News
Weekly Roundup: Nigeria Revokes the Licenses of 20 MSBs for AML Deficiencies, Assad’s Uncle Denies Laundering Allegations, and More
printNigeria's central bank repealed the licenses of 20 Bureau De Change (BDC) companies for money laundering violations, Premium Times said Thursday, quoting Central Bank Governor, Lamido Sanusi. The license removals stem from unjustified purchases of U.S. dollars from commercial banks, Sanusi said, adding that he would seek prosecutions of the BDCs and the banks that aided them. Separately he noted that Nigeria imports more U.S. cash than any other country in the world. More An attorney acting on the behalf Syrian President Bashar al-Assad's uncle denied his client was engaged in corruption, embezzlement of public funds or money laundering as...
TO READ THE FULL STORY
Related News
Myanmar and Sudan have dropped to the worst-offenders category for human trafficking in an annual report by the State Department, the Real Estate Council of British Columbia will soon have its self-regulating powers revoked, and more, in this week's roundup.
The U.S. Treasury Department added over 15 entities to its Iranian sanctions list, Finra fined Hambrecht+Co. $75,000 for inadequate anti-money laundering procedures, and more, in this week's roundup.
China prohibits the trading of bitcoins by financial institutions over money laundering concerns, the U.K. closes 100 suspicious Bank of Cyprus accounts, and more, in this week's news roundup.
Mauritanian officials are creating a Serious Fraud Office, Boston mobster James "Whitey" Bulger was sentenced to life in prison for murder and money laundering, and more, in this week's roundup.
The Tax Justice Network concluded Switzerland remains the top financial secrecy jurisdiction in the world, a U.S. foreign official pleaded guilty to money laundering, and more, in this week's roundup.
Britain plans a public database of company beneficial ownership information, sanctioned Syria is turning to second-tier Russian banks to access international markets, a co-founder of Liberty Reserve pleaded guilty to money laundering, and more, in the weekly news roundup.
The FDIC entered into two consents with banks for BSA deficiencies, the Monetary Authority of Singapore revoked the remittance licenses of two MSBs for AML violations, and more, in this week's roundup.
FATF removed Morocco and Nigeria from its list of jurisdictions that require ongoing monitoring, the OCC entered into a consent order with 1st Century Bank for AML violations, and more, in this week's roundup.
JPMorgan Chase launches AML SWAT team as the bank's legal costs mount, Turkey blacklists over 350 entities in an effort to comply with United Nations sanctions, and more, in this week's news roundup.
A Texas woman pleaded guilty to laundering $37,200 in connection with a healthcare fraud scheme, banks in Guyana are finding it nearly "impossible to do business overseas" due to the country's lack of adequate AML controls, and more, in this week's roundup.
U.S. Sen. Carl Levin (D-MI) reintroduced the Stop Tax Haven Abuse Act, the creator of Beanie Babies agreed to pay over $53 million for tax evasion, and more, in this week's roundup.
Federal officials will weigh whether financial institutions can bank medical marijuana shops, New York's financial regulators asks two financial consultancies for data and more, in this week's news roundup.
U.S. financial regulators will ratchet up monetary penalties against banks that fail to improve their compliance programs, a U.S. district judge sentenced the brother of two alleged Los Zetas members to 20 years in prison for money laundering, and more, in this week's roundup.
The number of people being used as money mules for criminals is on the rise in New Zealand, the former aide of a Chicago official was convicted of money laundering, and more, in this week's roundup.
A Sierra Leone man is accused of violating U.S. sanctions and the International Emergency Economic Powers Act, the UAE ordered financial institutions to freeze the assets of individuals tied to insurgent groups from Somalia and Eritrea, and more, in this week's roundup.
A former brother-in-law of the late U.S. Sen. Ted Kennedy faces money laundering charges, Chicago's former city comptroller was indicted for bribery and money laundering, and more, in this week's roundup.
Pope Francis issued a decree strengthening the Vatican's AML regulations, U.S. officials have said that they could blacklist a gas pipeline project by Iran and Pakistan, and more, in this week's roundup.
A Dutch businessman agreed to pay 34.5 million euros to the Netherlands for operating First Curacao International Bank without a license, a San Antonio, TX man pleaded guilty to running an illegal money transmitter, and more, in this week's roundup.