News
Weekly Roundup: U.S. Weighing Prosecution of HSBC Bankers, Argentina Forwards AML Bill Ahead of FATF Evaluation, and More
printThe U.S. Justice Department's investigation of HSBC Holdings Plc could result in the prosecution of bankers, Reuters reported Thursday, citing a source close to the investigation. The investigation has moved slowly because the investigators have been "meticulously doing interviews" with the objective of prosecuting individuals, the unnamed individual told the media outlet. More Individuals familiar with the investigation told Moneylaundering.com/ComplianceAdvantage in August that the fine against the bank could exceed $500 million, making it the largest ever fine for anti-money laundering (AML) violations. More Beset with criticism over its AML regime, Argentina's lower congressional house approved a bill weeks before...
TO READ THE FULL STORY
Related News
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.
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.
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.
Israel's Attorney General announces plans to indict the country's foreign minister on money laundering charges, Danish scientist indicted for wire fraud and money laundering, and more, in this week's roundup.
OFAC delists an ex-member of Moammar Gadhafi's regime, Argentina's President presses lawmakers to pass AML legislation, and more, in this week's 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.
The Federal Deposit Insurance Corporation issues a consent order on a California bank for BSA deficiencies, the Ukraine approves a new national anti-money laundering strategy, and more, in this week's roundup.
The Internet Gambling Regulation, Consumer Protection and Enforcement Act is introduced by Representative John Campbell, Antigua & Barbuda defends its AML regime after publication of State Department report, and more, in this week's roundup.
The Office of Thrift Supervision issues a cease-and-desist order against a California bank for BSA violations, a London lawyer gets sentenced for seven years in prison for money laundering and other crimes, in this week's roundup.
The Financial Crimes Enforcement Network issues its third enforcement action for the year, Nigeria's Senate approves new anti-money laundering legislation, and more, in this week's roundup.
The White House announces plans to sanction Libya, the Federal Deposit Insurance Corp. issues two enforcement actions due to Bank Secrecy Act violations, and more, in this week's roundup.
The OCC and OTS issue AML-related enforcement actions, Nigeria passes counterterrorism bill into law, and more, in this week's roundup.
Switzerland freezes former Egyptian President's funds, IRS grants tax evaders another opportunity to come clean, and more, in this week's roundup.
Afghanistan's finance minister welcomes probe into whether he took payoffs from Kabul Bank, Argentina issues 22 new AML rules in response to international scrutiny, and more, in this week's roundup.