Topic: Money laundering

Frankfurt prosecutors raid Deutsche Bank

Prosecutors in Frankfurt raided Deutsche Bank’s headquarters in the morning of 9 June, in connection with an investigation into securities transactions carried out by the bank, according to reports.

09 June 2015

Deutsche Bank investigating US$6bn of suspect transactions

Deutsche Bank is investigating concerns that it may have laundered up to US$6 billion on behalf of Russian clients between 2011 and 2015, according to Bloomberg. The German bank has alerted the UK’s Financial Conduct Authority, the European Central Bank and Germany’s BaFin.

08 June 2015

DoJ moves to block release of HSBC monitor report

The US Department of Justice (DoJ) wants to keep confidential the contents of a monitor report into HSBC’s anti-money laundering and sanctions controls, because making it public would allow criminals to exploit the UK bank’s weaknesses, the authority said in a filing on 1 June.

08 June 2015

HSBC settles Swiss money laundering probe for SFr40m

Geneva's public prosecutor has dropped an investigation of HSBC after the bank agreed to pay 40 million Swiss francs (£28 million) to settle the case without admitting guilt. The bank said in a statement that the payment is to compensate Swiss authorities for its organisational failings in the past.

04 June 2015

US Treasury "destroyed" Banca Privada d'Andorra

Lawyers representing former non-executive chairs of Banca Privada d'Andorra have told the US Treasury that the agency "destroyed" the bank by accusing it of money laundering.

07 May 2015

Spain to create compliance defence

Amendments to Spain’s criminal code that enter into force on 1 July will introduce a compliance defence that could help companies avoid corporate criminal liability.

29 April 2015

Spain launches Banco de Madrid AML investigation

A Spanish investigating judge has opened a money-laundering probe into Banco de Madrid, the local unit of Andorran bank Banca Privada d’Andorra (BPA).

29 April 2015

Dilma Rousseff party treasurer charged

Federal prosecutors in the Brazilian city of Curitiba have charged João Vaccari Neto, a former treasurer of Brazil's ruling Workers' Party, with money-laundering offences linked to his role in an alleged corruption scheme at Petrobras, according to a statement sent to reporters.

28 April 2015

Former HSBC deputy monitor joins Exiger

The former chief of staff at the Manhattan District Attorney’s Office, Jeff Schlanger, has joined HSBC monitor Michael Cherkasky at risk and compliance firm Exiger.

20 April 2015

Caldwell promises greater transparency

The US Department of Justice (DoJ) will in the future provide a more detailed explanation of the factors influencing settlements with companies, criminal division head Leslie Caldwell said.

20 April 2015

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