Home AML AML News Page 522

AML News

Latest news related to Anti-Money Laundering.

In the biggest ever disclosure of black money stashed abroad, a Delhi-based businessman has admitted to an undisclosed income of Rs 73 crore to the Income Tax department. He also gave details of secret lockers held in banks in Switzerland, Singapore and the US. The I-T department suspects a multi-layered...
Pakistan has decided to amend existing laws to combat financing of terrorism after an international anti-terrorism financing watchdog highlighted that despite ‘observing’ violations, anti-money laundering laws (AML) were not being enforced. The decision was taken on Friday during a meeting, chaired by Finance Minister Dr Abdul Hafeez Shaikh, held to...
For financial institutions worldwide, the recent death of North Korean leader Kim Jong II raises new concerns about money-laundering and transactions involving the movement of sanctioned goods. Paul Buelens, a Belgium-based fraud expert for global compliance and payments solutions provider EastNets, says institutions are closely watching political developments in China,...
A Dover man pleaded guilty in federal court in Boston yesterday for his role in a scheme to launder drug money that allegedly involved a prominent criminal defense lawyer. ... According to court documents, one of George’s former clients, Ronald Dardinski, told federal agents that the lawyer offered to launder money...
The days of hiding away your assets in a secret Swiss bank account are over. And you don't have to be a deposed dictator to be worried. U.S. authorities are hunting down wealthy American tax cheats all over the world, using a spate of new tactics aimed at closing...
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...