Latest AML & KYC News

20th May 2019

Lawbreakers to lawmakers? The ‘criminal candidates’ standing in India’s election

India’s ruling Bharatiya Janata Party (BJP) has one unwanted lead in this month’s general election race – according to data from an electoral watchdog it is fielding the most candidates among the major parties who are facing criminal charges. Its main rival, Congress, is just a step behind. Election laws… Read More

20th May 2019

Lebanon health minister says no concerns over sanctions

AP — Lebanon’s health minister — named to the post by the country’s Hezbollah group — said Saturday he has overcome U.S. concerns about his ministry potentially funneling finances to the militant organization by gaining public trust and ensuring transparency. Jamil Jabak told The Associated Press that although he is… Read More

20th May 2019

EU fines banks over $1 billion over foreign exchange cartel

AP — European Union regulators have fined five banks a total of more than 1 billion euros ($1.1 billion) for colluding in the trade of large sums of foreign currency. The European Commission said Thursday that investigators found that some bank employees in charge of spot trading in 11 currencies… Read More

20th May 2019

BC Money Laundering Inquiry Raises Questions for the Rest of Canada

British Columbia’s recently announced probe into suspected money laundering has drawn promises of cooperation from federal officials along with new questions for other provinces. On Wednesday, British Columbia (BC) Premier John Horgan announced that his government would conduct a public inquiry into the “extent, growth, evolution and methods of money… Read More

17th May 2019

Police smash ‘GozNym’ cybercrime network that stole $100 million

Police in six countries have dismantled a complex cybercrime network that operated from Eastern Europe and fleeced victims – including small businesses and charities – of some $100 million, Europe’s police agency said on Thursday. The GozNym network, led by a man from Tbilisi, Georgia, used phishing emails to infect… Read More

17th May 2019

U.S. sanctions Chechen group, Russians for alleged human rights abuses

The United States on Thursday imposed sanctions on a Chechen group and five individuals, including at least three Russians, for alleged human rights abuses under the Global Magnitsky Act, including extrajudicial killings and the torture of LGBTI individuals. The sanctions against the Terek Special Rapid Response Team in the Chechen… Read More

17th May 2019

U.S. urges Latvia to step up reform after money-laundering scandal

Latvia came under renewed pressure to accelerate financial reforms as a senior U.S. official, at a meeting with its prime minister, underscored the urgent need for stricter controls after a money laundering scandal. His remarks come more than a year after the United States acted to shut down ABLV, a… Read More

17th May 2019

Stung by U.S. sanction threats, EU seeks ways to boost the euro

The European Union is seeking new ways to widen use of the euro and counter the dollar’s global dominance, top EU officials said on Thursday, as the bloc tries to salvage Iran’s nuclear deal by helping companies bypass U.S. sanctions. Fears they will be hit with sanctions have pushed European… Read More

17th May 2019

Argentina corruption trial against Fernández set to proceed

AP — Argentina’s Supreme Court says the first corruption trial against former President Cristina Fernández is still scheduled to start next week, despite a judicial order that her opponents feared could delay the trial into the presidential campaign season or beyond. The court this week said it would review the… Read More

17th May 2019

Court ruling puts Guatemala vote, anti-graft fight in doubt

AP — A high court ruling barring a crusading former prosecutor’s candidacy has turned Guatemala’s presidential election on its ear less than a month before the vote, and raised concerns about what will happen to years of efforts to fight endemic corruption. The rejection of Thelma Aldana’s appeal means at… Read More