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Weekly Roundup: Most Private Iraqi Banks Suspected of Money Laundering, Swiss to Deem Sports Executives as PEPs, and More
printAn Iraqi official told Al-Monitor that 29 of Iraq's 33 private banks are under investigation for suspected money laundering and corruption. Money laundering through the country's central bank is believed to have resulted in the loss of more than $100 billion over the last decade, with most of the money flowing through banks in Dubai and Beirut. More New York's state and city agencies are vying for shares of the more than $5 billion in monetary penalties the government has reaped from BNP Paribas SA and Credit Suisse Group AG this year, according to Bloomberg. The "staggering" windfall in funding...
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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.
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.
U.S. officials are considering imposing asset freezes and travel bans on Libyan factions and individuals, authorities in France and China are joining efforts to track down assets parked by corrupt Chinese officials in France, and more, in this week's roundup.
An Oregon ballot proposal to legalize growth, possession and use of marijuana has a lot of backing, Moldova's judiciary is under scrutiny for the role some 20 judges allegedly played in a money laundering scheme, and more, in this week's roundup.
Federal prosecutors have accused Scranton-based Pennsylvania Coin, LLC of running illegal gambling operations in five counties, Moscow-based VTB and Sberbank have asked the EU Court of Justice to overturn sanctions levied against them, and more, in this week's roundup.
PayPal has strengthened controls over e-payments in Russia, the expected U.S. settlement with Commerzbank AG for alleged sanctions violations has been delayed, and more, in this week's roundup.
A U.S. appeals court reversed a lower court's decision to reject a whistleblower's lawsuit against JPMorgan Chase, Europol has warned that Russian gangs are planning to launch a $1 billion cyber heist on global financial institutions, and more, in this week's roundup.
M&T Bank Corp. revealed it has spent more than $150 million boosting its AML program, the Asia Pacific Group on Money Laundering will allow North Korea to join the organization as an observer, and more, in this week's roundup.
Argentina extended a tax amnesty program for residents who haven't declared foreign currency, Ecuadorean authorities are investigating fraud and money laundering associated with the use of Venezuela's sucre, and more, in this week's roundup.