19th November 2019
The European Central Bank (ECB) has terminated the license of Anglo-Austrian Bank, better known as Bank Meinl, amid allegations of anti-money laundering (AML) compliance failures, the Financial Times reported Friday. The ECB’s decision, first disclosed by Austria’s financial regulator, follows an institutional decision to exit the banking sector, the… Read More
18th November 2019
The prospect that another big Nordic bank will be dragged into the widening scandal over money laundering in the Baltics rattled investors Friday. Shares of Sweden’s SEB AB plunged the most since the peak of the financial crisis after the bank said it was contacted by SVT, the nation’s… Read More
18th November 2019
Investigations into money laundering at Danske Bank A/S should be expanded to include the lender’s possible use of gold as a way to help clients in Estonia hide their fortunes, according to Danish lawmakers. “Danske Bank has some explaining to do,” Torsten Schack Pedersen, a Liberal Party member on… Read More
18th November 2019
A British company regulated by the City watchdog has links to a notorious cryptocurrency exchange at the centre of a US money laundering trial, according to anti-corruption investigators. Global Witness, an anti-corruption NGO, has uncovered fresh evidence of connections between Mayzus Financial Services (MFS), a Russian-owned company incorporated in the UK,… Read More
18th November 2019
Officers of Ukraine’s Security Service (SBU) have over the weekend arrested the chairman of state-owned Ukreximbank, Oleksandr Hrytsenko, on suspicion of creating an organized crime group, embezzlement, and money laundering. SBU spokeswoman Olena Hitlyanska said on November 16 that the suspect is being held in a temporary detention center on… Read More
18th November 2019
The U.S. government will strictly enforce a rule that requires cryptocurrency firms engaged in money service businesses such as digital asset exchanges and wallet service providers to share information about their customers, Kenneth Blanco, director of the Financial Crimes Enforcement Network (FinCEN), said on Friday. Part of anti-money laundering regulations,… Read More
18th November 2019
British lawmaker Peter Hain will tell an inquiry on Monday that corruption under South Africa’s former president Jacob Zuma was enabled by international banks, corporations and governments which should now seek to recover the loot they helped launder. Hain’s submission on Monday to the Judicial Commission of Inquiry into State… Read More
18th 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
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
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