2nd September 2019
The United States has imposed sanctions on two people and three firms and has identified a blocked ship that it says helped North Korea evade sanctions, the Treasury Department said on Friday. The sanctions target a shipping network that the Treasury Department says engaged in ship-to-ship oil transfers with North… Read More
2nd September 2019
Lebanon said it will investigate Jammal Trust Bank SAL after the U.S. blacklisted the lender for allegedly facilitating banking for the Iran-backed Hezbollah movement. The central bank is to monitor the bank’s operations and look to see if it has violated the law, Governor Riad Salameh said in an… Read More
28th August 2019
Australia’s big banks will face potential penalties within the next six months for breaching money laundering laws, Australia’s financial intelligence agency head said on Tuesday. AUSTRAC Chief Executive Nicole Rose said banks have stepped up self-reporting of breaches to the agency by 70% since it launched civil action against Commonwealth… Read More
27th August 2019
Deutsche Bank had repeatedly failed to secure work with a Russian government entity when it was approached with a proposal: Hire the daughter of a high-ranking official at the organization. “We must do it!” a senior Deutsche Bank official said, according to the Securities and Exchange Commission. “We should… Read More
26th August 2019
The UK’s finance watchdog is investigating a British Qatari- controlled bank that has been acting as a platform for extremists’ interests in Europe. The British-registered, Qatari state controlled bank Al Rayan, is being investigated over its money laundering controls. The bank told shareholders that its “anti-money laundering processes and controls… Read More
23rd August 2019
Deutsche Bank AG will pay $16.2 million to settle a U.S. regulator’s allegations that it hired relatives of overseas government officials to win business, making it the latest firm ensnared in a scandal that rocked Wall Street and sparked years-long investigations. The hiring, which lasted from at least 2006… Read More
22nd August 2019
Norway’s Financial Supervisory Authority (FSA) found significant shortcomings in DNB’s compliance with anti-money laundering (AML) regulations during a late-2018 inspection, the bank regulator said in a report released on Wednesday. Long regarded as not a major risk issue for Nordic banks, money laundering has become a major concern in the… Read More
22nd August 2019
The U.S. Treasury on Wednesday imposed sanctions on three Chinese men accused of illegally trafficking fentanyl, acting three weeks after President Donald Trump accused Beijing of reneging on pledges to stem a flood of the highly addictive synthetic opioid into the United States. The trio included a father and son… Read More
19th August 2019
The nation’s anti-money laundering regulator warns it is likely to take more action against Australia’s top financial institutions after being “flooded” with reports of potential breaches following its landmark case against the Commonwealth Bank. Austrac chief executive Nicole Rose said the 2017 case against CBA over its mass breach of… Read More
19th August 2019
Newly released U.S. court documents show the United States issued a warrant for the seizure of an Iranian tanker that British Royal Marines had seized last month in Gibraltar, citing evidence that it was transporting oil to Syria in violation of U.S. sanctions. The oil tanker Grace 1, the more… Read More