Weekly Roundup: Putin’s Swiss Bankers Charged, US Treasury Using Powerful Sanctions Measure as Bargaining Chip, and More

Swiss authorities charged four employees of Gazprombank's Swiss subsidiary with helping to hide millions of Swiss francs allegedly belonging to Russian President Vladimir Putin, the Financial Times reported. More U.S. officials are using the threat of designation under section 311 of the Patriot Act to compel foreign banks to upgrade their controls against money laundering, terrorist financing and other financial crimes, ACAMS reported. More An army of shadowy oil brokers who often rely on Western-blacklisted, state-owned Russian lenders for financing have emerged as key nodes in Russia's schemes to continue exporting crude, an investigation by the Economist found. More...