Large global banks are facing increased pressure from US regulators to clamp down on casino money-laundering as the government pushes the industry to police not only its own transactions but customers' as well.
A verdict is due in the trial of 16 men accused of being part of a money laundering racket that transferred up to BD350 million ($923.7 million).
They include 11 managers and employees working for an exchange c
Lawyers have submitted final arguments in the trial of 16 men accused of being part of a money-laundering racket that transferred up to BD350 million ($923.6 million).
The ring included 11 managers and employee
Bahrain joined the world yesterday (March 29) for the annual Earth Hour campaign, which is aiming to raise money via the Internet for local environmental projects.
The Singapore-based campaign by conservation g
Prosecution witnesses will be summoned to court in the case of 16 men accused of being part of a money-laundering ring in Bahrain that transferred up to BD350 million ($923.4 million).
The ring included 11 mana
Security is being beefed up at a money exchange after it was confirmed it was the target of a botched burglary.
An employee at Nonoo Exchange, on Exhibition Avenue, initially denied there was a break-in and sai
Saudi Arabia has invested significant resources to tackle anti-money laundering (AML) challenges including the most recent amendments concerning the local regulations, said a senior official.
Speaking at the si
Staff at a money exchange in Manama had to break into their own place of work yesterday, after a key got jammed in the lock.
It prompted false reports on social media that Nonoo Exchange, on Exhibition Avenue,
Money-transfer company Western Union Company is being probed by the Federal Trade Commission and a US district court over fraud-induced money transfers, the company said in a regulatory filing.
The company said it received a civil