Daily News Brief
June 29th, 2016

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Is Bitcoin Money? Florida Judge to Decide

WASHINGTON — Whether bitcoin is actual currency is at the forefront of a first-of-its-kind money-laundering case in Florida to be decided Wednesday. In February 2014, Michel Espinoza was arrested in a Miami Beach motel for agreeing to sell $30,000 worth of bitcoin to an undercover police officer he had met on an exchange site called LocalBitcoins.com.

06.29.16

Assad's uncle under investigation in France: source

A French judge has placed an uncle of Syrian President Bashar al-Assad under formal investigation on suspicion of tax fraud and money-laundering, a source close to the case said on Tuesday.

06.29.16

Former UKIP MEP on trial for alleged money laundering and misconduct

A former UKIP MEP is being tried on allegations of money laundering and misconduct in public office. Nikki Sinclaire, 47, who represented the West Midlands region until 2014, allegedly cheated on travel expenses between October 2009 and July 2010.

06.29.16

Exclusive: U.S. to upgrade Thailand in annual human trafficking report - sources

The United States has decided to remove Thailand from its list of worst human trafficking offenders, officials said, a move that could help smooth relations with Bangkok’s military-run government.

06.29.16

Nigerian ex-Minister charged over $17.4m money laundering

Femi Fani-Kayode, a former Aviation minister in Nigeria has been hauled before a Lagos Federal High Court for allegedly laundering some N49 million (over ($17 million).

06.29.16

FINRA Appoints New President - CEO

The Financial Industry Regulatory Authority (FINRA) reports that its board has named Robert W. Cook as its president and chief executive officer, “effective the second half of 2016.”

06.28.16

Body eases Iran restrictions, keeps blacklist

The world’s anti-money laundering body has suspended some of its restrictions against Iran, citing the country’s commitment to legitimate business.

06.28.16

Bharara contends corruption in NY "executive branches"

ALBANY -- U.S. Attorney Preet Bharara said "that there’s corruption, we believe, in the executive branches" in New York as he continues to probe state and New York City governments.

06.28.16

Liberia Assures Int’l Community of Commitment to Fighting Money Laundering, Financing of Terrorism

In the wake of the recent downgrading of Liberia’s status on Anti-money laundering and combating financing of terrorism (AML/CFT) regime last May by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), the Executive Governor of the Central Bank of Liberia (CBL), Milton A. Weeks, led a four-man delegation arrived in Busan, South Korea, last week to attend the 2016 Financial Action Task Force (FATF) Plenary Meetings from June 18-24.

06.28.16

GCC banks strengthen standard compliance as part of de-risking

Correspondent banking is the back bone of the global financial system for facilitating the financial transactions between one country to another country. The banks across the world have to use services of other banks which acts as a correspondent bank to the originating bank to support their payment requirements.

06.28.16

Trending Topics in AML

As a leading source of news on compliance issues, BSA News Now is published on a daily basis and distributed to over 10,000 readers from fifty four countries. Our editors are constantly monitoring what’s trending on AML topics and the following areas stand out during this month: ...

06.27.16

Britain shocks world: breaks with European Union, British leader steps down

German financial watchdog Bafin last year imposed a fine of 40 million euros ($44 million) on Deutsche-Bank (DBKGn.DE) for flaws in its systems designed to prevent money-laundering, a person close to the matter said.

06.27.16

Bafin fines Deutsche Bank for anti-money laundering flaws: source

German financial watchdog Bafin last year imposed a fine of 40 million euros ($44 million) on Deutsche-Bank (DBKGn.DE) for flaws in its systems designed to prevent money-laundering, a person close to the matter said.

06.27.16
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