FINRA Fines Raymond James $17 Million for Systemic Anti-Money Laundering Compliance Failures
23rd May 2016
FINRA Fines Raymond James $17 Million for Systemic Anti-Money Laundering Compliance Failures
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Raymond James & Associates, Inc. (RJA) and Raymond James Financial Services, Inc. (RJFS), a total of $17 million for widespread failures related to the firms’ anti-money laundering (AML) programs. RJA was fined $8 million and RJFS was fined… Read More
Corruption trial begins for Alabama House speaker
23rd May 2016
Corruption trial begins for Alabama House speaker
Shrewd, intelligent and disciplined, House Speaker Mike Hubbard was the general of the GOP offensive in 2010 to win Republican control of the Alabama Legislature, a body that had been under the direction of Democrats since Reconstruction. Read More
Las Vegas Conference Tackles Gaming Anti-Money Laundering Measures, While Major Heroin Bust in Delaware Ends up Laundered in State Casinos
20th May 2016
Las Vegas Conference Tackles Gaming Anti-Money Laundering Measures, While Major Heroin Bust in Delaware Ends up Laundered in State Casinos
The Bank Secrecy Act Conference at the South Point in Las Vegas this week drew legal representatives from across the casino industry to discuss the issue of anti-money-laundering compliance. Read More
US Treasury Facilitates Trade with Burma, but Money Laundering and North Korean Risks Remain
20th May 2016
US Treasury Facilitates Trade with Burma, but Money Laundering and North Korean Risks Remain
Earlier this week, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) continued the transition of the Burmese sanctions program from comprehensive prohibitions to targeted, more limited “smart sanctions.” Read More
Raymond James’ AML Controls Found Lacking
19th May 2016
Raymond James’ AML Controls Found Lacking
Raymond James has been fined $17 million in the wake of findings by the Financial Industry Regulatory Authority (FINRA) that the financial services company has shown failures in its internal controls geared toward money laundering. The regulatory agency said on Wednesday (May 18) that this is the biggest fine that has been imposed on AML deficiencies. Read More
Obama’s global anti-corruption cops should call Internal Affairs: Column
19th May 2016
Obama’s global anti-corruption cops should call Internal Affairs: Column
Our Democratic president continues to fund global corruption just like the Republican before him. It looks like Hillary Clinton will too. Read More
Unaoil Says it was victim of extortion, denies multi-billion dollar corruption allegations
19th May 2016
Unaoil Says it was victim of extortion, denies multi-billion dollar corruption allegations
Unaoil, a Monaco-based oil-services company, denied allegations posed by Fairfax Media and The Huffington Post that it was at the center of a multi-billion dollar bribery scheme and claimed it was the victim of extortion. Read More
US eases economic sanctions on Myanmar
18th May 2016
US eases economic sanctions on Myanmar
The US has lifted more of its economic sanctions on Myanmar to signal its support for ongoing political reform after decades of military rule. Read More
US: Seven former top officials of Beaumont charged with corruption
18th May 2016
US: Seven former top officials of Beaumont charged with corruption
Seven former officials of the city of Beaumont have been named in a corruption case that includes charges of embezzlement and misappropriating of funds, according to Riverside County Superior Court records. Read More
US: Heroin money laundered at casinos, police say
18th May 2016
US: Heroin money laundered at casinos, police say
A 31-year-old Felton man, Deangelo Mcglotten, is the "ringleader" of a large-scale heroin distribution effort that a two-year police investigation just broke apart, authorities said announcing the indictment of Mcglotten and 13 other people on drug, conspiracy, racketeering and money laundering charges. Read More
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