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Weekly Roundup: US Lawmakers Approve Sanctions on Iran, Top Trump Aide Under FBI Investigation, and More Deutsche Bank close to settling Federal Reserve investigation, Justice Department houses federal attorney with U.K. Financial Conduct Authority, and more, in this week's roundup.
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May 26, 2017
European Union Reconsiders Plan to Track Terrorist Finances Independently Four years after rejecting a program to track terrorist financing over budgetary and data privacy concerns, the European Union is reconsidering the project following a string of deadly attacks in the United Kingdom and throughout the 28-nation bloc.
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May 26, 2017
US Senators Propose Expansion of Money Laundering Statutes The head of a powerful Senate panel introduced legislation Thursday that would empower law enforcement to seize undeclared prepaid value at U.S. borders and enable federal prosecutors to charge suspected income tax evaders with money laundering.
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May 25, 2017
US Lawmakers Propose to Expand Real Estate GTOs to Cover Wire Transfers Federal lawmakers reintroduced legislation Wednesday that would expand enhanced reporting requirements for firms involved in the purchase of high-end residential properties in New York, Miami and a handful of other U.S. cities.
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May 24, 2017
MadoffX
Banks are increasingly exposed to civil complaints for allegedly facilitating investment frauds similar to the $65 billion Ponzi scheme run by disgraced American stockbroker Bernie Madoff. More
Texas Woman Pleads Guilty to Hiding Over $1.3 Million in Panama The U.S. Justice Department announced that Texas resident Joyce Meads pleaded guilty to conspiring to defraud the United States by using offshore Panamanian accounts to conceal over $1.3 million in oil well royalties.
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May 26, 2017
NCA: Convicted Money Launderer Forfeits £118,000 The United Kingdom's National Crime Agency announced that Daniel Harris, who was previously found guilty of money laundering, has been ordered to forfeit £118,000 found hidden inside his daughter's wardrobe during a raid initiated as part on investigation into a drug smuggling ring.
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May 26, 2017
Hong Kong Launches Fraud, Money Laundering Intelligence Taskforce The Hong Kong Monetary Authority announced the launch of the Fraud and Money Laundering Intelligence Taskforce, which is a 12-month pilot project aimed at disrupting financial crimes and money laundering.
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May 26, 2017
Test Your AML IQ
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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From the Editor: AML Compliance Regulations in the Bardo?*

February 27, 2017

You could be forgiven for thinking—at least initially—that all the recent talk from the Clearing House about reframing U.S. anti-money laundering rules came from the same playbook as President Donald Trump’s promise to lay waste to federal supervision of the private sector.

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Hong Kong Regulator Suspends Guoyuan Securities Brokerage Limited Officer for AML/CTF Violations The Securities and Futures Commission of Hong Kong issued a disciplinary action against Hui Lam Chiu banning the former officer of Guoyuan Securities Brokerage (Hong Kong) Limited for a period of six months for anti-money laundering and counterterrorism financing violations.
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May 19, 2017
DOJ: Banamex USA to Forfeit $97.44 Million for BSA/AML Violations The U.S. Justice Department entered into a deferred prosecution agreement with the Los Angeles, CA-based bank, a subsidiary of Citigroup Inc., for violations of the Bank Secrecy Act and anti-money laundering requirements.
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May 19, 2017
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