February 12th, 2019Dealers in precious stones and metals will have to register with the Law Ministry and carry out stricter checks on clients under new laws passed in Parliament yesterday.
Senior Minister of State for Law Edwin Tong said the ministry has streamlined the requirements in the Precious Stones and Precious Metals (Prevention of Money...
January 30th, 2019A Portuguese magistrate is deciding whether there is enough evidence to put a former prime minister and two dozen other once-powerful figures on trial for corruption, money laundering and other crimes.
Magistrate Ivo Rosa on Monday began hearing legal arguments from the public prosecutor and defense attorneys in one of the biggest...
January 25th, 2019The European Commission on Thursday warned Germany about its failure to apply EU rules against money laundering and stepped up action against nine other EU countries as part of a crackdown triggered by several scandals last year.
Germany was sent a letter of formal notice, the first step of the EU legal procedure against states, while...
January 23rd, 2019Brussels is set to tell EU member states to tighten security checks on wealthy investors applying for “golden visas”, warning that the schemes have opened the bloc to money laundering, corruption and organised crime.
The European Commission will on Wednesday make its first recommendations to countries on how to protect...
January 3rd, 2019Guidelines on anti-money laundering for financial institutions dealing with low-risk clients are to be announced after the Lunar New Year, Financial Supervisory Commission Chairman Wellington Koo (顧立雄) said on Monday.
The guidelines, which are to include a reduction in examination frequency, are aimed to facilitate financial...
December 31st, 2018The Hong Kong Monetary Authority (HKMA) said on Friday that it had fined the Hong Kong branch of JPMorgan Chase & Co HK$12.5 million ($1.60 million) and reprimanded it for breaching anti-money laundering and counter-terrorist financing rules.
The regulator said that the firm failed to “establish and maintain effective...
December 27th, 2018Wall Street’s industry funded watchdog fined the U.S. brokerage unit of Morgan Stanley $10 million on Wednesday for compliance failures in the firm’s anti-money laundering program, the regulator said.
The Financial Industry Regulatory Authority (FINRA) said the lapses spanned more than five years, from January 2011 until April...
December 20th, 2018Estonian prosecutors said Wednesday 10 former staffers of Danske Bank's local unit had been detained following preliminary money laundering charges being pressed against Denmark's biggest lender last month.
Investigators in Denmark, the United States, Belgium and Britain have been looking into the activities of Danske's Estonian unit...
November 29th, 2018Denmark’s state prosecutor has filed preliminary charges against Danske Bank for alleged violations of the country’s anti-money laundering act in relation to its Estonian branch.
The country’s biggest lender was placed under investigation in August over concerns that transactions worth billions of Danish crowns might have been...
November 26th, 2018Brazil’s federal police issued 22 arrest warrants Friday as part of a probe into a corruption and money laundering scheme involving construction of the new headquarters of the state oil company in the northeastern city of Salvador.
Police said they had arrested 17 people so far, but details were not immediately available.
The...
