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Midweek Roundup: North Korean Hackers Linked to Taiwan Bank Heist, United States Plans More Sanctions on Iran, and More Russia suspected of laundering funds for the Taliban, Maltese journalist investigating Panama Papers scandal murdered, and more, in the midweek roundup.
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October 18, 2017
Congolese Bank Accused of Violating US Sanctions Against Hezbollah A Congolese bank’s handling of funds allegedly tied to a U.S.-blacklisted Lebanese-militia in apparent violation of U.S. sanctions highlights the need for global banks to effectively scrutinize their business relationships in high-risk regions, say sources.
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October 18, 2017
EU Lawmakers May Recommend Banning or Restricting MSBs Over Terrorist Financing Concerns The European Parliament is reviewing a suggestion by its policy department that money remitters be barred from operating in the European Union to prevent funds from reaching terrorists.
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October 17, 2017
Poor Communication Prevents Banks from Understanding Financial Crime Risks: Report Fewer than one of every 10 banks in Hong Kong, Singapore and Argentina obtain enough intelligence from law enforcement to understand and counter the most serious threats of financial crime in their jurisdictions, an independent think tank said.
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October 16, 2017
Rex
U.S. Secretary of State Rex Tillerson speaking at a press conference in New York on Sept. 20. On Thursday, Tillerson outlined the Trump administration's plans to withdraw the United States from the nuclear accord with Iran and target the country's elite military unit, the Islamic Revolutionary Guards Corp. More...
EU: Commissioner King Discusses Anti-Terrorism Package European Commissioner for the Security Union Julian King delivered remarks concerning the newly presented anti-terrorism package that proposes a set of measures to build the EU's resilience, limit terrorists' ability to carry out attacks and strengthen international cooperation.
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October 18, 2017
NCA: Two Individuals Sentenced for Conspiracy to Import Cocaine, Money Laundering The United Kingdom's National Crime Agency announced that Gillian Weldrick and Ortis Dexter Ollivierre were sentenced to 12 years each in prison for money laundering and conspiracy to import cocaine.
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October 18, 2017
EU Publishes Fact Sheet on New Anti-Terrorism Package The European Commission published a fact sheet with questions and answers concerning the newly presented anti-terrorism package that seeks to support member state efforts in protecting public spaces and reinforcing external action on counterterrorism.
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October 18, 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: BD White Birch Investment LLC Agrees to Pay $372,465 to Settle Sudanese Sanctions Violations The U.S. Treasury Department's Office of Foreign Assets Control and the Greenwich, CT-based company entered into a settlement agreement to address three apparent violations of the Sudanese Sanctions Regulations related to the shipment of Canadian-origin paper to Sudan.
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October 5, 2017
Fed Fines HSBC Holdings plc $175,296,000 for Poor Risk Management of Forex Activities The Federal Reserve Board issued the monetary penalty against the London-based financial institution and its New York-based subsidiary due to insufficient governance, risk management, compliance and audit policies and procedures.
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September 29, 2017
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