19th May 2017
Treasury Secretary Steven Mnuchin sat in front of the Senate Banking Committee on Thursday and attempted to explain the Trump administration’s position on various economic policies, including the regulation of large banks. Mnuchin continually said that the administration supports a “21st Century Glass-Steagall,” referring to the Depression-era bill that required… Read More
19th May 2017
‘Paper companies’, more commonly known as shell companies, are entities with low or no real economic activity, where the identity of the true owner is hidden in layers of secrecy. Kolkata, the first capital of colonial India and a major trading port, became the most desirable destination for the brewing… Read More
18th May 2017
As the threat of money laundering and terrorism becomes clearer, regulators and industry are working more closely together to confront the threat in a united manner. But what role does the financial services industry need to play? At the recent ANZ Financial Crime Forum, bluenotes sat down with Paul Jevtovic,… Read More
17th May 2017
“As you know the multiple forms of money laundering deprive our country of tens of billions of dollars that could build our nations and reduce the level of poverty of our people” Mrs. Sirleaf said on Saturday, 13 May at the Central Bank of Liberia or CBL. Mrs. Sirleaf was… Read More
17th May 2017
Iran’s money and credit council will discuss a new regulation on the country’s financial policies to fight money laundering and terrorist financing in the coming days, a senior Iranian banker said. Governor of Central Bank of Iran (CBI) Valiollah Seif has said that the new regulation on the country’s financial… Read More
KYC360's Tom Devlin interviews Simon Gaudion, Director of the Enforcement Division at the Guernsey Financial Services Commission. Read More
16th May 2017
The saga continues for Wells Fargo, as plaintiff lawyers in its fraudulent case up the fictitious accounts opened number. Lawyers for the plaintiff side are projecting that Wells Fargo employees opened up approximately 3.5 million accounts without customer consent. In this $142 million settlement lawsuit, this estimate filing was made… Read More
16th May 2017
An anti-money laundering partnership between Australia’s big four banks and the continent’s government designed to share more information in real time is getting good reviews but probably isn’t exportable to the U.S., several lawyers and consultants said. The Fintel Alliance launched in March “offers an unprecedented opportunity for government and… Read More
16th May 2017
US regulators are clamping down on trade-based money laundering, but they should look further than banks to combat the practice. Financial crime was at the forefront of the agenda at the 2017 annual conference of the Bankers Association for Finance and Trade (BAFT): on top of a number of banks’… Read More
11th May 2017
The World Bank announced the debarment of two China construction companies and a medical equipment supplier in Romania. Zhengtai Group Co. Ltd. and 20 affiliates were debarred for 15 months. Read More