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Latest news related to Anti-Money Laundering.

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...
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today designated Lebanese-Colombian nationals Jorge Fadlallah Cheaitelly (“Cheaitelly”) and Mohamad Zouheir El Khansa (“El Khansa”) as Specially Designated Narcotics Traffickers (SDNTs) due to their significant role in international money laundering activities involving drug trafficking proceeds.  OFAC also designated...
With weighty regulation coming to bear this year, specifically around anti-money laundering (AML), financial institutions will address compliance by deploying new generation compliance management technology, according to analysts. As financial institutions prepare for the demands of the new year, industry analysts are predicting that Bank Secrecy Act (BSA) and anti-money...