Money laundering
If banks can’t stop money laundering, it is time for regulators to do more
Firms spend around £28.7bn a year on anti-money laundering compliance but there is little evidence that things are getting better
FCA warns firms on Afghanistan terror financing and money laundering risks
The last US and UK troops have pulled out of Afghanistan
2 min read
EU watchdog preparing to issue guidance on anti-money laundering rules
The EBA's proposal kicks off a public consultation period that ends in early November
3 min read
Danske Bank CEO quits amid ABN’s €480m settlement in Dutch money laundering probe
Danske Bank CEO named in probe into his former bank
2 min read
City lawyers: FCA’s action against NatWest ‘is like pressing the nuclear button’
‘All we know is that the Financial Conduct Authority has finally bared its teeth’
4 min read
FCA launches criminal proceedings against NatWest over money laundering failures
NatWest will appear at Westminster Magistrates’ Court on 14 April
2 min read
Credit Suisse faces anti-money laundering charges linked to Bulgarian mafia
The bank has been accused of failing to take all the measures that were reasonable to prevent the laundering of assets belonging to and under control of the criminal organisation
3 min read
UBS chief executive Ralph Hamers drawn into ING anti-money laundering probe
A Dutch court has ordered the public prosecutor to open an investigation into Hamers' role in the bank's failure to comply with anti-money laundering rules
1 min read
Treasury Committee writes to FCA, HMRC over ‘deeply troubling’ FinCen files
Conservative MP Mel Stride asked what further actions the regulator and the ministers would take
3 min read
HSBC and Deutsche get bad headlines, but regulators will probably shrug
These embarrassing leaks highlight the inadequacy of the response by banks and governments to this flood of dirty money. Whether it provides much fresh evidence of the failings of individual banks is much less clear
3 min read
Bank regulators clarify diligence rules for politically exposed persons
The notice comes as banking regulators aim to address concerns from the banking industry that compliance with Bank Secrecy Act due-diligence requirements has become overly burdensome and costly
2 min read
HSBC defends cooperation with US prosecutors, denies Huawei entrapment
HSBC said it wasn’t involved in the DOJ’s decision to investigate Huawei or to arrest Huawei finance chief Meng Wanzhou and doesn’t have any hostility to the company
Revealed: Conservatives’ surge in donations from Russian-born benefactors
The donations spike came despite a pledge from the former Conservative Prime Minister Theresa May to distance the Tories from Russian money
London’s finance sector under scrutiny over damning Russia report
The UK’s National Crime Agency estimates more than £100bn in illicit funds impacts the economy each year
Watchdog slaps Commerzbank with £38m fine over money laundering failures
Commerzbank failed to conduct 'timely periodic due diligence on its clients' and to address 'long-standing weaknesses' in an automated money laundering prevention tool
