A summary of two reports on Cyprus’s track record in combating money laundering doesn’t reflect the main findings of the reports and only gives a description of perceived weaknesses, the Central Bank of Cyprus said.
Cyprus’s attempts to stop money laundering, required as part of a 10 billion-euro ($12.9 billion) international rescue, have “systemic deficiencies,” according to a report by Deloitte Financial Advisory Srl.
U.S. Senator Elizabeth Warren has questioned three more federal agencies’ enforcement practices by asking if they’ve studied the costs of favoring settlements with big financial firms over taking them to trial.
Every month, Elliott Klug or one of his business partners walks into the Colorado Revenue Department with a messenger bag holding thousands of dollars in cash and watches as state employees start counting.