Weekly Roundup: PayPal Under US Investigation for Suspected AML Breaches, North Korean Banks Using Shell Companies to Circumvent Sanctions, and More

The U.S. Justice Department served subpoenas on PayPal Holdings Inc. as part of an investigation into alleged violations of anti-money laundering rules, the payment processor said in a regulatory report cited by The Wall Street Journal. More A U.N. report claims that North Korean banks are using foreign front companies and facilitators to evade international sanctions and conduct transactions through top global financial centers, Kyodo News reported. More Citigroup Inc., Wells Fargo & Co. JPMorgan Chase & Co. and UBS AG are requiring offshore accountholders from Argentina, Brazil and Chile to prove they declared their assets to local tax authorities,...