Covered Institutions

The U.S. Department of Justice has closed its anti-money laundering (AML) investigation into Swedbank AG without bringing an enforcement action, according to the Swiss lender. 

Lebanese prosecutors have charged former central bank governor Riad Salameh with alleged embezzlement of $44.8 million, nearly ten months after a court decision to refer him to trial, according to OCCRP. 

The Trump administration designated three Middle Eastern branches of the Muslim Brotherhood as terrorist organizations, claiming the groups contribute to regional instability and violence. 

California’s Department of Financial Protection and Innovation (DFPI) fined crypto lending platform Nexo Capital Inc. $500,000, alleging the company made crypto-backed consumer and commercial loans to Californians without the required state license. 

CaixaBank has been hit with several fines totaling more than €30 million by Spain’s anti-money laundering watchdog, Sepblac, over a legacy real-estate transaction.

The Dubai Financial Services Authority (DFSA) has banned the use of crypto privacy tokens in the special economic zone the body oversees, citing anti-money laundering and sanctions compliance risks, CoinDesk reported. 

European Union foreign policy chief Kaja Kallas is preparing to push for new sanctions on Iran following a security crackdown that has “reportedly claimed hundreds of lives” since protests began nearly two weeks ago, Euronews reported Monday. 

Former Panamanian President Ricardo Martinelli is on trial over allegations he laundered millions of dollars tied to bribes paid by Brazilian construction giant Odebrecht, a case that plugs Panama into the regionwide “Car Wash” corruption scandal that has toppled political figures across Latin America, according to AFP.

India’s Financial Intelligence Unit (FIU) has rolled out stricter identity verification requirements for cryptocurrency exchanges, aiming to curb money laundering and terrorist financing, CoinDesk reported, citing Press Trust of India.

The U.S. Treasury Department on Thursday launched a set of initiatives to investigate what it called “rampant government benefits fraud” in Minnesota, including the imposition of new reporting requirements for financial institutions.