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AML

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June 14 2019 Europe’s Baltic states are at risk from further Russian money laundering, a top European police official said after several big banks were hit by scandals centered on the region. Pedro Felicio, who is responsible for fighting money laundering at European police agency Europol, told Reuters that “huge inflows...
June 13 2019 Latvia is preparing to oust its main financial regulator after passing an anti-money laundering reform on Thursday following months of intense international pressure. The new law paves the way for Latvian authorities to remove Peter Putnins from his role as chairman of the country’s main bank regulator, the...
June 10 2019 A bipartisan group of U.S. senators on Monday announced they were introducing a bill to toughen U.S. laws requiring shell companies to disclose their true owners' identity. Two Republicans on the Senate Banking Committee, Tom Cotton and Mike Rounds, and Democratic committee members Mark Warner and Doug Jones...
June 11 2019 Deutsche Bank on Monday acknowledged a lapse in its money laundering controls, underlining the bank’s continuing struggle to move beyond a series of scandals that have helped push its stock price to a record low. An internal audit uncovered deficiencies in the way the bank processed checks on...
June 9 2019 A terrorist from a South Asian country who unsuccessfully sought asylum in Switzerland, a man trying to launder money through a woman he befriended on popular dating app Tinder and a huge sum of money collected through a romance scam -- the Swiss authorities seem to be...
June 4 2019 Kenya has fired a direct shot at the nation’s endemic corruption: by issuing a new generation of banknotes. In a surprise move, the government announced the 1,000 shillings ($10) note will be discontinued by October 1 in a bid to fight corruption, counterfeit, and money laundering. Central bank...