Day: August 9, 2018

money laundering

Canada Becoming a Hotbed for Money Laundering

On By IA360 Staff

Two-thirds of Canadian banks examined by regulators had “significant levels” of noncompliance with anti-money laundering rules, according to report to lawmakers reviewed by the Wall Street Journal. The Royal Canadian Mounted Police estimated in 2011 that between $3.8 billion to $11.5 billion is laundered in the country annually. Critics of Read More

Higashi-Nippon Bank

Japan to Probe Internal Audit Functions at Regional Banks

On By IA360 Staff

Japan’s financial watchdog, the Financial Services Agency, is conducting onsite inspections of the internal audit functions of the country’s regional banks to ensure they are functioning properly. The probe comes after a failure by internal audit at one of the banks, Higashi-Nippon Bank, to identify and stop improper practices, including illegally Read More