AML News

Latest news related to Anti-Money Laundering.

August 3 2018 Deutsche Bank has uncovered shortcomings in its ability to fully identify clients and the source of their wealth, more than a year after it was fined nearly $700 million (€603 million) for allowing money laundering. In two confidential reviews, dated June 5th and July 9th, Germany’s biggest lender detailed...
August 3 2018 The People’s Bank of China is stepping up monitoring of money laundering activity with increased investigation and punishment, The Paper reported. The central bank issued 6.1 million yuan (US$890,000) in penalties to the Bank of Communications, the Shanghai Pudong Development Bank, Ping An Bank, Galaxy Securities and China Life Insurance...
August 3 2018 Six people were indicted by a grand jury on allegations of running a money-laundering scheme that cost Fort Collins business Blue Ocean Enterprises millions of dollars, according to Larimer County Sheriff's Office investigator Lt. John Feyen. An almost yearlong investigation by the Larimer County Sheriff's Office, the Colorado...
August 2 2018 Nearly one in three estate agents do not even know if they have an anti-money laundering process in place, and just 16% are confident that they fully understand their legal obligations. Furthermore, over one in three in a sample of 100 agents have been visited by the AML...
August 2 2018 An Arleta man was sentenced Wednesday to five years in federal prison for his role in a black-market “hawala” money laundering scheme that transferred about $4.5 million on behalf of the Sinaloa Cartel and its drug trafficking affiliates. Sucha Singh, 54, was also ordered by U.S. District Judge Christina A....
August 1 2018 The number of alleged money laundering reports filed with the Serious Fraud Office (SFO) in the past year has soared to more than five times the level from the previous 12-month period. Figures obtained following a freedom of information (FoI) request show that 112 reports were filed over...