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 …
Singapore’s banking sector, including wealth management, poses the highest money laundering risk in the city-state, the government said in a money laundering risk assessment report published on Thursday. Banks had higher exposure to money laundering threats and could be more …
The US Department of Justice has slapped criminal penalties on UK reinsurance brokers Tysers Insurance Brokers Ltd. and H.W. Wood Ltd. as a result of their participation “in a corrupt scheme to pay bribes to Ecuadorian government officials,” the DOJ …
In February 2019, Binance Holdings Ltd.’s then-Chief Compliance Officer Samuel Lim acknowledged that the cryptocurrency exchange was being used to funnel money to Hamas, explaining to a colleague that terrorists normally sent “small sums.” Hamas could “barely buy an AK47 …
Two founders of Tornado Cash, a cryptocurrency mixing service that has been under scrutiny by various US agencies for more than a year, were charged with helping launder more than $1 billion for clients that included a North Korean cybercrime …
The Federal Reserve said on Wednesday it fined Deutsche Bank and its U.S. affiliates $186 million for failing to sufficiently address money laundering control problems and other shortcomings previously flagged by the U.S. central bank. The new penalty for lingering …
Panama expects international financial-crime watchdog FATF to remove it this October from a watch list for nations deemed to be doing too little to fight money laundering, the country’s deputy finance minister said, adding that other intergovernmental groups might follow …
When UBS Group AG integrates Credit Suisse Group AG in the coming months, the Swiss bank plans to run staff from the scandal-prone former rival through what Chairman Colm Kelleher dubbed a “culture filter” to weed out potential bad apples. …
Santander UK Plc was fined £108 million ($132 million) by the UK financial watchdog over repeated anti-money laundering failures that included a series of missteps over its monitoring of hundreds of millions of pounds of suspicious funds. The bank had …
Danske Bank’s former chief executive Thomas Borgen was cleared by a Danish court on Tuesday of any liability for shareholder investment losses linked to the lender’s involvement in one of the world’s largest money-laundering scandals. A group of 155 institutional …
