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Trump’s Bank Was Subpoenaed by N.Y. Prosecutors in Criminal Inquiry

The New York prosecutors who are seeking President Trump’s tax records have also subpoenaed his longtime lender, a sign that their criminal investigation into Mr. Trump’s business practices is more wide-ranging than previously known. The Manhattan district attorney’s office issued the subpoena last year to Deutsche Bank, which has been… Read More

New York Is Investigating Trump and His Company Over Bank Fraud, Filing Suggests

The Manhattan district attorney’s office suggested on Monday that it had been investigating President Trump and his company for possible bank and insurance fraud, a significantly broader inquiry than the prosecutors have acknowledged in the past. The suggestion by the office of the district attorney, Cyrus R. Vance Jr., came… Read More

UK regulators tighten sanctions controls on maritime trade

The UK’s top sanctions regulator has issued landmark guidance for all companies involved in maritime trade, instructing them to pay closer attention to vessel behaviour, company structures and potentially forged documents. The Office of Financial Sanctions Implementation (OFSI) warns that “a variety of tactics are deployed to confuse or conceal… Read More

29th June 2020

DOJ Compliance Guidance Places New Emphasis on Middle Management, Use of Data

A recent revision to U.S. Justice Department guidance on corporate compliance is placing increased emphasis on the role of middle management and access to internal data as it broadens the scope of how prosecutors evaluate companies’ policies and controls. “We wanted to make sure the midlevel management is also echoing… Read More

17th June 2020

Small banks’ battle to thwart unemployment scams

As banks try to stop fraudsters from exploiting unemployment insurance programs overwhelmed by the pandemic, some of their efforts are working and others are falling short. They’re finding that customers are unknowingly complicit and it’s hard to uncover the full story behind a transaction. In thousands of cases around… Read More

11th June 2020

Steering clear of Iran petroleum sanctions

July 14, 2015 was a landmark date in the long-running feud between Europe, the US and Iran. Iranian officials agreed to terminate the country’s nuclear programme, and in exchange, would benefit from the removal of crippling sanctions – including on petroleum exports. Trade with the EU soared. Over the following… Read More

5th June 2020

Senators to Back Expanding Nord Stream 2 Sanctions to Insurers

A bipartisan group of senators is planning to introduce legislation that would expand U.S. sanctions against Gazprom PJSC’s Nord Stream 2 pipeline between Russia and Germany by taking aim at insurance companies that work with Russian vessels on completion of the project. Senator Ted Cruz, one of the… Read More

19th May 2020

Moldova Seeks Plahotniuc’s Extradition Over $100 Million Bank Theft Charges

Moldova’s General Prosecutor, Alexandr Stoianoglo, on Monday said the fugitive tycoon Vlad Plahotniuc, the former leader of the Democratic Party, PD, had illegally got hold of 100 million US dollars from the banking system. He added that Plahotniuc was helped in this action by a group of companies belonging to… Read More

15th May 2020

Trump administration issues global maritime advisory on sanctions, with industry input

The Trump administration on Thursday issued guidelines to help ship owners and insurers avoid the risks of sanctions penalties, standards that maritime players and a senior State Department official said were modified following months of discussions with industry. The guidelines, known as a Global Maritime Advisory, concern sanctions on Iran,… Read More

11th May 2020

The Art of the SAR

If filing a suspicious activity report is more of an art than a science, it should be remembered that not all art is equal. Like a painting hung in a museum, a good SAR must be the product of focus and intention if it’s to engage its intended audience. For… Read More

1st May 2020

UAE doing too little to stem money laundering and terrorist finance: FATF

The United Arab Emirates is not doing enough to prevent money laundering despite recent progress, and causing concerns about its ability to combat financing of terrorism, the global dirty money monitoring group said on Thursday. The U.S.-allied Gulf state, which includes the region’s financial and commercial centre Dubai, will now… Read More

20th April 2020

Mexican authorities query 50 banks in probe of ex-President Peña Nieto and his family

The federal government headed by President Andrés Manuel López Obrador ordered that all accounts and financial movements made by former President Enrique Peña Nieto and his closest relatives during his administration be traced in at least 50 national and foreign banking institutions. The Financial Intelligence Unit of the Treasury Department,… Read More

13th April 2020

Terror Financing Watchdog Extends Pakistan Action Plan Deadline Amid Coronavirus

Pakistan has until October to meet Financial Action Task Force (FATF) requirements to be delisted from the organization’s “gray list,” sources inside the Pakistani government told VOA. The so-called “gray list” limits access to the global financial system for countries that fail to meet their responsibilities to stop terror-funding and money laundering. The global watchdog,… Read More

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