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FinCEN Tags California Card Club with Civil Monetary Penalty The U.S. Treasury Department levied an $8 million penalty Friday against one of the largest card clubs in California, accusing its management of ignoring loan sharks, failing to investigate unusual transactions and all but defending anonymous gambling.
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November 17, 2017
UK Lawmakers Reject Plans to Blacklist by ‘Description’ U.K. lawmakers said Friday they oppose the government’s proposal for ministers to designate some individuals by “description,” such as by their participation in an organization or association with certain politicians, rather than by name, after Great Britain leaves the European Union.
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November 17, 2017
Weekly Roundup: Reports Tie Trump’s Panama Hotel to Money Launderer, Manafort Overpaid by Millions for Home Renovations, and More JP Morgan Chase & Co. accused of violating Swiss AML rules, HSBC closed front-company accounts linked to South Africa's Gupta family, and more, in this week’s roundup.
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November 17, 2017
Ireland May Launch AML Intelligence-Sharing Taskforce: Sources If Ireland’s temporary mechanism for banks and law enforcement to share intelligence on payment fraud succeeds next year, the government may launch a similar taskforce covering suspected instances of money laundering and terrorist financing, say sources.
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November 17, 2017
TreasuryXX
The U.S. Treasury Department's headquarters in Washington, D.C. On Friday, the department's Financial Crimes Enforcement Network disclosed an $8 million civil monetary monetary penalty against a California-based card club for wilfully violating anti-money laundering rules. More...
OFAC Publishes FAQ on Iran Humanitarian Aid Under Sanctions Program The Office of Foreign Assets Control of the U.S. Treasury Department issued a frequently asked question concerning how individuals can help the Iranian people while making sure to abide by U.S. sanctions in light of the recent earthquake in Iran.
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November 17, 2017
OECD Publishes Second Peer Review Report on Italy's Compliance with International Tax Transparency Standard The Organisation for Economic Co-operation and Development's Global Forum on Transparency and Exchange of Information for Tax Purposes issued a second round peer review report concerning Italy's compliance with the international standard on transparency and exchange of information upon request.
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November 17, 2017
OCC Deputy Comptroller Discusses Community Banking Operation Risks, BSA Compliance Deputy Comptroller for the Central District Blake Paulson delivered remarks at the Joint Community Bank Symposium in Chicago, Illinois concerning issues related to community banks and federal savings associations, including implementation of effective Bank Secrecy Act programs.
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November 17, 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: Running With the Big Dogs 

October 13, 2017

Ireland’s status as a global financial center is an established fact, but one that also elicited concern from FATF examiners in a mutual evaluation report last month on the country's AML and CFT measures.

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OFAC Fines BCC Corporate SA $204,277 for Apparent Sanctions Violations The Office of Foreign Assets Control of the U.S. Treasury Department issued a monetary penalty against American Express Company on behalf of the Brussels, Belgium-based credit card issuer and corporate service company for apparent violations of the Cuban Assets Control Regulations.
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November 17, 2017
FinCEN Fines Artichoke Joe's Casino $8 Million for BSA/AML Violations The Financial Crimes Enforcement Network issued a civil monetary penalty against the San Bruno, CA-based card club for its failure to comply with the Bank Secrecy Act and anti-money laundering requirements.
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November 15, 2017
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