldwide. The Global Magnitsky Human Rights Accountability Act would require the White House to annually report actions undertaken to comply with the bill. More Sen. Robert Menendez (D-NJ) Thursday urged U.S. Secretary of State John Kerry to impose the additional sanctions on Russia's defense and energy sectors laid out in the Ukraine Freedom Support Act. More Rep. Earl Blumenauer (D-OR) Thursday sent...
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The U.S. Justice Department is probing the Israeli arm of Credit Suisse for allegedly helping clients evade the taxes, Swiss private bank BSI is appealing a $99 million fine imposed by Finma, and more, in this week's roundup.
A settlement by the U.S. Justice Department requires Swiss private bank BBVA Suiza S.A. to pay a $10.4 million penalty, France and the United Nations are considering imposing sanctions against individuals from the Central African Republic, and more, in this week's roundup.
The U.S. Justice Department announced a non-prosecution agreement with Swiss bank Ersparniskasse Schaffhausen AG, Spanish authorities are calling for Gibraltar to be added to an EU list of uncooperative tax havens, and more, in this week's roundup.
HSBC has agreed to pay Swiss authorities $43 million to settle an AML investigation, Myanmar's economic growth and soaring property values are largely being fueled by heroin trafficking, and more, in this week's roundup.
The U.K., Brazil and Costa Rica have opened their own corruption and money laundering probes of FIFA officials, Cuba's designation as a State Sponsor of Terrorism was formally rescinded by the U.S., and more, in this week's roundup.
Finter Bank Zurich AG reached a non-prosecution agreement that requires the lender to pay $5.4 million for tax-related offenses, authorities in Switzerland plan to revise the country's data-sharing laws, and more, in this week's roundup.
FinCEN is seeking to better define and understand the money-laundering risks associated with real estate closings, a senior Israeli tax official told a gathering of attorneys in Tel Aviv that the country is close to concluding its investigation of UBS, and more, in this week's roundup.
The UN could impose targeted sanctions against Mali in response to recent violence, Israeli authorities arrested three individuals for allegedly transferring money on behalf of Hamas, and more, in this week's roundup.
The possible nuclear accord between Iran and six nations could galvanize the country's languishing automobile sector, hundreds of Russian banks are closing as a result of a sanctions-induced economic crisis, and more, in this week's roundup.
A federal court approved the terms of a U.S. settlement with Commerzbank AG for sanctions violations, Bangladesh approved a national AML and counterterrorist financing strategy, and more, in this week's roundup.
Russian lawmakers are considering legislation that would give amnesty to anyone bringing capital back to Russia, Canadian lawmakers pledged to approve a so-called Magnitsky Act that would blacklist Russian officials complicit in human rights violations, and more, in this week's roundup.
France's financial state prosecutor is seeking a criminal trial of HSBC's Switzerland-based private banking arm, China's yuan now accounts for roughly 80 percent of global Bitcoin transactions, and more, in this week's roundup.
An expected U.S. settlement with Commerzbank AG could come as soon as next week, roughly $572 million of Moscow-based Bank Rossiya's assets have been blocked in the U.S. since sanctions took effect, and more, in this week's roundup.
The FDIC published a consent order against Tri-State Bank of Memphis, Germany is investigating the Swiss-based private banking division of Coutts for potential violations of tax evasion laws, and more, in this week's roundup.
The EU extended sanctions against Zimbabwe, the OCC disclosed two enforcement actions for AML deficiencies, and more, in this week's roundup.
Tunisia will investigate 256 of its citizens who have secret HSBC accounts in Switzerland, Canada's Supreme Court ruled that lawyers should be exempt from filing STRs on their clients, and more, in this week's roundup.
EU officials are expected to blacklist nine entities and nine individuals for their alleged roles in ongoing insurgency in Ukraine, Al-Shabaab and other terrorist organizations may be using companies in South Africa to transfer funds, and more, in this week's roundup.
Iran has generated $4.6 billion in revenues in the first six months of this year as a result of temporary sanctions relief, the former chairman of the Cayman Islands' Health Services Authority is accused of money laundering, and more, in this week's roundup.
The White House is open to imposing sanctions on Venezuela after the failure of diplomatic efforts to secure electoral reform, federal law enforcement officials are investigating Wynn Resorts Ltd. for potential money laundering violations, and more, in this week's roundup.
Western nations may expand sanctions against Russia in response to the country's movement of combat troops into eastern Ukraine, eleven people in Portugal were detained on suspicion of corruption and money laundering, and more, in this week's roundup.