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FATF May Revise Counterproliferation Standards: Sources Financial Action Task Force delegates in a series of closed-door sessions beginning this weekend will consider recommending additional measures to choke off the flow of funds to illegal nuclear, chemical and biological weapons programs, say sources.
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February 17, 2017
Weekly Roundup: Canadian Regulator Challenges FIU’s Decision to Shield Bank, Royal Bank of Scotland Compliance Team Accused of Enabling Fraud, and More Australian gaming company pays $35 million to settle money laundering charges, U.S. lawmaker raises alarm over Deutsche Bank’s loans to U.S. President Donald Trump, and more, in this week’s roundup.
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February 17, 2017
FinCEN Must ‘Reclaim’ Examination Authority, Overhaul AML Rules: Industry Panel The U.S. financial intelligence unit should “reclaim” sole authority for examining multinational banks that present national security implications and require them to submit a broader set of raw data tied to suspicious transactions, an influential industry group said Thursday.
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February 16, 2017
New York Finalizes Cybersecurity Rule for Banks, with Certification Requirement New York-chartered financial institutions must assess their cybersecurity risks and design plans to prevent, investigate and recover from online attacks, the state’s primary banking regulator said in a final rule Thursday.
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February 16, 2017
TreasuryDept
The Clearing House Payments Company wants the U.S. Treasury Department's Financial Crimes Enforcement Network to "reclaim" sole supervision over global financial institutions for anti-money laundering, counterterrorist financing purposes. More
Australian Regulator Publishes Latest Edition of Consolidated Sanctions List Australia's Department of Foreign Affairs and Trade updated its Consolidated List that includes all persons and entities subject to financial sanctions under the Charter of the United Nations Act 1945 and the Autonomous Sanctions Act 2011.
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February 20, 2017
FATF Summarizes Outcomes of FinTech, RegTech Roundtable The Financial Action Task Force announced that it held a roundtable on financial technology and regulatory technology in Paris, France on Feb. 18, 2017 to engage various anti-money laundering and counterterrorist financing professionals, national supervisors, international organizations and others.
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February 18, 2017
EU Amends Zimbabwe Sanctions Regulation to Allow for Certain Equipment Sales Exceptions The Council of the European Union issued Council Regulation (EU) 2017/284 amending the restrictive measures against Zimbabwe in light of the need to provide exceptions to the prohibition on the sale of equipment for the purposes civilian use in mining or infrastructure projects.
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February 18, 2017
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From the Editor: Rise of the Compliance Bots?

January 30, 2016

Several dystopian novels describe a future in which homo sapiens become enslaved or extinct because of the rise of robots and computers. While current buzz in the compliance world doesn’t include speculation on our extinction, there is lots of talk about the rise of "regtech."

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PRA Fines Bank of Tokyo Mitsubishi UFJ Limited, Subsidiary Over £26 Million for Reporting Failures The United Kingdom's Prudential Regulatory Authority issued a final notice imposing a £17.85 million financial penalty on the Bank of Tokyo Mitsubishi UFJ Limited and a separate £8.925 million penalty on MUFG Securities EMEA plc for failing to disclose information and cooperate with the regulator.
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February 9, 2017
Finra Fines Former Pennaluna & Company Representative $10,000 for AML Failures The Financial Industry Regulatory Authority issued a monetary penalty against Ronald B. Nicklas, Jr., a former general securities representative for the Coeur d'Alene, ID-based firm for failing to implement to an anti-money laundering program designed to detect suspicious activities.
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February 6, 2017
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