Belgium charges UBS with serious and organised tax evasion
A Belgian judge has charges Swiss bank UBS with money laundering and serious and organised tax evasion, according to media reports.
AML
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Guernsey directors fined for anti-money laundering failings
Four executive directors of Guernsey financial services and former QROPS provider Confiance Limited have been fined, and in three cases also banned from performing key functions for five years.
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Gibraltar accepted by European anti-money laundering body
After prolonged negotiations, Gibraltar has been accepted for evaluation by the Council of Europe’s anti-money laundering monitoring body, Moneyval.
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UK at risk over Chinese money laundering
UK authorities have been warned that attempts to establish London as a hub for Chinese currency dealing could be scuppered by the increased use of the renminbi by money launderers.
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fbme loses cyprus court challenge
The Supreme Court of Cyprus has rejected an application by FBME bank that sought to suspend the sale of the branch’s operations on the island, as reports say EY investigators are continuing to look at money laundering claims made last month by the US Treasury Department.
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250bn money laundering storm due at decades end
Developments in financial crime technology could uncover a £250bn "storm" of money laundering fines for "countless" banks around the world, says new research.
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Fin holding cos under MAS purview
Singapores regulatory authorities are working on norms that would bring financial holding companies under its ambit as it seeks to enhance the regulatory framework for combating money laundering and terrorism financing.
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intl money laundering gang jailed
Four men who created a tangled web of financial transactions across the globe in an attempt to launder $15.5m stolen 11 years ago from a German bank have been jailed.
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Banking sector responsible for rise in suspected Swiss money-laundering
Suspected money-laundering cases rose almost 30% in Switzerland in 2010, most being banking related.