money laundering

Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.

Source: en.wikipedia.org

Changes Coming To House Financial Services Committee Under New Congress
Changes Coming To House Financial Services Committee Under New Congress
November 19, 2018  |  Regulation

Democratic Rep. Maxine Waters reportedly wants the House Financial Services Committee to go in a new direction if she leads it, which is expected from...

READ MORE >
Danske Bank Whistleblower Implicates Major EU Bank, US Lenders
Danske Bank Whistleblower Implicates Major EU Bank, US Lenders
November 19, 2018  |  Security & Fraud

Danske Bank whistleblower Howard Wilkinson, speaking during a public hearing at the Danish parliament Monday (Nov. 19), contended that a major European bank helped to...

READ MORE >
Banks Steer Clear Of X-Border Transfers
Banks Steer Clear Of X-Border Transfers
November 16, 2018  |  International

Amid stricter checks for money laundering, banks are moving away from the international money transfer practice known as correspondent banking. The shift could possibly cause...

READ MORE >
Danske Investigators Contact BoA, JPM
Danske Investigators Contact BoA, JPM
November 16, 2018  |  Banking

Investigators have reportedly contacted Bank of America Corp. and Deutsche Bank AG regarding transactions involving a Danske Bank branch in Estonia at the heart of a...

READ MORE >
Danske Scandal Could Involve US Banks
Danske Scandal Could Involve US Banks
November 14, 2018  |  Banking

A lawyer for the whistleblower in the Danske Bank money laundering scandal warns that investigators should look into whether major Western banks were involved. Stephen...

READ MORE >
Malaysian PM: Goldman Bankers ‘Cheated’ The Country
Malaysian PM: Goldman Bankers ‘Cheated’ The Country
November 14, 2018  |  International

Malaysian Prime Minister Mahathir Mohamad has alleged that Goldman Sachs “cheated” the country regarding a state fund for 1Malaysia Development Bhd (1MDB), and that U.S....

READ MORE >
EU Ups Bank Supervision To Stem Money Laundering
EU Ups Bank Supervision To Stem Money Laundering
November 13, 2018  |  Regulation

European Union governments have reached a preliminary deal to bolster bank supervision in the hopes of preventing money laundering. According to Reuters, the deal, which...

READ MORE >
French Prosecutors Call For UBS To Pay 3.7B Euros For Tax Evasion
French Prosecutors Call For UBS To Pay 3.7B Euros For Tax Evasion
November 08, 2018  |  International

UBS, the Swiss bank, is facing calls from French prosecutors to pay a fine of 3.7 billion euros for what it contends is helping wealthy...

READ MORE >
Department Of Justice Announces Indictments In 1MDB Fund Scheme
Department Of Justice Announces Indictments In 1MDB Fund Scheme
November 01, 2018  |  Security & Fraud

The U.S. Justice Department announced Thursday (November 1) a three-count criminal indictment charging two individuals in a conspiracy to launder billions of dollars embezzled from...

READ MORE >