Belgian and Latvian authorities have seized Russian assets in a notorious money-laundering affair that saw the killing of whistleblower Sergei Magnitsky.
Banks are cracking down on transfers to cryptocurrency exchanges by suspending payments to the sector amid rising fears that it has become a hotbed for financial crime.
The Federal Reserve told Deutsche Bank AG in recent weeks that the lender is failing to address persistent shortcomings in its anti-money-laundering controls, according to people familiar with the matter.
The Qatari state has been accused of playing a central role in a secret money laundering operation to send hundreds of millions of dollars to jihadists in Syria.
Many cryptocurrency firms are not meeting Britain’s anti-money laundering and financing rules and, as a result, unprecedented numbers of them have withdrawn applications to register with the country’s financial watchdog, it said on Thursday.
Almost every day it seems a new form of digital money emerges, often touted as the next hot idea. But with so many governments indicating interest in these developments, central bank digital currencies (CBDCs) might actually be a technology to change the world.
Good luck finding a major bank in Europe that hasn’t breached money laundering regulations.
In Denmark, the two largest banks, Danske Bank and Nordea, are both currently subject to criminal investigations. BNP Paribas received the highest-ever fine in 2014, when it settled with U.S. authorities and had to pay $9 billion for sanctions violations. Many others — from HSBC and Standard Chartered in the U.K. to Deutsche Bank and UBS and Credit Suisse — have had to answer for offenses.
EU leaders triggered new economic sanctions against Belarus and punitive measures against its national airline as a dissident taken from a “hijacked” Ryanair flight was paraded on the country’s television news apparently confessing to crimes against the state.
Julius Baer Group Ltd. will pay almost $80 million to resolve a U.S. probe of its role in the payment of tens of millions of dollars in bribes to leaders of FIFA, the governing body for world soccer.
That anonymous shell companies are the vehicle of choice for the corrupt and criminals is no longer a secret. New cases of cross-border corruption and money laundering are reported almost on a weekly basis, where perpetrators often hide behind secretive corporate structures.