Last month the UK Privy Council delivered an important decision on the extent to which a bank is obliged to make inquiries into the underlying commercial purpose of offshore financial arrangements.
Entries in money laundering (96)
Regulators are tightening their grip on anti-money laundering compliance. As a result, banks and other financial institutions have begun to re-examine the ways in which they address risk in their operations. Historically, they have done do by taking drastic measures -- exited business lines or cutting ties with business partners.
Interpol -- the International Criminal Police Organization -- isn't a police force. It's an information clearing house that promotes international police cooperation.
The ex-wife of a former Chinese official was arrested Tuesday in Newcastle, Washington on charges that she and her former husband laundered money to buy property in Washington state and lied to obtain U.S. visas through the immigrant investor program.
The U.S. Treasury Department's Financial Crimes Enforcement Network sets risk-based compliance obligations of U.S. financial institutions. FinCEN directs counter-measures against the countries with the highest risk and enhanced due diligence against others.
Commerzbank AG agreed to pay $1.45 billion for doing business with Iran and other sanctioned countries and its failure to have adequate money laundering controls, the DOJ and New York financial regulator said Thursday.
Transparency International-USA sent a letter to the U.S. Treasury Department Tuesday, endorsed by 17 civil society groups, asking for due diligence requirements for professionals in the real estate sector.
The Financial Crimes Enforcement Network (FinCEN) fined the Trump Taj Mahal Casino Resort $10 million Friday for willful and repeated violations of the Bank Secrecy Act.
Prosecutors in Switzerland searched the offices of HSBC's private bank in Geneva Wednesday as part of an investigation into money laundering.
Fashion Week 2015 begins on February 12 in New York. Compliance will certainly not be on the agenda and the fashion industry has never attracted the kind of regulatory attention “enjoyed” by industries that rely heavily on public sector sales. But that doesn't mean that the industry is free of corruption risks and immune from potential FCPA enforcement actions.