Tweet The Financial Crimes Enforcement Network has issued an advisory to U.S. financial institutions to take special precaution when dealing with funds from Tunisian politically exposed persons because of the increased money laundering risk if those funds are from the proceeds of crime (e.g., misappropriated or diverted State assets, proceeds of bribery, public corruption or […]
Tweet HSBC Bank USA, N.A. has been ordered to improve its compliance with U.S. anti-money laundering laws. Under a Consent Order entered into with the U.S. Office of the Comptroller of the Currency (OCC) and the Federal Reserve, HSBC must correct anti-money laundering problems identified by the OCC and bring itself into compliance with the Bank Secrecy Act (BSA) […]
Tweet Dirty money entering the U.S. from foreign nationals The Senate Committee on Homeland Security & Governmental Affairs released a special money laundering report today that describes four case studies of foreign politically exposed persons (“PEP“) who laundered money in the U.S. without detection. Two of the case histories have a Canadian connection. The 330-page report, […]
Tweet Government official had assets worth 57 times his salary The Collegial Bench of the Court of First Instance of Macau today sentenced a whole family for money laundering in connection with bribes over a government infrastructure project. The family members are related to Macau’s former Secretary for Transport and Public Works, Ao Man Long. […]