Friday, January 21, 2022

AML

Bulgaria moves to abandon ‘golden passports’ scheme

Bulgaria's new government moved to abolish a much-criticised "golden passports" scheme which offered Bulgarian citizenship in reward for large investments in the country. The practice, in place since 2013, has made it possible for foreigners to apply for a residence...

Prestigious law firm Mishcon de Reya fined record sum for breaching money-laundering rules

Mishcon de Reya, one of the UK’s most prestigious law firms, has been fined a record amount for committing “serious breaches” of money-laundering rules. The London-based firm has agreed to pay a fine of £232,500, plus a further £50,000 towards...

Swedbank ex-CEO faces fraud charges over Baltic scandal

Sweden’s Economic Crime Authority said on Tuesday it had charged former Swedbank CEO Birgitte Bonnesen with gross fraud stemming from a Baltic money laundering scandal. The 65-year-old Danish-born former CEO was also charged on a secondary count of serious market...

Danish woman remanded over laundering of $4.5 bln in Danske Bank scandal

A Danish woman was remanded in custody on Wednesday over her alleged involvement in a money laundering case in which more than 30 billion Danish crowns ($4.5 billion) was channelled through Danske Bank's (DANSKE.CO) Estonian branch, Denmark's public prosecutor...

Swiss bank UBS appeals against French money-laundering verdict

UBS has filed an appeal with France's Supreme Court against last week's decision by a Paris court that upheld the Swiss bank's conviction for money laundering, while slashing its penalty for allegedly helping wealthy clients evade taxes. "This enables UBS...

Binance Turkey fined $750,000 for non-compliance against money laundering

The Financial Crimes Investigation Board (MASAK) has fined Binance Turkey 8 million lira (nearly $750,000) after the crypto exchange failed the financial watchdog’s audit for monitoring Anti-Money Laundering (AML) compliance. The Financial Crimes Investigation Board (MASAK), which serves as Turkey’s...

Former Swiss Bank CEO Acquitted in Gulf Money-Laundering Case

The former boss of a defunct Zurich bank was acquitted of laundering 133 million euros ($150 million) for a Gulf businessman convicted in the 1MDB scandal. Eduardo Leemann, the ex-chief executive officer of Falcon Bank, was found not guilty of...

Malta’s Bank Of Valletta fined €2.6million over money-laundering breaches

Bank of Valletta has been hit with a massive €2.6 million fine by Malta’s Financial Intelligence Analysis Unit over breaches of money laundering legislation. The administrative fine was announced by the FIAU this morning. According to the financial crime watchdog,...

HSBC fined $85million for UK anti-money laundering failings

HSBC (HSBA.L) has been fined 64 million pounds ($85 million) by British regulators for failings in its anti-money laundering processes spanning eight years. The Financial Conduct Authority (FCA) said it had found that three key parts of HSBC's transaction monitoring systems in...

NatWest fined £265m for violating money-laundering rules

British bank NatWest was fined 264.8 million pounds ($354.30 million) on Monday for failing to comply with money laundering rules in a case that marked the first time U.K. financial regulators pursued criminal charges for such violations. The fine was...

Latest News

Ex-Detroit Councilman Andre Spivey Sentenced To Two Years In Prison For Bribery

A federal judge sentenced former Detroit City Councilman Andre Spivey on Wednesday to two years in prison for bribery, capping the first case...