Money Laundering News
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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.
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An Italian magistrate suspended a director of Banca Monte dei Paschi di Siena SpA, the world’s oldest bank, after prosecutors accused him of abusing privileged information.
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The Vatican said it stepped up efforts to improve financial transparency and prevent money laundering as pressure continues for compliance with international standards.
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PokerStars was denied its request to keep alive a $15 million offer to purchase the Atlantic Club Casino Hotel in Atlantic City, New Jersey.
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Italian and Swiss authorities are searching offices in the two countries as part of a money- laundering probe involving former managers of Banca Monte dei Paschi di Siena SpA, court officials said.
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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.
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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.
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Lloyds Banking Group Plc Chief Executive Officer Antonio Horta-Osorio said the U.K. financial center’s tarnished reputation is harming banks’ ability to recruit the best university graduates.
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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.
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Four men were convicted at a trial involving a money-laundering scheme by the Los Zetas drug gang that included buying, training, breeding and racing horses in the U.S., the Justice Department said.
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