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Weekly Roundup: HSBC Considering Move, Bitcoin Firm Applies for New York License, and More Royal Bank of Canada said that a French judge has dropped money-laundering charges against its Bahamas branch, Panama’s legislature approved a bill that will impose AML requirements on over a dozen nonfinancial sectors, and more, in this week's roundup.
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April 24, 2015
British Elections Hold Key to Shape of Corporate Transparency in U.K. Territories U.K. elections in May aren’t likely to spare British territories from implementing new corporate transparency measures, but the results could determine how soon and how far those steps are taken.
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April 24, 2015
Border Cash Seizures in Texas on the Rise, Say U.S. Officials Attempts to smuggle cash from Texas into Mexico have spiked following the country’s decision last year to partially lift a cap on U.S. dollar deposits, according to federal investigators.
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April 24, 2015
From the Editor: Not THAT Funny The importance of the IRS hasn’t prevented Congress from cutting its budget by 20 percent over the past five years. Operating with 13,000 fewer employees, the IRS is finding it increasingly difficult to accomplish what it is tasked to do.
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April 23, 2015
Cayman Islands Monetary Authority
The public registry proposal could help to shed light on the thousands of offshore corporations with listed addresses at Cayman's Ugland House. More...
Singapore Regulator Revises AML/CTF Guidance for Banks The Monetary Authority of Singapore revised its notice and guidelines for banks on anti-money laundering and counterterrorist financing regulations requiring senior management and board oversight, internal controls and regular risk assessments.
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April 24, 2015
Singapore Regulator Publishes Updated AML/CTF Guidance for Finance Companies The updated guidance released by the Monetary Authority of Singapore for finance companies covers anti-money laundering and counterterrorist financing risk assessment, customer due diligence and other legal and regulatory requirements.
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April 24, 2015
MAS Publishes Updated AML/CTF Guidance for Money Changers The Monetary Authority of Singapore issued the updated guidelines covering anti-money laundering and counterterrorist financing concerns for money changers, including requirements related to customer due diligence, the freezing of assets and risk assessment.
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April 24, 2015
Test Your AML IQ
On April 7, the Asia/Pacific Group on Money Laundering issued a public statement warning its members about the compliance risks arising out of:
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Not THAT Funny

 

April 24, 2015


The importance of the IRS hasn’t prevented Congress from cutting its budget by 20 percent over the past five years. Operating with 13,000 fewer employees, the IRS is finding it increasingly difficult to accomplish what it is tasked to do. 

 

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Finra Fines 1st Discount Brokerage, Inc. for AML Violations The Financial Industry Regulatory Authority issued a $60,000 fine against the Lake Worth, FL-based retail securities business for anti-money laundering deficiencies.
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April 23, 2015
OFAC Fines Card-Based Service Provider $23,336 for Kingpin Sanctions Violations The U.S. Treasury Department's Office of Foreign Assets Control announced that Atlanta, GA-based First Data Resources, LLC agreed to pay the penalty to settle potential civil liability for alleged violations of the Foreign Narcotics Kingpin Sanctions Regulations.
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April 15, 2015
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