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Weekly Roundup: UK Banks Target Visa Overstay, EU Adopts New Sanctions Against North Korea, and More Iran pledges to reject any changes to nuclear accord, North Korean smuggling activities increase amid more robust international sanctions, and more, in the weekly roundup.
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September 22, 2017
FinCEN Advisory Challenges US Banks to Review Links to Venezuela: Sources New guidance outlining the methods corrupt Venezuelan officials allegedly use to conceal and move the proceeds of graft will help advance federal investigations in part by generating more-tailored suspicious activity reports from U.S. lenders, say sources.
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September 22, 2017
White House Authorizes Secondary Sanctions Against Overseas Banks Tied to North Korea Foreign banks that willfully process significant transactions for North Korea face exclusion from the U.S. financial system under a new directive from the White House, regardless of whether the payments are conducted in U.S. dollars.
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September 21, 2017
Midweek Roundup: Trump Campaign Manager Faces Charges, UK Government Scraps Plan to Terminate Serious Fraud Office, and More Justice Department settles civil forfeiture claim against Hollywood film producer, global nuclear accord with Iran in peril, and more, in the midweek roundup.
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September 20, 2017
RocketMan
U.S. secondary sanctions implemented Thursday by the White House target foreign financial institutions who transact on behalf of North Korea, whose leader, Kim Jong-un, pictured above, has overseen the country's development of nuclear weapons and ballistic missiles. More...
White House, South Korea Discuss Sanctions Against North Korea The White House published a joint readout regarding a meeting between President Donald J. Trump and President Moon Jae-in of South Korea highlighting the leaders' discussion concerning sanctions against North Korea and increased pressure on North Korea's nuclear program.
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September 22, 2017
State Department Publishes Fact Sheet on C5+1 Dialogue, Including CTF Focus The State Department issued a fact sheet outlining the recent C5+1 dialogue, which covers joint efforts and challenges of the United States and five Central Asian states, including concerns over counterterrorist financing.
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September 22, 2017
State Department, Peru Hold Workshop on Countering Hezbollah The U.S. State Department issued a press release highlighting the recent two-day workshop held by the United States and Peru on using law enforcement and counterterrorist finance tools to counter Hezbollah.
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September 22, 2017
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On Jan. 19, 2017, Western Union agreed to pay the U.S. Justice Department and federal regulators ________ to resolve charges that the institution violated anti-money laundering laws and failed to appropriately monitor 550,000 independent agents.
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Catching Bad Guys Requires Investment, Experimentation and Patience

September 12, 2017

New regulatory technologies aim to improve common anti-money laundering processes, but financial institutions are wary of the costs in time and money that upgrading their compliance programs may require.

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SEC: Telia Company AB to Pay $457 Million for FCPA Violations The U.S. Securities and Exchange issued a cease and desist order against the Stockholm, Sweden-based company requiring it to pay $457 million in disgorgement for violations of the Foreign Corrupt Practices Act related to bribe payments to enter the Uzbekistan telecommunications market.
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September 21, 2017
Telia Company AB to Pay Over $274 Million for FCPA Violations The U.S. Justice Department entered into a deferred prosecution agreement with the Sweden-based telecommunications company, and its subsidiary Coscom LLC, for conspiring to pay more than $331 million in bribes to a government official in Uzbekistan.
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September 21, 2017
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