News
Weekly Roundup: Swiss Institutions Still Weighing U.S. Tax Deal, China Bans Bank Bitcoin Trades, and More
printHundreds of Swiss bank boards are weighing whether to concede to U.S. demands that their institutions share data on American clients, Reuters reported. The financial institutions have delayed saying if they'll participate in a U.S. tax data-sharing agreement despite urgings by Swiss financial regulators to cooperate. More Myanmar will allow foreign banks to expand their financial services next year, according to a senior central bank official cited by Reuters. The Southeast Asian government has prohibited the 34 international banks with representative offices in the country from opening branches, despite the easing of some economic sanctions. More Under new disclosure requirements,...
TO READ THE FULL STORY
Related News
Italian bank Intesa Sanpaolo is under investigation for potentially breaching EU sanctions, Deutsche Bank AG pulled its U.S. dollar-clearing services out of Angola amid concerns of corruption concerns, and more, in this week's roundup.
Insurance firm Lloyd's of London intends to move part of its U.K. operations to Europe early next year, EU officials plan to introduce legislation next year that would place new rules on tax advisors, and more, in this week's roundup.
The deputy chief of the U.S. Justice Department's asset forfeiture and money laundering section will leave the position next month, Thailand is amending its anti-money laundering laws, and more, in this week's roundup.
An influential Senate subcommittee will hear testimony on tax evasion through offshore banks, Switzerland agrees to follow automatic data exchange standards and more, in this week's news roundup.
Guyana failed to approve AML legislation ahead of this week's FATF plenary, Fiji is expanding the powers of its law enforcement by allowing phone tapping in order to boost its fight against money laundering, and more, in this week's roundup.
Mexico City prosecutors accused the former head of the nation's anti-money laundering office of extortion, French lawmakers are demanding that France put Bermuda back on the nation's list of tax havens, and more, in this week's roundup.
The U.S. Justice Department seizes digital funds tied to an Internet black market, Republicans line up behind effort to fight FATCA and more, in this week's news roundup.
The director of Colombia's FIU said that the Colombian government lost $18 billion in 2012 to money laundering, the New York State Department of Financial Services said its public hearing on digital currencies will take place on Jan. 28 and 29, and more, in this week's roundup.
As a long-negotiated U.S.-Swiss tax settlement inches forward, some banks in Switzerland are asking themselves an unlikely question: can we disclose more?
Argentina extended a tax amnesty program for residents who haven't declared foreign currency, Ecuadorean authorities are investigating fraud and money laundering associated with the use of Venezuela's sucre, and more, in this week's roundup.
The FDIC entered into a consent order with a West Virginia bank for AML deficiencies, France plans to remove Jersey and Bermuda from its list of uncooperative tax havens, and more, in this week's roundup.
The U.S. Treasury Department disclosed six FATCA agreements, Finra fined an Austin, TX firm $200,000 for AML violations, 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.
CFATF blacklisted Belize and Guyana for failing to improve their AML regimes, the Dubai Financial Services Authority is suing Deutsche Bank AG for allegedly breaking AML rules, and more, in this week's 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.