News»

Weekly Roundup: Group Allegedly Hacks into 15 Financial Institutions, Austrian Central Banker Accused of Laundering, and More The vice-governor of Austria's central bank and eight others were charged with bribery and money laundering, ten money services businesses were raided by police in London on suspicion of money laundering, and more, in this week's roundup.
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June 14, 2013
Proposed ‘European FATCA’ May Face Rocky Road to Implementation A plan to require member-states of the European Union to automatically exchange tax-related data in an effort to boost government revenues is likely to face political and logistical challenges.
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June 14, 2013
AML Officers Should Embrace Coming Regulations, Says Former ABN Amro Compliance Chief As the compliance expectations of European regulators grow, banks should proactively move to adopt future changes outlined in proposals for the EU’s Fourth Money Laundering Directive, according to the former global head of compliance at ABN Amro.
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June 13, 2013
Plaintiffs Suing TD Bank Unlikely to Accept Proposed Rothstein Settlement Plaintiffs suing Toronto Dominion Bank over its ties to a convicted Ponzi schemer will likely reject a proposed comprehensive settlement that would grant the institution immunity from future litigation, say attorneys.
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June 12, 2013

Legs & Regs»

U.S., Russia Create Mechanism for Information Sharing to Protect Critical Information Systems The presidents of the United States and the Russian Federation issued a joint statement, affirming the importance of cooperation between the two countries to enhance a bilateral understanding of criminal and terrorist threats to information and communications technologies.
Original | Brief
June 17, 2013
State Department: Philippines Joins G8 Global Partnership The U.S. Department of State issued a press release congratulating the United Kingdom, a chair of the Global Partnership Against the Spread of Weapons and Material of Mass Destruction, on welcoming Philippines as the 26th member of GP.
Original | Brief
June 17, 2013
Presidents of U.S., Russia Share Intent to Continue Developing Counterterrorism Partnership The White House released a joint statement of the presidents of the United States and Russia, which expresses both parties' condemnation of terrorism and intent to strengthen their counterterrorism cooperation based on mutual trust and exchange of pertinent operational information.
Original | Brief
June 17, 2013
Test Your AML IQ
The Caribbean Financial Action Task Force issued a Public Statement on May 29th on which of the following nations?
  • CLEAR EDD
  • FinCEN E-Filing Deadline Article
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From the Editor: ICE’s Use of Prepaid Card Readers Reportedly on Hold – Indefinitely

Last fall, we reported that the U.S. Immigration and Customs Enforcement would begin testing prepaid card readers at border crossings around the country as part of a broader effort to identify when criminals exploit the cards to smuggle money.

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Enforcement Actions»

Unicorbank Receives Warning of AML/CTF Deficiencies (in Russian) According to Part 1 of Article 15.27 of the Administrative Offenses Code, the Central Bank of Russia announced a warning against the Moscow-based bank for its deficiencies in internal controls concerning anti-money laundering and counter-terrorism financing measures.
Original | Brief
June 14, 2013
Rublev Bank Must Pay Fine for Insufficient AML/CTF Controls (in Russian) The Central Bank of Russia imposed an administrative fine against the Moscow-based bank for deficient anti-money laundering and counter-terrorist financing internal controls. The fine against Rublev Bank was issued on May 21, 2013 and entered into force on June 4, 2013.
Original | Brief
June 13, 2013
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