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Weekly Roundup: Senate Readies Iran Sanctions Bill, Supreme Court Approves Noriega Extradition, Pakistan Passes AML Law, and More
printThe Supreme Courts of the United States and Britain both made news in financial compliance circles this week, though for very different reasons. The U.K.'s high court controversially struck down the British Treasury's power to freeze the funds of suspected terrorists while U.S. Justices approved the extradition of former Panamanian dictator Manuel Noriega. More On Monday, the U.S. court said it was upholding a decision by the Southern District Court of Florida to extradite Noriega, the former head of Panama's Defense Forces, to France to face money laundering charges. U.S. armed forces seized Noriega in Jan. 1990 during a U.S....
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The National Futures Association handed out three separate fines to entities and individuals over AML violations, four Vatican priests have been charged with laundering hundreds of thousands of dollars, and more, in this week's roundup.
The former leader of the Arellano Felix Organization drug cartel pleaded guilty to racketeering and money laundering conspiracy, former New Jersey rabbi Eliahu Ben Haim was sentenced to five years in prison for his role in a money laundering scheme, and more, in this week's roundup.
Two banks linked to a billion-dollar Ponzi scheme will likely face increased scrutiny from law enforcement and federal regulators following depositions last month by the convicted former head of a Florida law firm.
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.
A U.S. Appeals Court affirmed the convictions of five former Islamic charity leaders previously found guilty of sending millions to Hamas, OFAC launched a new Web page to help users quickly scan through the Specially Designated Nationals and Blocked Persons list, and more, in this week's roundup.
A U.S. official's threat last month of economic sanctions against four Chinese banks is likely to be toothless given economic and enforcement hurdles, say sanctions analysts.
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.
Former Holy Land Foundation leaders appear in court to appeal convictions, the United Kingdom announces charges against an individual for alleged Bribery Act violations, 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.
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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.
The Tunis Criminal Court convicts former President Zine al-Abidine Ben Ali for embezzlement, the Federal Deposit Insurance Corporation issues two consent orders for AML violations, and more, in this week's roundup.
Argentina's Senate approves new anti-money laundering legislation, New Jersey rabbi receives probation for money laundering conviction, and more, in this week's 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.