- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2020-02-21T15:52:00
Compliance officers can learn a lot from the anti-money laundering compliance shortcomings at Julius Baer Group, as well as from what the bank is now doing to enhance its risk management and AML compliance controls.
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The Swiss government launched consultation proceedings on a series of reforms designed to combat money laundering and terrorist financing occurring within the country’s financial system.
Julius Baer International will pay more than £18 million (U.S. $21.5 million) to settle charges laid by the U.K. Financial Conduct Authority for paying bribes to generate business with a Russian oil company.
Swiss bank Julius Baer entered a deferred prosecution agreement and will pay $80 million for its role in a money laundering conspiracy linked to world soccer federation FIFA, the Department of Justice announced.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
