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Weekly Roundup: Negotiations Inch Ahead on Terrorist Tracking Program, Italy Says 500-Euro Bills Are Launderers’ Favorite, and More
printNegotiations between the United States and the European Union over how to exchange financial data pertinent to terrorism investigations took a step forward Friday after the European Union adopted a mandate allowing the European Commission to negotiate with U.S. officials. The move clears the way for an agreement on how and when interbank data from the Belgium-based Society for Worldwide Interbank Financial Telecommunication (Swift) will be made available to U.S. investigators. In February, the European Parliament struck down an interim agreement that would have codified informal data sharing by Swift with U.S. investigators. The council mandate stipulates that the EU...
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American officials acted within their rights when barring a European investigator from reviewing an audit of how the two continents exchange data linked to terrorist financing, EU attorneys said Thursday.
EU lawmakers will discuss controversies later this month surrounding an agreement to share data on terrorist financing with the United States after parliamentarians Thursday called aspects of the deal "unjust."
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.
Over a year after outlining alternatives to a controversial U.S.-EU bank data-sharing arrangement, European Union leaders have yet to disclose how they would give American terrorism investigators access to sensitive financial information.
JPMorgan Chase drops a Milan account for the Holy See, Beijing police freeze nearly $800 million tied to at least six "underground" banks, and more.
Zambian police questioned the spouse of Zambia's former president about alleged money laundering, Malaysia is installing airport and border scanners meant to curb bulk cash smuggling, and more, in this week's roundup.
Eight U.S. senators penned a letter to European Union leaders calling for an embargo on Iranian oil, the OECD released three reports criticizing Italy, Japan and Switzerland for inadequate anti-bribery controls of foreign public officials, and more, in this week's roundup.
Iran's central bank prepares to sue to win back $2 billion in frozen assets, the U.S. Treasury Department blacklists the heads of a money laundering ring based in Panama and Colombia, and more, in this week's news roundup.
The National Futures Association fined NCMFX, Inc. $12,500 for anti-money laundering deficiencies, Turkey's parliament began deliberations on a bill aimed at curbing terrorist financing, and more, in this week's roundup.
Greece plans on disclosing the names of 15,000 suspected tax evaders, FIFA President vows the association will be freed of corruption by 2013, and more, in this week's roundup.
The Justice Department launches investigations into three Israeli banks and continues its probe into the financial network of R. Allen Stanford, in this week's news roundup.
The Egyptian government may use an old anti-corruption law to prosecute its former leader Hosni Mubarak, Bangladesh is in the process of reforming its AML and tax enforcement laws, and more, in this week's roundup.
The United Nations is considering imposing tougher financial restrictions on Eritrea, a think tank in Ghana says 60 percent of all remittances in the country are sent through illegal channels, and more, in this week's roundup.
France gives the green light to extradite Manual Noriega to Panama, E-Trade Financial Corp. closes Dubai branch, and more, in this week's roundup.
Afghanistan arrests two former top bank officials for alleged graft, Taiwan brings corruption charges against a second former president and FATF advises countries on how to evaluate the risks of alternative financial service providers, in this week's news roundup.
President Obama signed a renewal of the Patriot Act into law late Thursday and the U.S. State Department cracked down on international companies for their ties to Iran, in this week's news roundup.
Dubai fines the UAE arm of E-Trade, and a source familiar with the U.S. Justice Department investigation of HSBC says that prosecutors may target individual bankers, in this week's news roundup.
The White House targets top Syrian officials for human rights violations as the United Nations mulls naming countries that haven't enforced Libyan sanctions, in this week's news roundup.
Antiguan officials are questioning the U.S. decision to shut down an online gambling Web site, and Indonesia investigators say that potential AML violations at Citibank may be tied to an embezzlement case, in this week's news roundup.
The OTS dings an Indiana bank for BSA violations as RBS gets an extension on its deal with the U.S. Justice Department, in this week's news roundup.