5th September 2016
Standard Chartered expects it will remain under U.S. supervision for several more years over lapses in Iran-related anti-money laundering efforts because it needs more time to improve its internal standards, sources with knowledge of the matter said. Read More
5th September 2016
A former French budget minister is going on trial for hiding part of his wealth in tax havens around the world while fighting tax evasion at home. Jerome Cahuzac is to appear in a Paris court Monday on charges of tax fraud and money laundering that forced him to resign… Read More
2nd September 2016
Iran and Russia on Thu. signed an MoU in the fields of banking cooperation, anti-money laundering, countering the financing of terrorism, and development of settlements in national currencies in bilateral trade. Read More
2nd September 2016
Econet’s EcoCash released a public statement today distancing itself from MMM Global Zimbabwe and any other illegal activities such as Ponzi schemes. In their public statement, EcoCash reminded us that it is a licensed mobile payment platform that facilitates financial transactions (sending & receiving money, buying prepaid airtime and paying… Read More
2nd September 2016
The US Treasury has sought to soften the perception of its enforcement of an anti-money laundering (AML) regime against international banks, by emphasising that its policy is not one of “zero tolerance”. Read More
2nd September 2016
Papua New Guinea’s former prime minister Sir Michael Somare has been implicated in a money laundering case in Singapore. The Straits Times reports that in 2010 a married couple laundered US$3.6 million which had been meant to set up community colleges in PNG – then gave US$784,000 of it to… Read More
1st September 2016
he Department of Justice (DOJ) has already wrapped up its preliminary investigation on the money laundering charges on the $81 million stolen by hackers from Bangladesh Bank in New York and funneled through bank accounts in Manila. Assistant State Prosecutor Gilmarie Fe Pacamara has concluded the preliminary investigation on the… Read More
1st September 2016
THE Singapore Court has sentenced two senior executives to prison for money laundering offences surrounding a community college project in Papua New Guinea. American citizen Thomas Philip Doehrman, 68, director of Quest Petroleum (Singapore), was sentenced to 70 months of jail time. Singaporean national Lim Ai Wah, Doehrman’s spouse and… Read More
1st September 2016
The former operator of the Normandie Club in Gardena has been ordered to pay a $1 million criminal fine and to forfeit nearly $1.4 million after pleading guilty to violating the Bank Secrecy Act by failing to report large cash transactions to federal authorities. During a federal court hearing yesterday,… Read More
1st September 2016
Sebi had on April 4 given brokerages 60 days' time to have their books vetted Read More