Large global banks are facing increased pressure from US regulators to clamp down on casino money-laundering as the government pushes the industry to police not only its own transactions but customers' as well.
A verdict is due in the trial of 16 men accused of being part of a money laundering racket that transferred up to BD350 million ($923.7 million).
They include 11 managers and employees working for an exchange c
Lawyers have submitted final arguments in the trial of 16 men accused of being part of a money-laundering racket that transferred up to BD350 million ($923.6 million).
The ring included 11 managers and employee
Prosecution witnesses will be summoned to court in the case of 16 men accused of being part of a money-laundering ring in Bahrain that transferred up to BD350 million ($923.4 million).
The ring included 11 mana
Saudi Arabia has invested significant resources to tackle anti-money laundering (AML) challenges including the most recent amendments concerning the local regulations, said a senior official.
Speaking at the si
Twelve men have been accused of being part of a money laundering ring that illegally transferred SR400 million ($106.6 million) overseas, a report said.
The suspects are all Indians working in one of Bahrain's leading money ex
British bank Standard Chartered is rushing to reach a settlement within days over charges it hid transactions tied to Iran and is set to resume talks with US regulators on Monday, sources familiar with the situation said.
The global Anti-Money Laundering (AML) software market is expected to see an average annual growth of 9 per cent over the next few years and reach over $690 million in 2015, according to a recent industry report.
The report by the Aite gro
The United Arab Emirates will require those leaving the country to declare large amounts of money from September as part of an effort to improve monitoring of suspicious cash flows, officials said on Sunday.
"The UAE... has put in place a
Dubai has denied a UK newspaper report which stated that Somalian pirates had laundered their ransom money through the banks in the emirate.
British newspaper The Independent had quoted investigators hired by the shipping industry as sayin