The Federal Deposit Insurance Corporation Wednesday imposed a civil penalty of $140 million against Banamex USA of Century City, California for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws and regulations.… Continue Reading
The U.S. Federal Reserve and the New York Department of Financial Services said China’s second biggest bank has to improve its anti money-laundering practices and do more due diligence on customers.… Continue Reading
The World Bank’s board of executive directors Tuesday approved “a once-in-a-generation” reform package for procurement in projects financed by the Bank.
In the new Procurement Framework, the World Bank said its management “will examine options to collect, and make available the beneficial ownership information for legal entities participating in Bank-financed procurements.”… Continue Reading
The Anti-Corruption Interest Group of the American Society of International Law, co-chaired by myself and Phil Nichols of the Wharton School, is soliciting papers for its first conference/workshop. We invite thoughtful papers from academics and practitioners alike.… Continue Reading