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FATF to Cite Two Nations for Failing to Require Data in Wire Transfers: U.S. Official A global anti-money laundering watchdog is set to criticize a pair of European countries for failing to require banks to identify parties that send or receive wire transactions, a U.S. official said Tuesday.
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September 30, 2014
Regulators See Ongoing Problems with Compliance Staffing, Suspicious Activity Monitoring Financial institutions continue to struggle with hiring effective Bank Secrecy Act officers, allocating sufficient compliance resources and employing adequate internal controls, U.S. regulators said Tuesday.
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September 30, 2014
To U.S.-Swiss Tax Evasion Settlement, a Pocket of Bankers Marshals Resistance Hundreds of Swiss bankers are suing to stop their old employers from turning over to the United States details of their interactions with suspected American tax evaders, according to a tax attorney.
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September 29, 2014
Trade-Based Money Laundering on the Rise, Say Investigators Long considered one of the toughest illicit finance schemes to crack, trade-based money laundering is on the rise in response to stricter regulatory oversight of financial institutions, U.S. investigators said Monday.
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September 29, 2014
Interpol-Europol Conference on Cybercrime Focuses on Cooperation According to the International Criminal Police Organization, 230 specialists from law enforcement, the private sector and academia from 55 countries are scheduled to attend the second Interpol-Europol cybercrime conference from Oct. 1-3, 2014. The theme for the event is cooperation.
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October 1, 2014
Russia Releases Eight AML/CTF Actions Since Monday During Sept. 29 – Oct. 1, 2014, the Central Bank of Russia released eight anti-money laundering and counterterrorist financing actions pursuant to Part 1 of Article 15.27 of the Administrative Offenses Code. The amount of each penalty is not disclosed.
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October 1, 2014
OSCE Leads Workshop on Cross-Border Cooperation Against Corruption, Money Laundering The Organization for Security and Co-operation in Europe, UN Office on Drugs and Crime and Eurasian Group on Combating Money Laundering and Financing of Terrorism organized a three-day workshop to help participants identify ways to combat corruption and money laundering.
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October 1, 2014
Since-retired OCC Director of BSA Compliance John Wagner outlines the core issues for bank examiners.
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Good for Law Enforcement, Not Too Onerous for Banks

August 8, 2014

The proposed customer due diligence rule that was released July 30 was notable for what it didn’t require, perhaps even more than for what it did.

The Financial Crimes Enforcement Network proposal doesn't mandate some of the things financial institutions were most worried about. At the same time, it gives law enforcement much of what it wanted.   



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FDIC Orders Merrick Bank to Pay $1.1 Million for Deceptive Practices The Federal Deposit Insurance Corporation issued a consent order, order for restitution and order to pay civil money penalty against the South Jordan, UT bank for its unfair and deceptive practices related to the marketing and servicing of credit card add-on products.
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September 29, 2014
Russia Warns Krajinvestbank to Maintain Proper AML/CTF Controls (in Russian) The Central Bank of Russia issued a warning against the Krasnodar-based bank for insufficient anti-money laundering and counterterrorist financing internal controls in violation of Part 1 of Article 15.27 of the Administrative Offenses Code.
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September 26, 2014
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