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Weekly Roundup: Switzerland to Impose Beneficial Ownership Rules, Golf’s Mickelson Linked to Laundering Plea, and More The Justice Department and Privatbank Von Graffenried AG signed a non-prosecution agreement that will see the Swiss financial institution pay $287,000, the Bank of Israel fined Bank Leumi Ltd. over $1 million for failing to report unusual transactions, and more, in this week's roundup.
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July 2, 2015
FATF’s Latest Round of Evaluations Proving Challenging for Some Nations, Says Group President The Financial Action Task Force will work in the coming year to help nations struggling to adjust to its revised evaluation methodology, the intergovernmental group’s new president said Wednesday.
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July 1, 2015
AML Pros Embrace Canadian Senate Recommendations on Digital Currency A Canadian proposal to regulate virtual currency firms as money services businesses but otherwise “tread lightly” with federal rules is a welcome approach, according to bank representatives and anti-money laundering consultants.
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June 30, 2015
U.S. Extends Iran Sanctions Relief to July 7 U.S. officials on Tuesday extended temporary sanctions relief for Iran by another week as diplomats said they would miss a deadline to reach a final accord restricting the Islamic Republic’s nuclear program.
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June 30, 2015
Iran
The U.S. Treasury Department extended temporary sanctions relief for Iran through July 7 as global negotiators said they would miss a June 30 deadline to finalize a nuclear accord. More
FCA Publishes Report on Regulatory Achievements, Ongoing Efforts The United Kingdom's Financial Conduct Authority issued their 2014/2015 annual report which highlighted the regulator's work to improve the conduct of the financial industry.
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July 2, 2015
GAO Highlights Needed Improvements for Cybersecurity Oversight The U.S. Government Accountability Office published a report on its examination of how regulators oversee financial institutions' efforts to mitigate cybersecurity threats and where and how cybersecurity information sharing happens between agencies.
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July 2, 2015
OFAC Extends Comment Period Concerning Reporting for Correspondent Accounts Linked to Iran The U.S. Treasury Department's Office of Foreign Assets Control issued an extended notice and request for comments regarding its proposal to renew reporting requirements related to the closure of correspondent accounts linked to foreign financial institutions subject to the Iran sanctions regulations.
Original | Brief
July 2, 2015
Test Your AML IQ
During the Financial Action Task Force's latest plenary, which of the following jurisdictions was deemed as having strategic anti-money laundering and counterterrorist financing deficiencies and no action plan to address the problems or, the jurisdiction has not made enough progress in correcting the deficiencies?
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May 15, 2015



I’ve always found it offensive when tabloids use terms like “rat” or “squealer” to describe the actions of those who report or testify about criminal behavior. It's no less offensive when one of the terms is used in defense of attorney-client privilege.

 

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DOJ Fines Privatbank Von Graffenried AG $287,000 Under Swiss Bank Program The Bern, Switzerland-based bank entered into a non-prosecution agreement with the U.S. Justice Department under the Swiss Bank Program requiring the bank to fully cooperate in any related proceedings.
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July 2, 2015
Fed Requires Cooperatieve Centrale Raiffeisen-Boerenleenbank, NY Branch to Revise AML/BSA Compliance Program The Federal Reserve Bank of New York and the New York State Department of Financial Services entered into an agreement with the Utrecht, Netherlands-based bank and its New York, NY-based branch, following a recent examination that identified anti-money laundering compliance failures.
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June 30, 2015
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