AML News

Latest news related to Anti-Money Laundering.

December 7, 2019 A fund in which the Vatican’s Secretariat of State has invested tens of millions of euros has links to two Swiss banks investigated or implicated in bribery and money laundering scandals involving more than one billion dollars. The fund is under investigation by Vatican authorities. The fund, Centurion...
December 7 2019 Frankfurt prosecutors have dropped an investigation into two Deutsche Bank employees accused of aiding tax evasion through a former Virgin Islands unit, although they have fined the lender for compliance lapses. In a two-day raid a year ago, 170 police officers searched Deutsche Bank's headquarters in Frankfurt, hitting...
December 7 2019 Attorney General Xavier Becerra of California has reached a $3.15 m settlement against the Hawaiian Gardens Casino. The second largest card room in the state was found to have misled gaming regulators and infringed the Bank Secrecy Act, a federal law designed to fight money laundering. The casino...
December 5, 2019 Today the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) took action against Evil Corp, the Russia-based cybercriminal organization responsible for the development and distribution of the Dridex malware.  Evil Corp has used the Dridex malware to infect computers and harvest login credentials from hundreds of...
December 6 2019 Telefonaktiebolaget LM Ericsson (Ericsson or the Company), a multinational telecommunications company headquartered in Stockholm, Sweden, has agreed to pay total penalties of more than $1 billion to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) arising out of the Company’s scheme to...
December 5 2019 The Reserve Bank of India (RBI) has, by an order dated December 05, 2019, imposed a monetary penalty of ₹25 lakh on Andhra Bank for non-compliance with certain provisions of directions issued by RBI on Know Your Customer (KYC) Norms/ Anti Money Laundering (AML) Standards and Opening...