TOP STORY

Apr

Binance Executive’s Nigeria Arrest Has Compliance Officers Rethinking Travel Plans

Tigran Gambaryan, head of anti-financial crime at Binance, appears in court in Abuja, Nigeria, on Thursday, April 4, 2024. Gambaryan’s arrest in Nigeria, where he has since been charged with money laundering and other crimes, has raised concerns within the global financial services industry. (Getty)

Legs & Regs

BIS Adopts Revised Supervisory Core Principles for Banks

The Bank for International Settlement issued its revised and finalized Core Principles for Effective Banking Supervision.

April 25, 2024

HMT Adds Two Individual, Four Entities to Iran Sanctions List

HM Treasury’s Office of Financial Sanctions Implementation issued a notice concerning the addition of two individuals and four entities to the consolidated list pursuant to the Iran (Sanctions) Regulations 2023.

April 25, 2024

Canada Sanctions Two Individuals, Two Entities for Attack on Israel

Global Affairs Canada announced additional sanctions against Iran in response to the April 14, 2024, attack on Israel pursuant to the Special Economic Measures (Iran) Regulations.

April 25, 2024

OFAC Adds Eight Individuals, 15 Entities to SDN List

The Office of Foreign Assets Control of the U.S. Treasury Department added 29 entries to the Specially Designated Nationals List with respect to Iran, counter terrorism, and non-proliferation issues, including eight individuals, 15 entities, five vessels, and one aircraft.

April 25, 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.

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More News

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

To Combat Opioid Epidemic, Congress Grants FinCEN New Blacklisting Power

By Fred Williams

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.

April 24, 2024

Breaking April 24, 2024: 12:26 pm ET

Ukraine Aid Bill Deploys Patriot Act Against Fentanyl Traffickers

Enforcement Actions

HMRC Fines Six Companies Over £1.3 Million for Breaching UK Export Controls

HM Revenue and Customs entered into settlements with six companies between January and March 2024, requiring them to pay a total of £1,307,823.16 for violations of the Export Control Order 2008.

April 25, 2024

RBI Fines Bishnupur Town Cooperative Bank Ltd. ₹1 Lakh for KYC Failures

The Reserve Bank of India penalized the West Bengal, India-based bank for failing to adhere to its anti-money laundering obligations.

April 25, 2024