by Argus | Anti Money Laundering, Fund Management Company, News, Regulatory Compliance
Ex-Goldman Banker charged in 1MDB fund scandal Goldman Sachs is being probed by US Justice Department for its role as underwriter and arranger for some $6.5 billion worth of 1Malaysia Development Bhd (1MDB) bond offerings, in the governmental fund scandal shaking...
by Argus | Anti Money Laundering, News, Payment Services Bill, Regulatory Compliance
Crypto regulation: FinCEN Fines Virtual Currency Exchanger The Financial Crimes Enforcement Network (FinCEN) announced last week that it has fined Eric Powers, the operator of a peer-to-peer exchanger of convertible virtual currency, for willfully violating the Bank...
by Argus | Anti Money Laundering, News, Regulatory Compliance
Standard Chartered fined $1.1bn for money-laundering and sanctions breaches The British bank has agreed to pay $947m to American authorities over allegations that it violated sanctions imposed against Burma, Zimbabwe, Cuba, Soudan, Syria and Iran. Separately, it was...
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...
