Search Results for: Money laundering
Bank fined $215 Million by DFS for violating Anti Money Laundering Laws
November 7th, 2016
DFS Investigation Uncovers Intentional Actions to Obscure U.S. Dollar Clearing Transactions, Including Counterfeit and Falsified Invoices involving China and Russia and Omission of Information Regarding Possible U.S. Dollar Trades with Sanctioned Counterparties Bank Management Silenced and Severely Curtailed the ...
Leading sports lawyer denies money laundering charges
October 26th, 2016
A renowned sports lawyer today appeared before the Solicitors Disciplinary Tribunal denying a string of allegations. Mel Goldberg, who represents high-profile footballers and world champion boxers, is charged with eight separate allegations in relation to how he ran his ...
About 15 Swiss banks reportedly in money laundering ‘red zone’
October 17th, 2016
Roughly 15 Swiss banks are in a”red zone” of lenders particularly exposed to money laundering risks, the head of Swiss banking watchdog Finma said in a newpaper interview published yesterday. Swiss federal prosecutors last week said they have opened ...
FCA fines Sonali Bank for serious anti-money laundering systems failings
October 12th, 2016
The Financial Conduct Authority (FCA) has fined Sonali Bank (UK) Limited (SBUK) £3,250,600 and has imposed a restriction, preventing it from accepting deposits from new customers for 168 days. It has also fined the bank’s former money laundering reporting ...
Thomson Reuters Launches TRAC to Combat Trade Based Money Laundering
October 12th, 2016
Thomson Reuters announces today the launch of TRAC, its new anti-money laundering solution to combat trade based money laundering (TBML) and drive transparency and efficiency across trade finance. TBML is the use of international trade as a channel for ...
Europol, Interpol unite to combat money laundering with digital currencies
September 13th, 2016
Europol, INTERPOL, and the Basel Institute on Governance have formalised the establishment of a tripartite partnership for a working group on money laundering with digital currencies. The working group will aim to: • gather, analyse, and exchange non-operational information regarding ...
Taiwan to toughen anti-money laundering law after US fine
August 25th, 2016
Taiwan moved Thursday (Aug 25) to toughen its anti-money laundering law after US authorities fined a local bank linked to the so-called Panama Papers scandal. Last week, American regulators fined Taiwan’s Mega International Commercial Bank US$180 million for showing ...
Deloitte is being sued after failing to flag up more than $200 million of money laundering
August 25th, 2016
A Dubai-based investment group is suing the Middle Eastern arm of Deloitte and Touche after the accounting firm failed to flag up money laundering at a now-defunct Lebanese bank. Lebanese Canadian Bank paid over $100 million, or £76 million, ...
Bitcoin Exchange OKCoin Fined in Money Laundering Case
August 16th, 2016
Chinese Bitcoin exchange OKCoin was recently fined for unknowingly aiding money laundering operations on its platform. The Beijing-based company, which records the maximum daily Bitcoin volume, has been ordered by the Heilongjiang Provincial Court to cough up 627,569 Yuan ...
Europol: Searches, seizures and arrests were carried out in eight EU countries against a criminal network involved in international VAT fraud and money laundering
June 30th, 2016
Yesterday, from a coordination centre at Eurojust, Europol supported an international action day against a criminal network involved in international VAT fraud and money laundering defrauding EU citizens of approximately EUR 57 million in tax revenues via companies selling ...
