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UK Officials Largely Disregarding Bank Reports of Potential Overseas Bribery: OECD U.K. investigators are routinely failing to follow up on confidential disclosures by banks of suspicious payments that may represent the proceeds of foreign corruption, according to an intergovernmental group.
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March 23, 2017
Swiss Private Bank at the Center of Several Overseas Graft Investigations A series of public graft scandals from Uzbekistan to Argentina are alike in having landed dozens of domestic officials, business executives and other suspects in jail in countries already perceived as vulnerable to grand corruption.
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March 23, 2017
Midweek Roundup: US Officials to Tie North Korea to Online Heist, ‘Global Laundromat’ Funds Hit Western Banks, and More Denmark’s Danske Bank and Sweden’s Nordea are cooperating with investigators probing a massive money laundering scheme, Ukrainian officials plan to blacklist foreign politicians who visited Crimea following its seizure by Russia, and more, in the midweek roundup.
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March 22, 2017
Dutch Investigators View Digital Currency Tumblers as Red Flag for Money Laundering Dutch prosecutors are pursuing as many as 15 cases against individuals suspected of using digital currencies and “tumblers” to conceal the flow of illicit proceeds between online black markets and the mainstream banking system, according to a senior official.
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March 22, 2017
Lombard
Geneva-based private bank Lombard Odier is tied to investigations of corrupt politicians and business leaders throughout Latin America, Asia and Europe. More
HM Treasury Removes One Individual from Islamic State, Al-Qaida Sanctions List HM Treasury's Office of Financial Sanctions Implementation released a notice concerning the removal of one individual from its consolidated list following amendments to Council Regulation (EC) 881/2002, which imposes financial sanctions against the Islamic State of Iraq and the Levant and al-Qaida.
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March 23, 2017
HM Treasury Amends Three Entries on Libya Sanctions List HM Treasury's Office of Financial Sanctions Implementation issued a notice concerning changes to the identifying information for two individuals pursuant to Council Regulation (EU) 2016/44, which imposes financial sanctions against Libya.
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March 23, 2017
HM Treasury Removes Four, Amends One Entry on Egypt Sanctions List HM Treasury's Office of Financial Sanctions Implementation issued a notice regarding updates to the Egypt financial sanctions list. Four entries have been removed and one entry has been amended following changes to Council Regulation (EU) 270/2011.
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March 23, 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: AML Compliance Regulations in the Bardo?*

February 27, 2017

You could be forgiven for thinking—at least initially—that all the recent talk from the Clearing House about reframing U.S. anti-money laundering rules came from the same playbook as President Donald Trump’s promise to lay waste to federal supervision of the private sector.

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Fed Requires Santander Holdings USA, Inc. to Strengthen Board Oversight The Federal Reserve Bank of Boston entered into a written agreement with the Boston, MA-based bank and Santander Consumer USA, Inc., its Dallas, TX-based subsidiary, requiring it to submit a plan to enhance senior management oversight of the bank's risk management program.
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March 21, 2017
RBI Fines Transport Cooperative Bank Ltd for KYC Failures The Reserve Bank of India issued a penalty of five lakh rupees against the Indore, India-based financial institution for know-your-customer violations pursuant to the Banking Regulation Act, 1949.
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March 16, 2017
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