by Argus | Anti Money Laundering, News, Regulatory Compliance
Deutsche Bank’s US Unit involved in money-laundering case Compliance workers for Deutsche Bank AG flagged transaction amounting to $150 billion that their U.S. subsidiary handled for an Estonian unit of Danske Bank A/S. As shown by internal documents, court records...
by Argus | Anti Money Laundering, Financial Institutions, News, Regulatory Compliance
New Zealand’s Financial Markets Authority issues AML/CFT monitoring report New Zealand’s FMA (Financial Markets Authority) has published an AML/CFT monitoring report setting out the areas requiring further attention by the management and boards of reporting entities....
by Argus | Anti Money Laundering, Compliance, Tax
EU updates tax haven blacklist, adds UAE, Bermuda The European Union has updated its list of non-cooperative jurisdictions for tax purposes ( tax haven ). The new additions include Bermuda and the UAE. The Council of EU stated that these jurisdictions have failed in...
by Argus | Anti Money Laundering, News, Payment Services Bill, Regulatory Compliance
Can remittance companies licensed under the Money-changing and Remittance Businesses Act (MCRBA) lend money? Remittance companies are currently licensed under the Money-changing and Remittance Businesses Act (MCRBA). The Money-changing and Remittance Businesses Act...
by Argus | Anti Money Laundering, News, Regulatory Compliance, Tax
France fines UBS bank record S$5.6 billion in tax fraud case A Paris court on Wednesday fined Swiss banking giant UBS 3.7 billion euros (S$5.67 billion) for encouraging customers to commit tax fraud, a record in France where public opinion has grown vocal for...
by Argus | Anti Money Laundering, Compliance, News, Regulatory Compliance
ANTI MONEY LAUNDERING COUNTRY BLACKLIST PUBLISHED BY EU The European Commission adopted a list of countries that has weak anti money laundering and terrorist financing regimes, and urged banks to increase customer due diligence (CDD) checks on customers and firms from...
