About Events Contact

Money Laundering

Reset Filter

Jurisdictions

Industry Sectors

Predicate Crimes

Enforcement

Regulatory Update

Featured Money Laundering

Danske Bank executives waive 2018 bonuses after scandal

Former and current members of Danske Bank’s executive board have waived bonuses for 2018 because of the money laundering scandal linked to the bank’s Estonian branch. Danske Bank is under investigation in the United States, Denmark, Estonia, France and Britain over 200 billion euros ($226 billion) in payments that were… Read More

Banca d’Italia orders client stop at ING in fight against money laundering

The Italian central bank on Saturday said Dutch lender ING is not allowed to take on new customers in Italy as long as it has not improved its monitoring of client behavior. The measure follows inspections by Banca d’Italia from October last year until the beginning of 2019, which showed… Read More

Malaysia to summon two Goldman Sachs units ahead of 1MDB case

Malaysian prosecutors on Monday said they would issue summonses to units of U.S. investment bank Goldman Sachs in London and Hong Kong, requiring them to respond by June to criminal charges filed against them last year. Soon after being elected in May, 2018, a new government charged three units of… Read More

18th March 2019

Hungarian leader tussles with EU as corruption concerns rise

AP — As the Hungarian prime minister’s conflicts with the European Union appear headed to a breaking point, calls are increasing for greater scrutiny of his government’s spending of the bloc’s funds. An opposition lawmaker in Hungary has gathered more than 470,000 signatures to pressure Prime Minister Viktor Orban into… Read More

18th March 2019

Brazil Supreme Court decision seen as ‘blow’ to Car Wash probe

Brazil’s Supreme Court ruled on Thursday that corruption cases involving illegal campaign donations should be handled by electoral courts, a move that some prosecutors warned could hurt their groundbreaking crusade against graft. Six justices on the nation’s top court cast votes in favor of sending to electoral courts all cases… Read More

18th March 2019

For HSBC, Questions Remain Following Moldovan Asset Seizures

KYC360.com readers will be aware of the asset forfeiture order granted to UK authorities in February to seize more than £466,000 from a London student living in a luxury apartment off Cadogan Square in Knightsbridge. The young man, as one might imagine, was no ordinary student. Rather, the agency had targeted… Read More

18th March 2019

Look to ‘Sales Side’ Prosecutions for Real AML Change: Ex-U.S. Investigator

Recent headlines pointing to suspected money laundering networks and tax fraud schemes operating within European banks should startle compliance professionals, according to KYC360.com contributor and bestselling author Robert Mazur. While the ongoing investigations of Danske Bank, Swedbank, UBS and other institutions echo similar financial crime scandals of the past decade, the… Read More

14th March 2019

Financial crime: UK announces new rule for ‘golden’ visas after backtracking

After suddenly withdrawing an announcement in December that it would suspend ‘golden’ visas, the United Kingdom has now announced a change to the application process for the immigration rules which have been strongly criticised for being a gateway for money launderers to settle in the country. Under the changes announced… Read More

13th March 2019

Money laundering: Whistleblowers to get EU-wide protection under new rules

European lawmakers and member states have agreed on a new set of rules which will guarantee whistleblowers protection against demotion and dismissal when they report money laundering, tax fraud and other financial crimes. Under the provisional regulations setting EU-wide standards of protection, whistleblowers will be protected in judicial proceedings. Read More

13th March 2019

Philippines’ RCBC sues ‘vicious’ Bangladesh Bank over heist claim

A Philippine bank has filed a lawsuit accusing Bangladesh’s central bank of defamation, hitting back at what it says are baseless claims of its complicity in the world’s biggest cyber heist. In February 2016, criminals used fraudulent orders on the SWIFT payments system to steal $81 million from the Bangladesh… Read More

13th March 2019

Confessions of a compliance officer: How I handled dodgy demands

A London-based compliance officer looks back at some of the requests he came across and tells KYC360 how he reacted on the occasions he smelt trouble. He did not wish to disclose his name and details. Being a compliance officer has some highs and lows, and some colourful moments too. Read More

12th March 2019

Foreign deposits fall in euro zone banks after money-laundering scandals

Foreign deposits dropped in most euro zone states in the second half of 2018, after banks were hit by money-laundering scandals, European Central Bank data showed, a trend that could expose one of the bloc’s weak spots in tackling financial crime. Large holdings of foreign deposits and outsized cross-border financial… Read More

12th March 2019

‘Greedy’ lawyers, UK criticised over ‘chaotic’ Russian sanctions, money laundering crackdown

A leading Putin critic has reportedly hit out at the United Kingdom’s attempts to address financial crime and sanctions against the Russian government and oligarchs, saying ‘nothing is happening’ to tackle money laundering. Russian opposition leader Alexei Navalny slammed existing Western sanctions as “chaotic” and urged authorities to refocus to… Read More

Must Read

Danske Bank executives waive 2018 bonuses after scandal

Banca d’Italia orders client stop at ING in fight against money laundering

Swedbank report showed $10 billion ‘suspicious’ Baltic payments: Swedish TV

Rouhani says Iran will file legal case against U.S. for sanctions

Malaysia to summon two Goldman Sachs units ahead of 1MDB case