News»

Italian Lender at the Center of Fraud and Money Laundering Scandal: Reports Top compliance managers, supervisory board members and senior executives of Italy’s fourth largest bank are suspected of willfully violating the nation’s rules against illicit finance as part of an alleged conspiracy to enrich themselves at the lender’s expense.
More...
June 27, 2017
EU Banks Failing to Detect Beneficial Owners: Commission Financial institutions in the European Union are failing to recognize the controlling minds behind sophisticated money laundering operations by only “mechanically” applying EU rules aimed at piercing corporate secrecy, the bloc’s executive branch said Monday.
More...
June 26, 2017
UK Officials Extend Beneficial Ownership Rules to Scottish Limited Partnerships Beneficial owners of a particularly opaque corporate structure described by critics as the United Kingdom’s “home-grown secrecy vehicle” must be identified from Monday onward under national rules designed to ensure compliance with EU anti-money laundering regulations.
More...
June 23, 2017
US Officials Target Money Laundering Ring Based in Cyprus Federal prosecutors in Massachusetts charged two Jordanian residents of Cyprus with running a money laundering scheme involving a bank account in Jordan, a wire transfer to an American lender and a forged invoice for medical equipment, court documents show.
More...
June 23, 2017
BankMelli
FATF on Friday extended its suspension of countermeasures against banks based in Iran, which, according to the intergovernmental group, continues to fund terrorism despite having adopted a new law to combat terrorist financing in March 2016. More
National Director of Anti-Corruption in Colombia Charged with Conspiracy to Commit Money Laundering According to the complaint filed in the Southern District of Florida, Luis Gustavo Moreno Rivera and Leonardo Luis Pinilla Gomez have been charged with conspiracy to commit money laundering in connection to an effort to entice foreign bribery related to a corruption investigation.
Original | Brief
June 27, 2017
Secretary of State, Ambassador Issue Remarks at Launch Ceremony for 2017 Human Trafficking Report Secretary of State Rex W. Tillerson and Susan Coppedge, Ambassador-at-Large, Office to Monitor and Combat Trafficking in Persons, issued a statement as part of the launch for the 2017 Trafficking in Persons Report.
Original | Brief
June 27, 2017
OSCE Supports AML Investigation Training in Montenegro The Organization for Security and Co-operation in Europe supported a two-day workshop on conducting financial investigations into money laundering from June 21 though June 22, 2017 in Podgorica, Montenegro.
Original | Brief
June 27, 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.
Free weekly newsletter with Money Laundering Training Events
Subscribe Now Learn More Free Demo


From the Editor: In Praise of Transparency and US Inspectors General

June 16, 2017

Funding and staffing for the inspectors general in every federal agency is under attack, despite the invaluable oversight service they perform.

More...

Fed: The Bank of New York Mellon Corporation Fined $3 Million for Unsafe Practices The Federal Reserve Board issued a consent order and civil money penalty against the New York, NY-based bank holding company for unsafe and unsound practices related to improperly assigning a lower risk weighting to a portfolio of assets which resulted in reducing its risk-based capital ratios.
Original | Brief
June 26, 2017
OFAC: American International Group, Inc. to Pay $148,698 for Possible Sanctions Violations The Office of Foreign Assets Control of the U.S. Treasury Department entered into a settlement agreement with the New York, NY-based international insurance and financial services organization requiring it to pay the fine to settle possible violations of various sanctions programs.
Original | Brief
June 26, 2017
Skip Navigation Links
Skip navigation links
Legs & Regs 
Countries 
QUIZZES
Resources 
News 
Enforcement Actions