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In 9/11 Report, a Case Study in the Difficulties of Tracing Terror Funds For an indication of how difficult it can be to identify terrorism funding, even for federal investigators, read the previously-classified 28 pages of a congressional report on the Sept. 11 attacks.
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July 26, 2016
Singapore to Toughen AML Inspections Following 1MDB Allegations Singapore will step up its supervision of financial institutions in light of allegations that banks in the city-state processed transactions linked to the embezzlement of billions of dollars from Malaysia.
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July 25, 2016
U.S. Remakes Case to Keep HSBC Report Sealed from Field of Litigants U.S. officials told an appellate court on Thursday that plans to unseal a report on HSBC’s anti-money laundering efforts since 2012 could undercut future efforts to police the financial sector.
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July 22, 2016
Weekly Roundup: 1MDB Case Points to NY Law Firm, JPMorgan to Pay $200 Million for FCPA Violations, and More JPMorgan Chase will pay $200 million to settle alleged FCPA violations, President Barack Obama plans to push for stronger global measures against tax evasion, and more, in this week's roundup.
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July 22, 2016
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Monetary Authority of Singapore Managing Director Ravi Menon said Monday that the agency will conduct “more intrusive inspections” of high-risk firms in the wake of the 1MDB corruption scandal. More
DOJ Announces Sentences for Georgia Married Couple Involved in Identity Theft Scheme, Money Laundering According to a press release issued by the U.S. Justice Department, Anthony Alika and Sonia Alika were sentenced to 80 months and 21 months respectively for their roles in a stolen identity tax refund fraud scheme and related money laundering.
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July 27, 2016
White House Continues National Emergency Regarding Lebanon for One Year U.S. President Barack Obama issued a notice regarding the extension of the national emergency concerning Lebanon pursuant to the International Emergency Economic Powers Act. The emergency is continued for one year.
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July 27, 2016
FinCEN Expands Beneficial Ownership Identification Requirements for Cash Buyers of Real Estate Beyond Manhattan, Miami The Financial Crimes Enforcement Network announced that it will expand the reach of geographic targeting orders requiring U.S. title insurance companies to identify high-end cash buyers beyond Manhattan and Miami to include a total of six major U.S. metropolitan areas.
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July 27, 2016
Test Your AML IQ
During the Financial Action Task Force June 2016 plenary, which two countries were removed from the group’s list of nations under its monitoring of ongoing global AML/CFT compliance process?
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From the Editor: A ‘Look Back’ at FinCEN’s Former Director

July 8, 2016

The news in April that Director Jennifer Shasky Calvery would depart the Financial Crimes Enforcement Network at the end of May created a buzz. But with May a memory and July well underway, little more has been written about Shasky Calvery and her impact on FinCEN.That’s unfortunate because her tenure was characterized by a number of significant accomplishments and controversies as well as an overall shift in the direction of FinCEN.

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OFAC Finds Compass Bank in Violation of Sanctions Regulations The Office of Foreign Assets Control of the U.S. Treasury Department issued a finding of violation against the New York, NY-based bank for failing to meet the requirements of the Foreign Narcotics Kingpin Sanctions Regulations.
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July 27, 2016
SEC Orders LAN Airlines S.A. to Pay Over $9.4 Million in Disgorgement, Prejudgment Interest for FCPA Violations The U.S. Securities and Exchange Commission issued a cease-and-desist order against the Santiago, Chile-based airline company for its failure to keep accurate books and records and maintain adequate internal accounting controls in violation of the Foreign Corrupt Practices Act.
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July 25, 2016
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