Treasury Seeks ‘Gatekeeper’ Role in AML Penalties
The Trump administration is moving to give the U.S. Treasury Department’s financial intelligence unit a decisive say over how banks are punished for anti–money-laundering (AML) failures, according to new reporting by The Wall Street Journal.
Argentine Police Raid Football Association and Dozens of Clubs in Dirty-Money Probe
Federal police raided the headquarters of the Argentine Football Association (AFA) and more than 30 soccer clubs as part of an investigation into alleged money laundering involving a key sponsor of the game, CNN said.
Mexico Ex-Governor Duarte Expected to Face Money Laundering Charges
Mexican federal authorities have taken former Chihuahua governor César Duarte back into custody, preparing to charge him with laundering public funds allegedly diverted while he was in office, according to the Associated Press.
Israel’s Elbit Systems Suspended by NATO Agency Amid Corruption Probe
Israel’s largest defense company, Elbit Systems, has been suspended by NATO’s procurement arm and barred from bidding for work amid a widening corruption investigation into alleged bribery around military contracts.
U.S. Targets Alleged Financial Network Tied to Colombian Mercenaries in Sudan
The United States has imposed sanctions on four individuals and four companies it says helped recruit, pay and deploy Colombian mercenaries to fight for Sudan’s Rapid Support Forces (RSF).
UK to Take on Dirty Money with AI, Facilitator Crackdown
The UK government is taking aim at corrupt bankers, lawyers, and accountants and deploying new tech tools to identify dirty money as part of a new strategy to root out tens of billions in illicit funds entering the country each year.
In U.S. Migrant Crackdown, a Renewed Focus on Cross-Border Remittances
The United States is tightening its oversight of the tens of billions of dollars resident and undocumented migrants send home each year through Western Union, MoneyGram, and other money services businesses (MSBs), according to a recent U.S. Treasury Department warning.
Standard Chartered Settles £1.5bn Lawsuit Over Sanctions Liability
Standard Chartered has settled a £1.5-billion investor lawsuit in London that alleged the bank downplayed the scale of its Iran sanctions breaches and misled shareholders about its compliance controls, the Financial Times said.
Mexico Freezes Funds of Miss Universe Co-Owner in Organized-Crime Probe
Mexico’s anti-money laundering unit has frozen the bank accounts of Raúl Rocha Cantú, the Mexican co-owner of the Miss Universe Organization, as authorities investigate alleged links to drug, fuel and arms trafficking, the Associated Press reported.
Santander to Pay €22.5 Million to Settle French Tax Fraud Case
Spanish lender Santander has agreed to pay €22.5 million ($26.18 million) to settle a long-running tax fraud case in France, bringing to a close an investigation that began more than a decade ago, according to Reuters.