Banamex USA Agrees to Forfeit $97 Million in Connection with Bank Secrecy Act Violations

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Monday, May 22, 2017 Today Acting Assistant Attorney General Kenneth A. Blanco of the Justice Department’s Criminal Division announced that Banamex USA (BUSA), a financial institution based in Los Angeles, California, and a subsidiary of Citigroup Inc., agreed to forfeit $97.44 million and entered into…

Details

Panama Papers: has transparency improved a year on?

Inside Financial & Risk    –     Thomson Reuters James Swenson    04 Apr 2017   A year since the Panama Papers data leak sparked worldwide controversy around the use of offshore companies, has transparency increased and is it any easier for compliance officers to identify Ultimate Beneficial Owners (UBOs)? Following the release of the Panama Papers one year…

Details

British banks handled vast sums of laundered Russian money

The Guardian Exclusive: Billions of dollars were moved out of Russia in ‘Global Laundromat’ operation, with anonymously owned UK companies playing major role Luke Harding, Nick Hopkins and Caelainn Barr Monday 20 March 2017 14.00 EDT Last modified on Monday 3 April 2017 09.06 EDT   Britain’s high street banks processed nearly $740m from a vast money-laundering…

Details

Spain probes Syrian president’s uncle on money-laundering suspicions

El Pais Court orders property searches and freezes bank accounts as part of inquiry into Rifaat al-Assad Fernando J. Pérez, Óscar López-Fonseca Madrid 4 ABR 2017 – 07:51 EDT Spain’s central High Court has launched an operation against relatives of the president of Syria, Bashar al-Assad, for alleged crimes of money laundering in criminal association.…

Details

Australian Government – Attorney General’s Department: AML/CTF statutory review implementation

On 29 April 2016, the Minister for Justice, the Honourable Michael Keenan MP, released the Report on the Statutory Review of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and Associated Rules and Regulations. The report contains 84 recommendations to streamline and strengthen Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime. Industry consultation​ Phase 1…

Details