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Weekly Roundup: MoneyGram Sets Aside $30 Million for Possible Settlement, Finra Fines Compliance Officer for Ignoring FinCEN Requests, and More
printMoneyGram International disclosed in a regulatory filing Thursday that it has set aside $30 million for a potential settlement associated with an investigation by the District Court of Middle Pennsylvania. More Though the money services business provided no further details, the investigation could be tied to anti-money laundering (AML) violations, including poor oversight of agents working near the U.S.-Mexico border, sources told ACAMS MoneyLaundering.com last September. More Prosecutors in the Western District of Texas will submit 30,000 pages of evidence related to 2,000 recorded phone conversations as part of a money laundering trial connected to Mexican drug cartel Los Zetas,...
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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 terms of a $100 million settlement disclosed Friday by MoneyGram for anti-money laundering lapses will cost the Dallas-based money remitter nearly $200 million once completed, regulatory documents show.
The Bank of Israel fined Mizrahi-Tefahot Bank 3.8 million shekels for violating AML laws, French investigators searched the Paris offices of UBS AG as part of a tax evasion probe, and more, in this week's roundup.
The U.S. Treasury Department blacklisted three top members of Hezbollah, the State Bank of Pakistan introduced new regulations aimed at strengthening the nations anti-money laundering framework, and more, in this week's roundup.
The Obama White House will reportedly blacklist the Haqqani network, the organization responsible for attacks against American troops in Afghanistan; the U.S. State Department removed the Communist Party of Nepal from its sanctions lists; and, more.
The U.K.'s Serious Fraud Office is investigating payments between Barclays PLC and Qatar Holding LLC, the U.S. Treasury Department's top sanctions official will be in Switzerland and Turkey next week to discuss sanctions against Iran and Syria, and more, in the weekly roundup.
A Trinidadian official is calling for a money laundering investigation of former FIFA Vice President Jack Warner, Thailand is looking to boost its AML regime, and more, in the weekly roundup.
Switzerland expanded sanctions against Syria to include travel bans and asset freezes on 25 more Syrians, Brazil accused 38 people of laundering money and evading taxes as part of a scheme to gain political backing for former President Luiz Inacio Lula da Silva, and more, in this week's 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.
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.
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 Pakistani company director was sentenced to over two years in prison for money laundering, suspicious transaction reporting in Italy rose 147 percent between 2010 and 2011 due to a dramatic increase in mob activity, and more, in the weekly 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.