Thursday 28 March 2024
 
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laundering

20pc increase in money laundering cases in Bahrain

There was a 20 per cent increase in suspicious financial transactions reported in Bahrain last year compared to 2014, according to a special unit that monitors money laundering cases. A total of 1,044 suspicious transaction reports (STRs) were

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Anti-money laundering regulation challenges in focus

The recent changes and future challenges of international anti-money laundering regulation was discussed at the seventh Compliance and Anti-Money Laundering Seminar in Riyadh, Saudi Arabia recently. It was organised by leading sou

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US pushing banks to rid casinos of dirty money

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. Bankers, casino

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Verdict due in $923m laundering trial in Bahrain

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

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Final arguments made in money-laundering case

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

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Money-laundering trial witnesses to be summoned

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

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Saudi invests to curb money laundering

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

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Big money-laundering racket busted in Bahrain

Twelve men have been accused of being part of a money laundering ring that illegally transferred SR400 million ($106.6 million) overseas, a report said. The suspects are all Indians working in one of Bahrain's leading money ex

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StandChart weighs settling Iran deals row

British bank Standard Chartered is rushing to reach a settlement within days over charges it hid transactions tied to Iran and is set to resume talks with US regulators on Monday, sources familiar with the situation said. The Lond

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Anti-money laundering software market to reach $690m

The global Anti-Money Laundering (AML) software market is expected to see an average annual growth of 9 per cent over the next few years and reach over $690 million in 2015, according to a recent industry report. The report by the Aite gro

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