French prosecutors have launched an investigation into possible money laundering by HSBC private banking clients after buying data stolen by a former employee of the bank. Eric de Montgolfier, the prosecutor from Nice in the south of France, revealed yesterday that his team are looking into thousands of accounts for evidence of money laundering, having […]

The National Counterterrorism Center (NCTC) today announced the release of its 2009 counterterrorism calendar. The calendar, popular with a broad spectrum of federal, state, and local first responders; homeland security professionals; policy makers; and counterterrorism experts, is now available via NCTC’s website at www.nctc.gov as both a downloadable PDF and a multimedia website. NCTC has […]

Solicitor’s office searched in fraud investigation – A solicitor’s office was one of six properties searched by police investigating a suspected £9 million mortgage fraud. Four men were arrested in connection with the fraud which was against an unnamed insurance firm . Their occupations are not known. The police said of the fraud: ‘The work […]

OLAF launches investigation into tobacco company 11 Sep 2012 It has been reported that the European Commission’s European Anti-Fraud Office (OLAF) has launched an investigation into Japan Tobacco Inc for alleged breaches of sanctions in respect of Syria. It is alleged that a Swiss subsidiary of the firm sold millions of cartons of cigarettes to […]

US Senate Committee publishes report on alleged money laundering failures by HSBC 11 Sep 2012 The Permanent Subcommittee on Investigations of the US Senate’s Committee on Homeland Security and Governmental Affairs has published (http://www.hsgac.senate.gov/subcommittees/investigations/media/hsbc-exposed-us-finacial-system-to-money-laundering-drug-terrorist-financing-risks?intEmailHistoryId=778390&intEmailListId=133&intEmailId=60099&intExternalSystemId=1) a report concerning HSBC and its US affiliate (HBUS) for alleged anti-money laundering (AML) control failures. To examine the current money […]

Standard Chartered settles US claims over Iranian transactions 11 Sep 2012 The New York State Department of Financial Services (DFS) has announced (http://www.dfs.ny.gov/about/press/pr1208141.htm?intEmailHistoryId=778390&intEmailListId=133&intEmailId=60099&intExternalSystemId=1) that it has reached a settlement with Standard Chartered Bank in relation to allegations that the bank had failed to disclose approximately 60,000 transactions with the Iranian government amounting to at least […]

Turkish Bank (UK) Ltd fined for money laundering failings 11 Sep 2012 The FSA has published (http://www.fsa.gov.uk/library/communication/pr/2012/081.shtml?intEmailHistoryId=778390&intEmailListId=133&intEmailId=60099&intExternalSystemId=1) a Decision Notice (http://www.fsa.gov.uk/static/pubs/final/turkish-bank.pdf) fining Turkish Bank (UK) Ltd (TBUK) £294,000 for breaching the Money Laundering Regulations 2007. The breaches related to TBUK’s corresponding banking arrangements and were considered to be widespread by the FSA. This is the […]

MONEYVAL evaluation report on the Holy See 11 Sep 2012 The Council of Europe’s Committee of experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) has published (https://wcd.coe.int/ViewDoc.jsp?Ref=DC-PR079(2012)&Language=lanEnglish&Ver=original&Site=DC&BackColorInternet=F5CA75&BackColorIntranet=F5CA75&BackColorLogged=A9BACE&intEmailHistoryId=778390&intEmailListId=133&intEmailId=60099&intExternalSystemId=1) its first evaluation report (http://www.coe.int/t/dghl/monitoring/moneyval/Evaluations/round4/MONEYVAL(2012)17_MER_HS_en.pdf) of the Holy See (including Vatican City State). The report evaluates the implementation of international and European […]