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Fed orders Citi to improve money laundering checksThe Federal Reserve has ordered Citigroup to better police for the risk of money laundering, part of a broad US regulatory crackdown on the potential for illicit money flows. The Fed told Citigr More… |
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HSBC to pay record $1.9 billion fine in USHSBC has agreed to pay a record $1.92 billion fine to settle a multi-year probe by US prosecutors, who accused Europe's biggest bank of failing to enforce rules designed to prevent the laundering of criminal cash. The US Justi More… |
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HSBC could pay $1.8bn money laundering fineHSBC Holdings might pay a fine of $1.8 billion as part of a settlement with US law-enforcement agencies over money-laundering lapses, according to several people familiar with the matter. The se More… |
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HSBC faces $1.5bn US fine blowA US fine for anti-money laundering rule breaches could cost HSBC significantly more than $1.5 billion and is likely to lead to criminal charges, said the Europe's biggest bank. HSBC said the US investigation had damaged the b More… |
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StanChart row: fact or fiction?It was in October 2006 that a senior executive at Standard Chartered in New York pressed the alarm bell over the bank's dealings with Iranian customers. Realizing the bank was being too slow More… |
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False records issue 'key to StanChart case'A New York state case against Standard Chartered is more about whether the bank carried out an old-fashioned cover-up using allegedly false records and less about the role the bank played in the alleged money-laundering of fund More… |
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Dubai hosts anti-money laundering sessionDubai Judicial Institute (DJI) is organising an anti-money laundering (AML) training session for senior Pakistani government officials, under the supervision of leading professionals and experts from the UAE, US and Pakistan. A leading cen More… |
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Dubai hosts anti-money laundering sessionDubai Judicial Institute (DJI) is organising an anti-money laundering (AML) training session for senior Pakistani government officials, under the supervision of leading professionals and experts from the UAE, US and Pakistan. A leading cen More… |
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Saudi approves new anti-money laundering lawSaudi Arabia's cabniet yesterday approved a new law for combating money laundering, which will also help fight funding of terrorism and terror organizations, a report said. The Cabinet meeting was chaired by Custodian of the Two Holy Mosqu More… |
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EastNets software wins innovation awardEastNets, a leading global provider of compliance and payments solutions, has received the 2012 Kinetic Process Innovation Award for excellence in the banking technology category. Now in its 16th year, the awards programme recognizes excel More… |
