TOP STORY

Apr

To Combat Opioid Epidemic, Congress Grants FinCEN New Blacklisting Power

Tucked into a bill that allocates tens of billions of dollars towards Ukraine’s defense is a provision that newly empowers U.S. officials to unilaterally designate foreign banks, accounts and transactions as a “primary money laundering concern” when linked to fentanyl trafficking.

Legs & Regs

OFAC Removes Two Russia-Related Designations from SDN List

The U.S. Treasury Department’s Office of Foreign Assets Control published a notice concerning the deletion of two Specially Designated Nationals List entries related to Russia.

April 26, 2024

EU Extends Myanmar Sanctions Regime for One Year

The Council of the EU extended the financial sanctions regime in view of the situation in Myanmar until April 30, 2025.

April 26, 2024

Wolfsberg Group Supports FATF Revisions to Combat ML in Payments Industry

The Wolfsberg Group submitted feedback to the Financial Action Task Force on its proposed revisions to Recommendation 16 and its Interpretative Note.

April 26, 2024

EU Renews Sanctions on Moldova for One Year

The Council of the EU announced the decision to prolong the financial sanctions against persons responsible for destabilizing the sovereignty and independence of Moldova until April 29, 2025.

April 26, 2024

Financial Crime Matters: Ex-OCC Official Discusses Recent FinCEN Rulemaking

March 25, 2024

In this episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, and Daniel Stipano, former deputy chief council for the OCC, discuss the Corporate Transparency Act and FinCEN’s creation of a national database of beneficial owners.

Edmund Fitton-Brown on Yemen and the Houthis

March 11, 2024

In the latest episode of Sanctions Space, Justine is joined by Edmund Fitton-Brown, senior advisor at the Counter Extremism Project and former U.K. ambassador to Yemen. They discuss the ongoing tensions in the Red Sea, the political situation in Yemen and the origin and aspirations of the Houthi group, as well as sanctions actions taken by the U.S. and others against the Houthis.

The Assembly Europe

DATE: 05/7/24 - 05/8/24

LOCATION: Amsterdam, The Netherlands, Netherlands

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Money laundering-related red flags associated with virtual assets and virtual asset service providers include:

A. The use of the same IP-address for a large number of seemingly unrelated virtual asset wallets.
B. Depositing virtual assets and then immediately withdrawing them.
C. Both A and B.
D. None of the above.

View all quizzes

More News

Weekly Roundup: Isle of Man Gaming Firms Raided in Money Laundering Probe, US Aid Package Comes With New Sanctions Risks, and More

EU lawmakers approve sweeping AML reforms, Dutch finance minister criticizes banks' intelligence-sharing plan, and more, in the midweek roundup.

April 26, 2024

Two Years After Exiting FATF’s Gray List, Malta’s AML Backslide Accelerates

By Gabriel Vedrenne

In repeated rulings since a damning global evaluation of Malta's defenses against financial crime ended in Sept. 2019, Maltese courts have overturned regulatory penalties against local financial institutions caught violating anti-money laundering rules.

April 26, 2024

Dutch Finance Minister Questions Banking Lobby’s Intelligence-Sharing Plan

By Koos Couvée

The Dutch Finance Minister has poured cold water on a proposal by banks in the Netherlands to dramatically increase intelligence-sharing with local law enforcement agencies so they can refocus their compliance programs on clients who pose the highest risk of criminality.

April 25, 2024

Latvian FIU Takes Leading Role in Russia Sanctions Regime

By Koos Couvée

FIU Latvia director Toms Platacis and Koos Couvée, ACAMS moneylaundering.com's bureau chief in London, discuss the agency's new sanctions responsibilities, how they fit with its traditional remit and the challenges ahead.

April 25, 2024

Midweek Roundup: Binance Founder Faces Jail Time, Chinese Banks in US Crosshairs, and More

U.S. foreign aid bill empowers FinCEN, SEC seeks $5 billion from Terraform Labs, and more, in the midweek roundup.

April 24, 2024

Enforcement Actions

HMRC Fines Company Over £1 Million for Breaching Russia Sanctions

HM Revenue and Customs issued a compound settlement of £1,058,781.79 to an unnamed U.K. exporter in March 2024.

April 26, 2024

FDIC Orders Fed First Bank to Pay $500,000 for Ongoing FTCA Violations

The Federal Deposit Insurance Corporation issued an order to a pay civil money penalty against the Port Angeles, WA-based bank for violations of the Federal Trade Commission Act.

March 26, 2024