Search Results for: Money laundering
Deutsche Bank fined $425 million; the Bank allowed traders to engage in a Money-Laundering scheme
January 31st, 2017
The New York State Department of Financial Services (DFS) has issued an announcement to inform for a $425 Million fine imposed to Deutsche Bank. The Bank Allowed Traders to Engage in a Money-Laundering Scheme Using “Mirror Trades” That Improperly ...
Law Firms’ Accounts Pose Money-Laundering Risk
December 27th, 2016
Law Firms’ Accounts Pose Money-Laundering Risk Hundreds of millions of dollars allegedly siphoned from Malaysian state fund 1MDB passed through firms’ pooled accounts in U.S., prosecutors say Tens of billions of dollars every year move through opaque law-firm bank ...
Credit Suisse Said to Face Money-Laundering Probe in Italy
February 23rd, 2016
Bank also said to be probed for tax evasion in Milan case Bank says business has clear rules, focused on declared assets Milan prosecutors are investigating Credit Suisse Group AG on suspicion of money laundering and tax evasion over ...
HSBC pays out £28m over money-laundering claims
June 5th, 2015
Geneva prosecutor agrees to close investigation into HSBC in return for the financial settlement HSBC has been ordered to pay a record 40m Swiss francs (£28m) and been given a final warning by the Geneva authorities for “organisational deficiencies” which ...
Switzerland bows to pressure; Tightens money-laundering rules
December 15th, 2014
The Swiss Parliament has bowed to international pressure, tightening the country’s money-laundering rules. There will be a CHF100,000 ($104,000) cap on cash transactions, and not just foreign dictators, but also senior politicians and officials like Sepp Blatter, will be ...
Ex-U.S. Envoy Khalilzad Money-Laundering Probe Leads to Austria
September 8th, 2014
A U.S. probe into alleged money laundering by Zalmay Khalilzad has led Austrian authorities to freeze a Vienna bank account linked to the former presidential envoy to Afghanistan. Khalilzad, who served as U.S. ambassador to Afghanistan and Iraq, allegedly ...
Money-Laundering increase, urges hiring by British Banks
August 18th, 2014
U.K. banks have made a push to hire more anti-money laundering staff as regulatory scrutiny grows, with a 54 percent increase in the number of roles available over the last year, according to a recruitment firm. More than 2,157 ...
Big banks moved trillions despite knowing money was illegal; FinCEN
September 22nd, 2020
Leaked documents reveal major flaws in the global effort to curb money laundering. Major international banks are in hot waters again. Confidential documents leaked to journalists show that some of the biggest international banks continued to do business with corrupt ...
Online scams: It might not be too late to get your money back
August 17th, 2020
From denial to anger to acceptance, victims of financial fraud often go through something resembling the five stages of grief. Too often, victims of online scams will be reluctant to take action once they realize they have been defrauded, ...
Time to learn about money
May 14th, 2020
An unexpected destruction of fiat currency has been advanced by the monetary and fiscal response to the coronavirus. Financial markets have yet to discount the possibility of such an outcome, but in the coming months they are likely ...
