The August 14th “Asset Search News Roundup” mentions money laundering:
- So far this summer the Financial Action Task Force published evaluations of the anti-money laundering efforts undertaken by Brazil, India and Saudi Arabia. The Financial Action Task Force is a leading anti-money laundering organization, as described at “Anti-Money Laundering Bellwether Seeks Transparency Across The Globe“.
- Britian’s Financial Services Agency has issued an August 2nd “Decision Notice” fining the Royal Bank of Scotland Group £5.6 million, (i.e. $8.9 million dollars), for acting in derogation of the 2007 Money Laundering Regulation.* The Royal Bank of Scotland Group was accused of failing to identify bank customers subject to the UK’s terrorist sanction list. Reuters wrote about the fine and more information about it is available here.
- The link chart below supplied by U.S. Treasury’s Office of Foreign Assets Control, shows the alleged Zambada Financial Network. The chart and its accompanying press release raise the question of whether suspected Sinaloa drug cartel leader Ismael Zambada-Garcia laundered assets through two companies believed to be his nominees, Mexico Arte y Diseno de Culiacan S.A. de C.V. and Autotransportes JYM S.A. de C.V.
*Money Laundering Regulations 2007, is reproduced under the terms of Crown Copyright Policy Guidance issued by HMSO.
**Chart: U.S. Treasury’s Office of Foreign Assets Control
Copyright 2010 Fred L. Abrams