Singapore's bank regulator Tuesday shut down a second bank for "serious failures in anti-money laundering controls and improper conduct" linked to Malaysia's 1MDB fund.
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Singapore said Thursday it has seized property and bank accounts linked to money allegedly diverted from Malaysia's sovereign wealth fund, 1Malaysia Development Berhad.
The U.S. Attorney in Manhattan is investigating Germany's Commerzbank AG for alleged violations of money-laundering laws, the Wall Street Journal reported Friday.
The New York Department of Financial Services said Tuesday that Standard Chartered Bank will pay $300 million for "failures to remediate anti-money laundering compliance problems" required by the bank's 2012 settlement with the same regulator.
A customs official at the Qingdao port that's under investigation for commodity financing fraud was found dead last week from "unnatural causes."
Two years after state and federal authorities punished British bank Standard Chartered for doing business with sanctioned countries like Iran, it has once again become the subject of an investigation for failing to weed out other risky transactions.
Bank of America Corp's banking unit agreed to pay $16.6 million to resolve allegations that it processed hundreds of transactions for drug traffickers who are subject to U.S. sanctions, the U.S. Treasury Department said Thursday.
Foreign and local banks in China are inspecting loans linked to metals supposedly warehoused in Qingdao, where traders use commodities from iron ore to rubber to secure loans.
State and federal authorities have begun settlement talks with Commerzbank AG and Deutsche Bank over their alleged dealings with countries blacklisted by the United States.
French banking giant BNP Paribas agreed to plead guilty to criminal charges and pay an $8.9 billion penalty for transferring billions of dollars on behalf of blacklisted Sudan, Iran and Cuba, U.S. authorities said Monday.