Midweek Roundup: China Tightens AML/CTF Controls, London's Big Banks to Start Brexit Moves in February, and More
Banks in China will be required to report all cross-border transfers of $28,800 or more and all domestic transactions above $7,200 from July under new anti-money laundering and counterterrorist financing rules, Bloomberg reported. More Chinese customers seeking to convert yuan into foreign currencies must first confirm compliance with money laundering, tax evasion and shadow banking restrictions under new regulatory rules in effect from January, Bloomberg said. More Taiwan plans to create a new anti-money laundering offence ahead of the island's 2018 financial crime risk assessment to prevent the loss of correspondent banking relationships, CNA reported in Focus Taiwan. More American...
Midweek Roundup: Global Hackers Target Lenders through Regulators, Western Union Sued for AML Failures, and More
U.S. and U.K. banks consider quantifying regulatory risk posed by President Donald Trump, nonprofit accuses banking regulators of opacity, and more, in the midweek roundup.
Midweek Roundup: SWIFT Confirms New Cyberattacks, European Lender Targeted by Hong Kong Phishing Scam, and More
New Zealand publish plans to extend AML/CTF obligations to lawyers and accountants, European leaders support extension of sanctions against Russia, and more, in the midweek roundup.
Midweek Roundup: Former Chair of Mega Bank Charged with Money Laundering, Finra Fines Credit Suisse, and More
The ex-chairman of Taiwan's Mega International Commercial Bank allegedly moved $7 million in illicit funds through Hong Kong, Russia blames foreign spies for cyberattacks on country's banks, and more, in the midweek roundup.
Midweek Roundup: Spain Fines Banco Santander, Trump Warns Cuba of Sanctions Reversal, and More
Spanish officials fined Santander Bank €1 million for "serious" AML deficiencies, the U.K. is unlikely to remain in the European Union's single market after exiting the economic bloc, and more, in the midweek roundup.
Midweek Roundup: US Regulators Consider New Restrictions on Banks Cited for Misconduct, Kansas Turkey Firm Investigated for Sanctions Violations, and More
U.S. officials may ease trade and banking restrictions against Iran, Philippine bankers are under U.S. investigation for allegedly laundering as much as $81 million siphoned from Bangladesh Bank, and more, in the midweek roundup.
Midweek Roundup: US Lawmakers Renew Iran Sanctions, Tesco Bank Ignored Vulnerabilities to Online Attacks, and More
The European Union imposed further sanctions on Syria, a revised peace agreement between Colombian officials and FARC separatists requires the rebels to disclose their assets, and more, in the midweek roundup.
Midweek Roundup: Tesco Bank Accounts Hacked and Robbed, Global Nuclear Accord in Doubt, and More
Bank of China plans compliance upgrades following New York's enforcement action against competitor, Iran finalizes first contract with Western energy firm, and more, in the midweek roundup.
Midweek Roundup: OCC Admits Data Breach, Auditors Pressured to Alter Findings, and More
One in four auditors worldwide say they have been pressured by corporate clients to alter the results of their findings, Hong Kong received nearly 60,000 suspicious transaction reports in the first nine months of 2016, and more, in the midweek roundup.
Midweek Roundup: US Officials Launch Broad Review of Bank Sales Practices, UK Banks Set to Relocate to Europe, and More
Several small banks in the U.K. are planning to relocate their operations to the EU by Christmas, London's lead over New York as the world's top financial center has narrowed significantly ahead of the U.K.'s planned departure from the EU, and more, in the midweek roundup.