The U.S. House of Representatives Tuesday unanimously passed a bill aimed at foreign banks that provide financial services to Hezbollah, an Iran-backed, Lebanon-based Shiite militant group.
Ukraine's widespread protests and weakened political stability are likely to prompt nervous investors and corrupt officials alike to move their money abroad, say economic analysts.
Two lobbying groups are asking the U.S. Treasury Department to amend proposals that would require banks to close accounts and maintain additional records for three companies accused of aiding terrorists and money launderers.
A transactional data handover mandated under a $102 million settlement disclosed Tuesday between the U.S. Justice Department and a defunct Beirut bank will likely lead to new financial crime investigations.
As U.S. officials work to shield American prepaid cards from abuse by financial crooks, foreign-issued stored value products remain a relatively easy avenue to move money into the United States anonymously.
A decision by the U.S. Second Circuit Court of Appeals affirming sanctions against Jordan's largest bank for not turning over data on suspicious accounts could leave some financial institutions with an unwanted choice, say attorneys.
The U.S. Treasury Department Friday fined a Sioux Falls, SD bank branch $10 million for not properly reporting instances of suspected structuring and terrorist financing.
New U.S. Treasury Department banking restrictions designed to hamstring Iran's nuclear program will curtail personal remittances and the ability to receive payments for licensed exports to the country, say analysts.
Increases in the rates that U.S. states tax cigarette purchasers has led to a rise in tobacco smuggling by organized crime groups and terrorist financiers, say governmental officials.
A recent spate of compliance fines and U.S. investigations has imposed renewed pressure on British banks to improve their anti-money laundering and sanctions programs, say industry sources.
U.S. officials have launched a criminal investigation after linking data seized at Osama bin Laden's compound in Abbottabad, Pakistan to a Bank Secrecy Act report, counterterrorism investigators said Monday.
In the wake of a high-profile congressional hearing, more than a dozen large financial institutions have amended how they share information with affiliate institutions in bank secrecy havens, say compliance professionals.
The U.S. Justice Department seized $150 million held for a Lebanese financial institution at accounts at five U.S. banks, as part of a crackdown on a purported terrorist financing network.
A federal court ruling reversing convictions against a former financial adviser for running an unlicensed money remitter that accepted money from Iran highlights little known exceptions to prohibitions on accepting Iranian money.
The U.S. Treasury Department's ability to freeze the funds of suspected terror financiers without a warrant is likely curtailed to emergency circumstances under a court order handed down last week.
Lawmakers are asking the U.S. Justice Department to clarify how it will prosecute individuals and groups that aid terrorist organizations, and whether those cases could involve innocent charity groups.
U.S. efforts to clamp down on terror financiers have been largely a success, a federal official told American lawmakers at a hearing in downtown Manhattan Tuesday.
A top BCCI investigator spoke with reporter Larissa Bernardes about some of the complex money laundering schemes he encountered during his undercover work.
Latin American and Canadian drug cartels profit and launder between $51 billion and $95 billion from U.S. sales annually, often smuggling their proceeds across the border, according to a government report.
U.S. Justice Department prosecutions involving narcotics are expected to remain flat for fiscal year 2008, as immigration violations will again be the most commonly charged federal offense, according to a report by a Syracuse University organization that tracks trends in law enforcement.