anti-money laundering News

EU’s Anti-Money Laundering Authority Is Now Official; Candidates for Chair Can Apply

The regulation that sets up the European Union’s new agency to combat money laundering went into force on Wednesday, and the authority already has its first job posting: the position of chair. Candidates have until July 8 to apply to …

Deutsche Bank Investors Can Sue in U.S. Over Epstein, Russian Oligarch Ties

A U.S. judge on Monday said shareholders can sue Deutsche Bank for allegedly hiding shortfalls in its internal controls while doing business with risky, ultra-rich clients like the sex offender Jeffrey Epstein and Russian oligarchs. U.S. District Judge Jed Rakoff …

Lloyd’s Stops Insuring Marijuana Firms Due to U.S. Law Conflicts

Lloyd’s of London has stopped insuring marijuana industry firms of any kind due to conflicts between federal and state laws over their legality. In a May 29 memo addressed “Dear Colleague,” obtained by Insurance Journal, Lloyd’s Director of Performance Management …

Pirate Money Promotes Global Criminal Activity: World Bank Report

Pirates hijacking ships off the Horn of Africa and Somalia from 2005 to 2012 garnered well over a quarter of a billion U.S. dollars in ransom and used the money for criminal activities worldwide, according to a report released on …