29th December 2016
Canada’s money-laundering agency is refusing to name the bank hit with an unprecedented penalty for failing to report a suspicious transaction and committing hundreds of other violations in its dealings with a controversial client. Details of the failures — including one the agency described as “very serious” — were revealed in documents obtained by National Observer and the Toronto Star. Read More
28th December 2016
Tens of billions of dollars every year move through opaque law-firm bank accounts that create a gap in U.S. money-laundering defenses, according to a Wall Street Journal analysis. Read More
28th December 2016
The UK has slipped below France this year in the World Economic League Table (Welt), which tracks the size of economies around the world and forecasts how this might change in the next 15 years. Read More
28th December 2016
Three Chinese citizens accused of hacking into computers of American law firms advising on company mergers have been charged with multi-million dollar cyber fraud in New York. Read More
22nd December 2016
A former fund manager at the world’s biggest investment firm has been sentenced to a year in prison for insider trading, in a case that stretched to Switzerland and Panama and involved secret mobile phones. Read More
15th December 2016
2016 Financial Action Task Force report finds Switzerland’s AML/CFT regime to be robust and achieving good results. But the country has a high level of vulnerability to money laundering and there are still improvements to be made. Read More
9th December 2016
It has been ten years since FATF published its last Mutual Evaluation Report (MER) of the United States. On December 1st, 2016, as many of us turned our attention to the final month of what has been quite an eventful regulatory year (think Panama and Bahamas Leaks, FinCEN Final Rule,… Read More
9th December 2016
Exactly one year ago US Vice President Joe Biden spoke at the Verkhovna Rada, Ukraine’s Parliament. He talked about the historic chance offered by the Maidan revolution, the conflict with Russia and the desperate need for the country to reform. During his speech, one topic came up again and… Read More
9th December 2016
The U.S. derivatives regulator will move on from reforms created in the wake of the 2007-09 financial crisis to a new focus on U.S. competitiveness and the potential for shocks to the global $710 trillion swaps markets under President-elect Donald Trump. J. Christopher Giancarlo, in line to head the Commodity… Read More
9th December 2016
Tougher rules are needed to protect investors in crowdfunding platforms, the Financial Conduct Authority (FCA) has said. It said it was too difficult to assess the risks and returns of investments, and suggested applying “mortgage-lending standards” to loan-based platforms. Read More