Topic: Money laundering

UK, France urged to tighten up corporate liability for money laundering

The Council of Europe has said 14 countries including the UK are failing to comply with international standards for holding companies liable for money laundering.

21 January 2022

Swedbank emails reveal internal deliberations over US money-laundering probe

Recently-released documents appear to show the bank’s chief compliance officer seeking to limit disclosure detailing the bank’s extensive links to clients of the controversial Panama law firm Mossack Fonseca to New York’s financial regulator.

19 January 2022

IBA hits out at UN, OECD and FATF over privilege comments

The International Bar Association has published a statement defending the principle of legal professional privilege from “international attack”.

17 January 2022

Germany files first criminal charges in Wirecard case

German prosecutors have accused an investment fund manager of helping to launder more than €22 million in funds embezzled from collapsed payments company Wirecard.

14 January 2022

MLARS prosecutor joins DOJ’s foreign bribery unit

A prosecutor in the Money Laundering and Asset Recovery Section with prior experience working on foreign corruption cases has joined the DOJ’s FCPA unit.

07 January 2022

EU banking regulator: de-risking is undermining financial crime efforts

The European Banking Authority has warned that EU authorities are losing opportunities to detect suspicious transactions because lenders are too eager to cut ties with risky customers.

06 January 2022

Mishcon fined over anti-money laundering breaches

05 January 2022

Swedbank ex-CEO charged over money laundering scandal

Prosecutors have accused the former head of Swedish lender Swedbank, Birgitte Bonnesen, of downplaying the bank’s anti-money laundering failures.

04 January 2022

ICYMI: A round-up of developments over the holiday season

A Happy New Year from all of us at GIR! During the past two weeks, a San Francisco jury has convicted the founder of blood testing company Theranos of fraud and Denmark has created a new agency for prosecuting complex financial crimes.

04 January 2022

FCA fines HSBC over AML failings

The UK’s financial regulator has fined UK bank HSBC £63.9 million after it found serious weaknesses in the bank’s transaction monitoring systems.

17 December 2021

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