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Weekly Roundup: U.S. Falls in Annual Corruption Index, Watchdog Calls on IRS to Strengthen Anti-Tax Evasion Efforts, and More
printThe United States is no longer thought to be one of the 20 least corrupt countries in the world, the Berlin, Germany-based Transparency International said this week. The group, which published its index of global corruption perception Tuesday, ranked the United States as the 22nd least corrupt country out of 178. Denmark, New Zealand and Singapore tied for the country thought least corrupt, while Somalia appeared at the bottom of the list for the third year in a row. More The U.S. Government Accountability Office pointed to some of the potential corruption among American taxpayers Tuesday. The watchdog organization said...
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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.
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.
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.
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.
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.
Congressional leaders struck a deal Thursday to reauthorize several controversial powers of the Patriot Act though June 1, 2015, including a provision that allows investigators to seize "tangible" records from financial institutions, the New York Times reported.
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.
The OTS dings an Indiana bank for BSA violations as RBS gets an extension on its deal with the U.S. Justice Department, in this week's news roundup.
Transparency International's anti-corruption efforts in Pakistan have drawn public denunciations and death threats, in part because the organization controls $7.5 billion in aid, according to a group official.
On Monday, Wikileaks founder Julian Assange said that his organization will publish tens of thousands of documents leaked from a major U.S. bank implicating the institution in "flagrant violations" of U.S. law. The leak of the cables, which began last Sunday, also sparked debate about Argentina.
Several large U.S. banks have closed embassy accounts potentially linked to corruption, a Russian official accuses a U.S. charity of terrorist ties and more, in this week's news roundup.
Weekly Roundup: Italy Investigates Vatican Priests, Afghanistan to Audit All Private Banks, and More
While U.S. regulators are pushing national banks to hire regional Bank Secrecy Act (BSA) officers, some smaller banks have yet to hire a single full-time compliance officer, the U.S. Treasury Department said this week.
The U.S. Justice Department convicts the former head of a New York bank for TARP fraud, FinCEN delays its deadline on mutual fund BSA programs and more in this week's news roundup.
The OTS issued a cease-and-desist order against a New Jersey-based bank due to AML deficiencies, the American Gaming Association announced that it no longer supports the UIGEA, in this week's roundup.
The OTS issues a cease-and-desist order against a New Jersey bank, the U.K. charges 11 individuals with defrauding European banks and more, in this week's news roundup.
Italian authorities freeze $31 million at the Vatican Bank, MENAFATF criticizes Lebanon's AML regime and laundered art is returned to Brazil, in this week's news roundup.
An Arizona bank that received TARP funds enters into a settlement agreement with the DOJ for AML violations, the OCC signs consent orders with two different banks for BSA deficiencies and more, in this week's roundup.