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Weekly Roundup: ABN Amro Sale Postponed, China Launches New Anti-Corruption Drive, and More Russian lawmakers are considering legislation that would give amnesty to anyone bringing capital back to Russia, Canadian lawmakers pledged to approve a so-called Magnitsky Act that would blacklist Russian officials complicit in human rights violations, and more, in this week's roundup.
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March 27, 2015
House Committee to Recommend Better Ways to Stop Terror Finance The House Financial Services Committee approved the formation of a taskforce Wednesday to recommend how to better cut off funding networks used by terrorist organizations.
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March 25, 2015
OFAC Fines PayPal $7.7 Million for Payments Tied to Nuclear Proliferator PayPal will pay the U.S. Treasury Department nearly $7.7 million for processing hundreds of transactions in violation of sanctions against weapons proliferators.
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March 25, 2015
Midweek Roundup: China Hands U.S. List of ‘Economic Fugitives,’ AML-Delayed Bank Merger Nears Finalization, and More The EU is expected to blacklist 40 Iranian shipping companies for a second time following court rulings, few Australian companies are disclosing instances of foreign bribery and other forms of corruption, and more, in the midweek roundup.
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March 25, 2015
Gruenberg
FDIC Chairman Martin Gruenberg fielded House lawmakers’ questions Tuesday about his agency’s role in warning banks away from high-risk business sectors targeted in Operation Choke Point. More...
FATF Meets with Private Sector to Discuss Terrorist Financing, De-Risking The Financial Action Task Force (FATF) met with representatives from the financial sector and from businesses and professions to discuss recent terrorist financing and terrorism trends, the implementation of FATF standards, and to exchange views on de-risking and the risk-based approach.
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March 27, 2015
EU Updates Counterterrorism Sanctions The Council of the European Union implemented Article 2(3) of Regulation (EC) 2580/2001 on specific restrictive measures against certain persons and entities with a view to combating terrorism and repealing the measures of related Regulation (EU) No 790/2014.
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March 27, 2015
UN Updates Libya Sanctions List The United Nations Security Council's Committee Concerning Libya amended four entries on its sanctions list pursuant to resolution 1970 (2011).
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March 26, 2015
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The Lawsky Legacy


December 2, 2014

Reports that Benjamin Lawsky will step down early next year as superintendent of the New York State Department of Financial Services highlight how time can paradoxically seem to pass both quickly and slowly, almost simultaneously. Perhaps that's because Lawsky has profoundly changed bank regulation - enough that is possible to identify a Lawsky legacy.

 


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DOJ: Schlumberger Oilfield Holdings Ltd. to Pay Over $232.7 Million for Violating U.S. Sanctions Law The Road Town, British Virgin Islands-based provider of oilfield services entered into a plea agreement with the U.S. Justice Department for its violation of the International Emergency Economic Powers Act by facilitating illicit transactions with Iran and Sudan.
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March 24, 2015
OFAC: PayPal, Inc. Agrees to Pay $7.66 Million for Sanctions Violations The U.S. Treasury Department's Office of Foreign Assets Control entered into a settlement agreement with the San Jose, CA-based company, in which PayPal agreed to pay a $7,658,300 penalty for processing transactions in violation of multiple U.S. sanctions.
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March 23, 2015
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