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Russian security services used Estonia to fund activities abroad: Estonian minister

Russia’s security services moved money through Estonia to finance operations overseas, the Baltic country’s finance minister, who is leading a clean up after a money laundering scandal, told Reuters. Martin Helme said that Estonian authorities are also investigating whether individuals under U.S. sanctions benefited from the movement of money through… Read More

NAB faces ‘significant’ penalties for money laundering breaches

NAB is facing a significant financial penalty from the financial intelligence regulator after self reporting a large number of breaches of anti-money laundering and counter-terrorism laws and says there may be more to come. The bank is still working on fixing shortcomings within its anti-money laundering and counter-terrorism financing systems… Read More

Greece’s New Penal Law is Likely to Return Riches to Money Launderers: FT

Legislation approved by Greece’s parliament late Wednesday night appears to put the nation at odds with international anti-money laundering standards, the Financial Times reported Thursday.  The measure, which was backed by the government of Prime Minister Kyriakos Mitsotakis, amends Greece’s penal code to permit individuals suspected of money… Read More
15th November 2019
Russia’s security services moved money through Estonia to finance operations overseas, the Baltic country’s finance minister, who is leading a clean up after a money laundering scandal, told Reuters. Martin Helme said that Estonian authorities are also investigating whether individuals under U.S. sanctions benefited from the movement of money through… Read More
15th November 2019
NAB is facing a significant financial penalty from the financial intelligence regulator after self reporting a large number of breaches of anti-money laundering and counter-terrorism laws and says there may be more to come. The bank is still working on fixing shortcomings within its anti-money laundering and counter-terrorism financing systems… Read More
15th November 2019
Legislation approved by Greece’s parliament late Wednesday night appears to put the nation at odds with international anti-money laundering standards, the Financial Times reported Thursday.  The measure, which was backed by the government of Prime Minister Kyriakos Mitsotakis, amends Greece’s penal code to permit individuals suspected of money… Read More
15th November 2019
The German Parliament on Thursday passed a raft of anti-money-laundering measures to bring the country in line with EU directives. The reform packet imposes stricter regulations for real estate agents, notaries, precious metals dealers and auction houses to declare transactions to prevent money laundering and terrorism financing. The laws… Read More
15th November 2019
Denmark’s financial regulator has ordered the Danish unit of Swedish Handelsbanken (SHBa.ST) to strengthen its anti-money laundering efforts and revise its risk evaluation, the watchdog said on Thursday. “The branch’s inherent risk of being misused for money laundering or terrorist financing is normal to high compared to the… Read More
15th November 2019
More than 180,000 companies could face fines of up to €500,000 if they fail to submit information by next week under measures to tackle white-collar crime and money laundering by next week. Just over a fifth of the 234,000 companies obliged to submit information on beneficial ownership to the Companies… Read More
15th November 2019
Saipan casino operator Imperial Pacific International (IPI) is under US federal investigation for possible wire fraud, money laundering and illegal campaign contributions to the local governor. Last week, Federal Bureau of Investigation agents descended on Saipan to stage multiple raids on the offices of IPI and an IPI… Read More
15th November 2019
Generally speaking, “money laundering” is not at the top of anyone’s agenda as they go about their daily lives.  The average person might occasionally read a news article about a drug dealer convicted of drug trafficking and money laundering or hear a passing mention on a television show, but… Read More
14th November 2019
The State Bank of Pakistan (SBP) had fined Habib Bank Limited (HBL) an amount of Rs35.62 million on October 4 for violating regulations. According to a notice issued by the SBP, the penalty was imposed mainly on the “deficiencies” in HBL’s foreign exchange operations and Customer Due Diligence (CDD). “The… Read More
14th November 2019
The BCBS says different supervisory functions should exchange information and cooperate both domestically and across borders, regardless of the institutional setting. The BCBS (Basel Committee on Banking Supervision) is proposing revisions to strengthen the interaction and cooperation between prudential and AML/CFT supervisors. The proposed changes to its June 2017… Read More