Transparency International released a report Monday calling for a radical overhaul of the UK’s anti-money laundering system.
Entries in money laundering (112)
The United States and United Kingdom recently published comprehensive money laundering risk assessments through the UK’s National Risk Assessment and the U.S.’s National Money Laundering Risk Assessment.
Last month the UK’s Treasury and Home Office published the first national risk assessment of money laundering and terrorist financing in the UK.
A major risk for inbound investors in Russia is inadvertent exposure (often under the aegis of third parties) to a type of shell entity called a Fly-by-Night company.
The Federal Financing Monitoring Service of the Russian Federation drafted a bill that would ratify the Council of Europe Warsaw Convention of 2005 on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism, which Russia signed in 2009.
Last week the DOJ charged four bankers from Honduras in a multi-year scheme to launder drug money and bribe foreign officials through accounts located in the United States.
The FIFA scandal involves the illicit paying and receiving of monies in relation to marketing rights, elections, and host country bids. And though both the U.S. and Switzerland have now begun formal criminal proceedings, with 15 total defendants and myriad criminal counts, there are absolutely no bribery charges.
The Treasury Department's Financial Crimes Enforcement Network said Tuesday that the owner of Caesars Palace casino in Las Vegas will pay an $8 million civil penalty for "willful and repeated violations" of the anti money-laundering provisions of the Bank Secrecy Act.
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) Thursday imposed “special measure five” against Tanzania-based FBME Bank Ltd, formerly known as the Federal Bank of the Middle East.