HSBC may find itself in a dire situation after a Federal Judge ordered to have the bank's money laundering report shown in public. The report allegedly contains sensitive information that may indict the London-based bank.
HSBC finds itself in hot water as a court petition by one account holder to release the report on its money-laundering activities in 2012, which had resulted in a $1.9 billion fine. At the same time, it dodged formal government inquiry over allegations that it had been helping its immensely wealthy clients avoid paying tax.
The Vatican should be much more aggressive in dealing with people suspected of financial crimes like money laundering and step up prosecutions and indictments, a European finance watchdog agency said on Tuesday.
U.S. regulators are expanding their probe into Deutsche Bank AG (DBKGn.DE)(DB.N) as a money laundering investigation of a Moscow unit has widened into possible sanctions violations, the Financial Times reported, citing sources.
Brazil's Petrobras may need to pay record penalties of $1.6 billion or more to settle U.S. criminal and civil probes into its role in a corruption scandal, a person recently briefed by the company's legal advisors told Reuters.
A judge threw out corruption charges against South African opposition firebrand Julius Malema on Tuesday, a ruling hailed as a major victory by the vocal critic of President Jacob Zuma.
The United States Department of Justice is investigating trades worth billions of dollars that Germany's Deutsche Bank AG made on behalf of its Russian clients, Bloomberg reported, citing people familiar with the matter.
A Pakistani court granted bail on Tuesday to a supermodel jailed for four months on charges of attempting to smuggle out of the country more than half a million dollars in cash, her lawyer said.
The former prime minister of Mauritius, Navinchandra Ramgoolam, was arrested over the weekend by police on suspicion of conspiracy and money laundering, and later released on bail.
A Portuguese judge on Monday charged former Prime Minister Jose Socrates with corruption and tax fraud and ordered that he remain in preventive custody.
Brazil's federal police were serving 27 additional arrest warrants on Friday in a broad money-laundering investigation that has ensnared a former senior executive at oil firm Petrobras, causing it to delay releasing its results.
Hector Beltran Leyva, head of a family crime syndicate that waged a bloody conflict in Mexico with a former ally, drug kingpin Joaquin "Shorty" Guzman, was captured on Wednesday, an interior ministry source said.
33-year-old Conor Guckian, who used $20,000 in cash to charter a private plane from Nashville to California, "was arrested on money laundering charges after an airport police dog smelled narcotics on $153,000 stuffed into his suitcase, according to a police affidavit released Tuesday," as reported by Reuters. Airport police were alerted to the "suspicious individual."
Jeri L. Wright, daughter of President Barack Obama's former pastor, Jeremiah, was indicted Wednesday on charges of money laundering and lying to federal authorities, U.S. Justice Department spokesman said.
