Global Anti-Money Laundering Survey 2014, KPMG KPMG launched its online survey in November 2013. The survey was distributed to AML and compliance professionals in the top 1,000 global banks, according to the 2013 edition of The Banker Magazine, as well as to KPMG’s AML contacts in over 40 countries. The overarching aims of this year’s…
U.S. probes Citi over compliance with money laundering laws (Reuters) – A federal grand jury is probing Citigroup Inc, including its Banamex USA affiliate, over compliance with the U.S. Bank Secrecy Act and regulations on money laundering, the company said. In an annual filing on Monday with the U.S. Securities and Exchange Commission, the company…
Canada’s FINTRAC Imposes Fine on Questrade for Serious AML Breaches Canada’s financial watchdog that supervises money laundering and terrorist financing has issued details of violations committed by a Canadian regulated broker dealer. Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), a government organization that reports to Canada’s ministry of finance, has found Questrade, a…
HSBC is paying $2 billion, or 5 weeks’ worth of its profit, to avoid criminal charges in drug cartel laundering case The Justice Department agreed to suspend criminal charges against the world’s largest bank and its US subsidiary for five years if the bank agreed to pay the penalty. US regulators continue to find weaknesses…
Banks to face US Justice Department action against money laundering: Report /Reuters, Jan. 10, 2014/ – The US Justice Department plans additional enforcement actions against banks that do not have enough safeguards against money laundering, the acting head of the department’s criminal division said in an interview to the Wall Street Journal. [Read More…] A…