06.19.18

Regulatory Relief on the Horizon for U.S. Compliance Officers?

At the heart of regulatory compliance in the United States is the Office of the Comptroller of the Currency's Bank Secrecy Act (BSA), which has required FI's to establish potent anti-money laundering (AML) programs while setting strict recordkeeping and reporting requirements for national banks, federal savings associations, federal branches, as well agencies of foreign banks in order to detect and prevent various forms of financial crime.



06.19.18

The World's Largest Tax Haven? Guess Who

By now we (should) all know that global trade wars, as well as imperial wars, can be costly.



06.19.18

Corruption Trial Begins in Buffalo Billion Case

A former president of the State University of New York's Polytechnic Institute was alternately portrayed as a hero or a scoundrel at the opening of a corruption trial Monday over upstate construction projects worth hundreds of millions of dollars.



06.19.18

Carlos Uresti Resigns From Texas Senate

The San Antonio lawmaker's resignation comes four months after his conviction on multiple counts of fraud and money laundering.



06.19.18

Korean firm tied to Trump lawyer got U.S. contract despite corruption probe

A South Korean aviation firm that hired President Trump's personal lawyer Michael Cohen failed last year to disclose that it was the subject of a corruption investigation as it won work from the U.S. military, records show.



06.18.18

Judge rebukes Manafort, sends him behind bars

A federal judge revoked Paul Manafort's bail and sent him to jail Friday to await trial, citing new charges that Manafort had tried to influence the testimony of two of the government's witnesses after he had been granted bail.



06.18.18

Wanted: independent regulators for our financial sector

On Thursday, Justice EU Commissioner Vera Jourova raised some important questions about Malta's regulation of its financial services sector.



06.18.18

Vijay Mallya faces fresh money laundering charge sheet, fugitive tag

In more trouble for liquor baron Vijay Mallya, the Enforcement Directorate (ED) is set to soon file a fresh charge sheet against him and his companies on charges of money laundering and allegedly cheating a consortium of nationalised banks to the tune of Rs 6,027 crore, officials said today.



06.18.18

Led by Japan, Major Economies Set to Introduce Unified Cryptocurrency Regulations

International financial authority Financial Action Task Force (FATF) is expected to collaborate with Japan, the second largest cryptocurrency market behind the US, to introduce unified cryptocurrency regulations in the upcoming months.



06.18.18

Wait a minute; solution to our corruption lies with the corrupt

You set a thief to catch a thief. Hence, I would like to propose to the corrupt to join the campaign of eradicating corruption; they are better placed than the rest of us to do that.



06.15.18

Why the Most Compelling Drama at the World Cup Might Be Off the Field

The decision by FIFA, the body the governs international soccer, to award to 2026 World Cup to the combination of the United States, Canada, and Mexico instead of Morocco- a nation widely considered unqualified to host the tournament was a huge relief to many people who love the game.



06.15.18

He bribed doctors with cash and prostitutes. Here's how much time he will spend in prison.

It was brazen case of medical fraud that led to more than 50 convictions.



06.15.18

Marijuana Banking Measure Rejected By Congressional Committee

A powerful congressional committee voted on Wednesday to reject a measure to protect banks that open accounts for marijuana businesses from being punished by federal financial regulators.



06.15.18

The U.K. Moves to Clean Up Laundered Money

Chelsea's soccer team won the United Kingdom's coveted FA Cup in May but its owner, Russian multi-billionaire Roman Abramovich, wasn't on hand to savor the victory.



06.15.18

Kenya can learn a lesson from China's war on corruption

This Friday, a high level Chinese delegation will jet into the country at the invitation of the National Assembly Speaker, Justin Muturi.



06.13.18

Report describes Dubai real estate as money-laundering haven

War profiteers, terror financiers and drug traffickers sanctioned by the U.S. in recent years have used Dubai's real-estate market as a haven for their assets, a new report released Tuesday alleges.



06.13.18

ED Again Questions Chidambaram For Over 6 Hours in Money Laundering Case

Soon after, Chidambaram tweeted, "Another round of questions by ED in Aircel-Maxis case. I remind myself that there is no FIR and no offence is alleged."



06.13.18

Relief may be in reach for bankers fed up with SARs

Banks and credit unions could receive some relief from filing nettlesome reports under the Bank Secrecy Act.



06.13.18

The Sharing Economy Comes To Bank Compliance

The cost and complexity of regulatory compliance remains a complex issue for banks of all sizes.



06.13.18

Anti-corruption bills stalled in state Assembly

As state government weathers its most significant bid-rigging scandal in decades, pieces of legislation that would expand oversight of contracts and provide greater transparency over economic development projects are being kept off the floor by the Assembly leadership.



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