The U.N. Security Council approved its toughest-ever sanctions against North Korea in response to the nation's most recent nuclear test and ballistic missile launches, Reuters reported. The resolution requires inspections of all cargo to and from North Korea, and the closure of any joint banking ventures and correspondent accounts that benefit the nation. More Islamic State is generating up to $14 million each month by investing stolen cash in Middle Eastern currency markets, according to the Express. More The European Central Bank revoked the license of Latvia-based Trasta Komercbanka AS for its involvement in a series of financial crimes over...
The Vatican received 544 suspicious activity reports in 2015, Australia's financial intelligence unit proposed extending AML regulations to virtual currency companies, and more, in this week's roundup.
Switzerland has agreed to the U.S. Justice Department's request to hand over records from UBS AG and at least 15 other banks linked to Petroleos de Venezuela SA, FinCEN and its Argentine counterpart entered into an MOU, and more, in this week's roundup.
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.
German prosecutors are investigating 2,000 possible instances of tax evasion by clients of UBS AG, MONEYVAL published a report advising Guernsey to increase prosecutions of money laundering, and more, in this week's roundup.
The U.S. Treasury Department blacklisted Lebanese telecommunications firm Spectrum Investment Group Holding SAL and its chairman, Brazil's central bank ordered brokerage firm TOV Corretora to shut down for violating CDD rules, and more, in this week's roundup.