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Deutsche Bank has discovered serious failings in its anti-money laundering and sanctions controls that allowed cheques and high-value electronic payments to be processed without proper screening.
It appeared to be the coup de grace of a Canadian dirty money probe into real estate: a sprawling island manor off the coast of Vancouver that the government said was linked directly to an alleged criminal conspiracy at a state-run Indian bank.
Mexico’s financial crimes unit chief is seeking money laundering charges against a total of 25 firms and people allegedly involved in sending food to a government-aid program in Venezuela.
Money transfer company MoneyGram International Inc is struggling to finalize a US$663m loan as its financial performance wilts under fierce competition following a US$125m US government fine last November for poor money-laundering controls, sources said.
Senate Democrats are moving to tighten the screws on Deutsche Bank over the firm’s dealings with the Trump and Kushner organizations.
An online payment provider which last month settled US charges that it assisted fraudsters was a longstanding client of Wirecard, underlining concern about anti-money laundering procedures at the controversial German payments group.
How grimly galling, as Donald Trump ostentatiously marks today’s 75th anniversary of one of the world’s biggest battles, that he is so ready to risk starting another one of potentially greater magnitude. What could possibly be that dangerous, you might ask.
Philip Morris International Inc. (PMI) (PM) today renewed its call for continued action against illicit tobacco trade following the release of a new report produced by KPMG, which provides a stark reminder of the negative challenges and financial costs associated with illicit trade.
The European Commission is reviewing past money-laundering cases at EU banks to assess what went wrong and decide possible tweaks to rules, an EU official said, citing Deutsche Bank and Societe General as among the screened lenders.
Tens of thousands of people are expected to take to the streets of Hong Kong on Sunday in a bid to block changes to the Chinese-ruled city’s extradition laws, which could pave the way for fugitives wanted by mainland China to be sent across the border for trial for the first time.