Home AML AML News Page 515

AML News

Latest news related to Anti-Money Laundering.

Aid groups are lobbying the US treasury to provide assurances to a community bank that it will not be prosecuted for resuming remittance services to Somalia, where 250,000 people are still affected by famine. Sunrise Community Banks in the state of Minnesota last week announced it would stop processing remittances...
In reaction to the report of the Council of Europe’s Greco (Group of States against Corruption), AD – The Green Party said that it was unacceptable that the Maltese Government was proposing that party and non-party members would be distinguished from each other as regards donations to parties, AD...
Ghana is said to be lagging behind in its fight against money laundering and the country is attracting negative rating from global and regional agencies responsible for setting standards in Anti-Money Laundering and the Combating of the Financing of Terrorism (AML/CFT) issues, the governor of the Bank of Ghana...
With the government tracing black money flowing even into small savings schemes, post offices offering these plans are also coming under the lens of probe agencies. National Savings Institute, which is headquartered in the city, markets these schemes through post offices. It has been designated as the inspection agency to...
In Nigeria, almost everything is paid for in cash. In supermarkets, cheques are hardly accepted, and when applied, delivery of goods and services is only completed when the beneficiary gets value from the bank. So, Nigeria has remained a cash-based economy, despite the growth in the country’s banking sector and billions...
In worship services, Rabbi Eliahu Ben Haim used to lecture on the need for his congregants to be upstanding and moral. At the same time, he was secretly laundering at least $1.5 million through various charities in an elaborate international underground banking system and keeping a large cut of the...