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Latest news related to Anti-Money Laundering.

May 14, 2019  Financial regulators in eight Nordic and Baltic countries have agreed to share more information about money-laundering threats in an effort to fight financial crimes. Regulators said they plan to develop a coordinated process for exchanging information across Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. A formal...
May 15 2019 With billions of dollars in dirty money being laundered through Toronto real estate each year, realtors are questioning why Ontario hasn't taken action to implement the simple reform that's chased criminals out of overheated property markets around the world: requiring the real owners of property to identify...
May 3, 2019 Following a nearly two-year international investigation involving U.S. law enforcement and authorities in Germany and the Netherlands, federal prosecutors have charged three German nationals with being the administrators of Wall Street Market (WSM), which was one of the world’s largest dark web marketplaces that allowed vendors to...
May 7 2019 The financial services regulatory consultancy, fscom, says the value of fines imposed on businesses rose to £2.3m last year. The average size of fine went up from £1,310 in 2016/17 to £3,450 last year. Recent Home Office figures suggest that as much as £90bn is laundered through the...
May 5 2019 The banking industry will strengthen efforts to prevent money laundering in preparation for the planned review of industry efforts by an international organization in the autumn. Next month, MUFG Bank, a core unit of Mitsubishi UFJ Financial Group Inc., plans to terminate overseas remittances made at the counter...
April 28 2019 The Central Economic Intelligence Bureau (CEIB) is of the view that use of the stringent Prevention of Money Laundering Act could be considered to curb and deter fraudulent input credit tax, claimed by companies generating fake invoices of Goods and Services Tax. A proposal was recently floated by...