The Financial Conduct Authority (FCA) has today fined Deutsche Bank AG (Deutsche Bank) £163,076,224 for failing to maintain an adequate anti-money laundering (AML) control framework during the period between 1 January 2012 and 31 December 2015.
How do terrorists move money? This article examines six of the most widely used methods: cash couriers, informal transfer systems (e.g. hawala), money service businesses, formal banking, false trade invoicing, and high value commodities.
A former Bank of America employee has been cleared by a Swiss court of money laundering charges in connection with the collapsed Parmalat dairy scandal. The accused was set free after being found guilty of falsifying documents and being fined.
The Halifax Bank of Scotland fraud trial is highly unusual in that senior bankers are convicted of crimes, including fraud and hiding the proceeds of crime, in the boom of irresponsible lending ahead of the 2008 crash.
Eugene Soltes is a professor at Harvard Business School as well as the author of “Why They Do It”, which focuses on white-collar crime.
Two Honduran executives allegedly used a Panamanian business and a US bank to pay $2.5 million in bribes, suggesting that banks based in Panama and the United States may be involved in one of the biggest corruption cases in Honduras.
In the final part of an exclusive series of four webinars Elise Bean, former Staff Director and Chief Counsel of the U.S. Senate Permanent Subcommittee on Investigations, will explore the case of Riggs Bank. Riggs, a D.C. based commercial bank with branches around the world, was effectively shut down by means of a merger in 2005 following revelations that it handled deposits from Augusto Pinochet, the Saudi royal family and the dictator of Equatorial Guinea among others. Elise will consider what can be learnt for the case for financial crime prevention regimes today.
Congressional Republicans are set to overturn a slew of Obama-era regulations next week, including a controversial anti-bribery rule aimed at U.S. resource companies such as Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), according to a top lawmaker.
As regulatory compliance initiatives move toward utilizing machine learning and artificial intelligence (AI), what effect might the increased efficacy of AML programs have on developing nations and small financial players without large compliance budgets? More ...
This article first appeared on LinkedIn. It is republished here with the author's permission. Back in 2013 people in the UK and Ireland found the “beef lasagna” on their plates was “horse lasagna”. In countries where they like ...
KYC360 interviews Ana Linda Solano, former Director of the Economic and Financial Judicial Police in Colombia. Transcript Amos Wittenberg: Thanks for listening in to this episode of the KYC 360.com podcast, a regular series of conversations with leaders ...
Malta’s Minister of Finance failed to answer The Malta Independent’s questions on why it has not transposed the latest EU anti money laundering directive into law. The EU Commission some weeks ago penned a letter to ...
The head of the credit card division of the notorious Tanzania-based FBME Bank allegedly helped an international child pornography ring launder money through the bank, according to a 52-page privileged and confidential report prepared by ...
Global auditing giant KPMG agreed to pay $6.2 million in penalties to settle Securities and Exchange Commission charges that it
Sanctions imposed by other Arab states are continuing to push up food prices in Qatar while hurting the real estate
PwC has been handed a record £5.1 million fine for “extensive” misconduct after admitting a litany of failures in its
Former Russian Economy Minister Alexei Ulyukayev told his bribery trial on Wednesday that he had been framed by a close