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Sudan investigating Bashir after large sums of cash found at home: source

Sudan’s public prosecutor has begun investigating ousted President Omar al-Bashir on charges of money laundering and possession of large sums of foreign currency without legal grounds, a judicial source said on Saturday. The source said that military intelligence had searched Bashir’s home and found suitcases loaded with more than $351,000… Read More

New York Fed cracks down on Puerto Rico banks following Venezuela sanctions

U.S. sanctions on Venezuela have led the New York Federal Reserve to crack down on Puerto Rico’s $50 billion offshore banking industry, according to four sources and a document seen by Reuters. The development will prevent the island’s offshore banks, several of which are owned by citizens of crisis-stricken Venezuela,… Read More

Enhancing Financial Inclusion: Telecoms and AML in Nigeria

The rapid development of mobile money is creating unprecedented opportunities for poor people in developing countries to more actively participate in the economy. For millions of underserved individuals around the world, a mobile phone represents more than just a tool for communication; it’s a payment terminal in the pocket. Every… Read More
18th April 2019
The U.S. Treasury Department’s financial intelligence unit fined a California man for running an unlicensed Bitcoin money services firm, marking the bureau’s first-ever monetary penalty against a peer-to-peer virtual currency exchange. The $35,000 fine against Eric Powers of Kern County, Calif. comes six years after the Financial Crimes Enforcement… Read More
18th April 2019
AP — Romania’s justice minister says he is resigning after losing the support of the governing Social Democratic Party. Tudorel Toader says in a statement Thursday he decided to present his resignation to Prime Minister Viorica Dancila despite declaring hours earlier that he would stay in his post. Toader’s downfall… Read More
18th April 2019
AP — Protesters in Sudan called Thursday for new street demonstrations to pressure the ruling military council to speed up the transition of power to a civilian government as the new rulers announced the arrests of former president Omar al-Bashir’s two brothers on corruption charges. Military council spokesman Gen. Shams… Read More
18th April 2019
The weeks before Easter are usually some of the busiest of the year for bankers, lawyers and consultants in the City of London, as clients rush to get deals done before a run of public holidays. But this year comparatively little has been happening. City workers had been hoping the… Read More
18th April 2019
The U.S. Attorney’s Office said it has agreed not to prosecute one of the country’s biggest gold refineries, Republic Metals Corporation (RMC), after an investigation into possible money laundering. The probe is part of a broader crackdown by U.S. authorities on imports of gold from South American countries such as… Read More
18th April 2019
Whether it’s linked to a case of whistleblowing, a problematic work culture or discrimination, the decision to sue an employer is never easy. For some compliance officers, however, there may come a point in which legal action is the only recourse available to them to expose wrongdoing, protect their professional… Read More
18th April 2019
The rapid development of mobile money is creating unprecedented opportunities for poor people in developing countries to more actively participate in the economy. For millions of underserved individuals around the world, a mobile phone represents more than just a tool for communication; it has become a payment terminal in the… Read More
18th April 2019
By William M. LeoGrande, American University School of Public Affairs The Trump administration has declared the most severe new sanctions against Cuba since President John F. Kennedy imposed an economic embargo banning all trade with the communist island in 1962. Speaking in Miami on April 17,… Read More
18th April 2019
The Trump administration on Wednesday announced sanctions restrictions targeting Venezuela, Cuba and Nicaragua, including a designation of Venezuela’s central bank and pending limits on Cuban remittances. The administration added Banco Central de Venezuela to its Specially Designated Nationals (SDN) List to “prevent it from being used as a tool of… Read More
18th April 2019
Deutsche Bank “very likely” processed illicit transactions linked to a massive Russian money laundering network that the lender was unaware of until media reports of it surfaced, a leaked audit report concluded last year. The “strictly confidential” report by the bank’s supervisory board audit committee determined that the institution’s… Read More