Luxembourg's financial regulator fined the local subsidiary of Swiss-based Edmond de Rothschild nearly €9 million for alleged compliance failures linked to the private bank's handling of funds from the 1Malaysia Development Bhd. embezzlement scandal, Luxemburger Wort reported. More U.S. authorities charged 11 individuals with allegedly paying money remittance firms to launder more than $40 million in narcotics-sales proceeds through Mexico over a 4-year period. More Seven fake online stores based in Europe provided a front for internet-gaming payments to be made on credit cards, according to Reuters. More Russia's Anti-Monopoly Service ruled that local officials in Moscow received illegal bank...
U.S. lawmakers discussed a money-laundering trial with a former Soviet spy last month, a former UBS banker was found guilty of money laundering and corruption in New York, and more, in this week's roundup
Iran's nuclear chief said that the country is on schedule to meet its commitments under the JCPOA, U.S. Bancorp disclosed that it has entered into a consent order with the OCC, and more, in this week's roundup.
New York Gov. Andrew Cuomo reportedly seeks to rein in the state's banking regulator, Deutsche Bank sets aside over $1.3 billion for compliance-related penalties and litigation, and more, in this week's news 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.