The US Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a final ruling imposing prohibition on the opening or maintaining of correspondent accounts for, or on behalf of, FBME Bank Ltd, the Central Bank of Cyprus (CBC) announced on Sunday. The CBC took over the operations of FBME in 2014 after the latter was named […]

Roughly 15 Swiss banks are in a “red zone” of lenders particularly exposed to money laundering risks, the head of Swiss banking watchdog FINMA said in a newspaper interview published on Sunday. Swiss federal prosecutors last week said that they have opened criminal proceedings against Zurich-based Falcon Private Bank for alleged failure to prevent suspected […]