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Weekly Roundup: Tunisia Asks to Join Swiss HSBC Prosecution, Nations Gather to Fight Islamic State Funding, and More
printThe Tunisian government is formally seeking to participate in Switzerland's money laundering prosecution of HSBC Holdings Plc's Swiss branch in an attempt to claw buck as much as $161 million allegedly embezzled and funnelled into accounts by former President Zine El Abidine Ben Ali and his relatives, Bloomberg reported Thursday. More U.S. Under Secretary for Terrorism and Financial Intelligence Adam Szubin told lawmakers Thursday that the White House will only remove sanctions against Iran in stages as part of any nuclear agreement, and will impose additional sanctions if an accord isn't reached, according to Reuters. More The United States and...
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Canada's Innovation Minister Navdeep Bains said the country is considering lifting sanctions against Iran, UBS AG has agreed to fully cooperate with French officials investigating possible tax evasion involving as much as $13 billion, and more, in this week's roundup.
Chinese authorities are investigating managers of Swiss elevator firm Schindler on suspicion of embezzlement and bribery, former Detroit treasurer Jeffrey Beasley was sentenced to 11 years in prison for running a bribery and kickback scheme, and more, in this week's roundup.
Switzerland will soon adopt a law to expedite the return of stolen assets held in Swiss bank accounts, India and Germany have agreed to enhance the exchange of tax-related information, and more, in this week's roundup.
Weekly Roundup: FIFA Official Extradited, UniCredit to Settle Tax Investigation in Germany, and More
UniCredit is set to pay millions of euros to German authorities to settle two different tax probes, as much as 25 percent of the funds used in Guatemalan politics originates from drug trafficking and other criminal groups, and more, in this week's roundup.
The Justice Department and Privatbank Von Graffenried AG signed a non-prosecution agreement that will see the Swiss financial institution pay $287,000, the Bank of Israel fined Bank Leumi Ltd. over $1 million for failing to report unusual transactions, and more, in this week's roundup.
The U.S. Treasury Department lifted sanctions on Privredna Banka Sarajevo AD, a U.K. report called for the extension of the jurisdiction's Senior Managers Regime to the securities industry, and more, in this week's roundup.
Royal Bank of Canada said that a French judge has dropped money-laundering charges against its Bahamas branch, Panama's legislature approved a bill that will impose AML requirements on over a dozen nonfinancial sectors, and more, in this week's roundup.
Russian lawmakers are considering legislation that would give amnesty to anyone bringing capital back to Russia, Canadian lawmakers pledged to approve a so-called Magnitsky Act that would blacklist Russian officials complicit in human rights violations, 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.
Credit Agricole SA is nearing a final deal with U.S. officials over its alleged sanctions violations, Ukrainian separatists in the country's Donetsk region are in the process of creating their own currency, and more, in this week's roundup.
Arab Bank argues that the Hamas members it processed transactions for weren't blacklisted, banks offer mixed messaging on marijuana accounts, and more, in this week's news roundup.
Authorities are concerned that money launderers are using Myanmar's real estate sector, a study found that Swiss banks have lost $383 billion in the last six years partly due to fines, and more, in this week's roundup.
M&T Bank Corp. revealed it has spent more than $150 million boosting its AML program, the Asia Pacific Group on Money Laundering will allow North Korea to join the organization as an observer, and more, in this week's roundup.
A bill that would shift the oversight of MSBs to state regulators has passed the House of Representatives, Russia saw nearly $75 billion in capital flight in the first half of 2014, and more, in this week's roundup.
Russian officials said economic sanctions are threatening the economic well-being of their nation, marijuana distributers sued the IRS for charging them a fee for paying taxes in cash, and more in this week's roundup.