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Weekly Roundup: U.N. Backs Away from Syria Sanctions, Venezuela Approves Counterterrorist Financing Measure, and More
printU.N. officials have backed away from efforts to sanction Syria in hopes of persuading Russia and others to support a call for political change in the country, The New York Times reported Thursday. Diplomats have also jettisoned a call for an arms embargo, the newspaper reported. A draft resolution under consideration backs an Arab League plan to change Syria's top leadership. More Pakistan's Supreme Court Thursday opened the door for bringing contempt of court charges against the nation's prime minister, whom critics say has shielded President Asif Ali Zardari from a money laundering case, among other allegations. The controversy stems...
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A group of investigative journalists reveal the identities of thousands of suspected tax evaders, U.S. prosecutors increasingly turn to a civil fraud statute to prosecute money launderers, and more, in this week's news roundup.
A report by the GAO concluded that some information requested by the IRS' Form 8938 and the FBAR is duplicative, Vietnam and Cambodia signed an MOU to strengthen information sharing in money laundering investigations, and more, in this week's roundup.
The Philippines Senate delayed the approval of amendments to its principal AML law despite pressure from FATF to upgrade its regime, convicted Ponzi schemer Allen Stanford lost his bid for a new trial after being convicted earlier this month, and more, in this week's roundup.
JPMorgan Chase drops a Milan account for the Holy See, Beijing police freeze nearly $800 million tied to at least six "underground" banks, and more.
India faces a possible U.S. sanction over its reluctance to reduce Iranian oil purchases, MONEYVAL believes knowledge about the money laundering risks of new payment methods and the Internet is "relatively low", and more, in this week's roundup.
The OCC dings three banks for AML problems, Argentina publishes new rules related to corruption in soccer clubs, and more in this week's news roundup.
Efforts by the United Nations to censure Syria fell through, financial institutions in India are using anti-money laundering compliance as a benchmark to measure senior management performance, and more, in the midweek roundup.
U.S. officials may be looking at 200 bank accounts allegedly tied to North Korean leaders in Asia, Europe and Russia, the U.S. and India sign an MOU to share AML data and the head of Kosovo's central bank is arrested, in this week's news roundup.
FATF removes five countries from its list of problematic jurisdictions, Kenya prepares to enforce a new AML law and a UBS AG whistleblower asks the White House for a pardon, in this week's news roundup.
U.S. and European relations figured prominently in the news this week. On Thursday, Swiss legislators approved an agreement allowing U.S. access to data on nearly 4000 UBS AG account holders and Tuesday, the European Commission adopted a draft agreement to exchange terror information with the U.S.
Former Alavi president sentenced to three months in prison, Nigerian leaders rush to pass new AML legislation and Hong Kong eyes ways to strengthen AML controls, in this week's roundup.
The European Union and the United States move ahead with negotiations over Swift interbank data and a New York court sentences an alleged terrorist financier to ten years in prison, in this week's news roundup.
U.S. efforts to stifle al-Qaida's finances are paying off and Swiss financial institutions filed a record number of SARs in 2009, in this week's news roundup.
With the $536 million penalty for sanctions violations still fresh in the minds of compliance officers, Credit Suisse faces new problems. On Sunday, Reuters reported that Germany is currently investigating 1,100 Credit Suisse clients for suspected tax evasion violations.
As the United States and Europe continue to press China to support new sanctions against Iran, North Korea has launched a bank to circumvent international trade and financial prohibitions against it.
A Milwaukee-based company sues American Express for failing to block illegal transactions and Royal Bank of Scotland discloses that the U.K. Financial Services Authority is investigating it, in this week's news roundup.
Iran seeks help with its terrorist financing laws on the heels of its inclusion in an international blacklist and investigators in the UAE say they are looking at U.S. credit card companies as part of investigation into the assassination of a Hamas leader, in this week's roundup.