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Weekly Roundup: Second Swiss Bank to Close Under U.S. Pressure, New York Court Clears Way for Terror Finance Lawsuit, and More
printSwiss private bank Frey & Co. will shut its doors after disclosing Friday that it can no longer bear the legal costs of a U.S. investigation into whether the institution aided tax evaders, Reuters reported. Frey, which had assets of approximately $997 million as of last year, will be the second Swiss institution to close as a result of American tax investigators. More The Paris-based Financial Action Task Force (FATF) removed Morocco and Nigeria from its list of jurisdictions that require ongoing monitoring after the two nations improved their anti-money laundering (AML) regimes. More FATF also asked Algeria, Ecuador, Kenya,...
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