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U.S. Investigators Ask Banks to Amend Cash Deposit Rules to Curtail Account Funneling U.S. investigators are asking some of the nation’s largest banks to tighten their policies on accepting cash deposits in an effort to choke off the financial channels of human smugglers.
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September 19, 2014
Weekly Roundup: DOJ Asks Banks to Inform on Employees, EU Court Overturns Iran Central Bank Sanctions, and More The deputy chief of the U.S. Justice Department’s asset forfeiture and money laundering section will leave the position next month, Thailand is amending its anti-money laundering laws, and more, in this week's roundup.
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September 19, 2014
EU Lawmakers Ask Member-States to Consider Blocking Russia from Interbank Messaging Platform European lawmakers in a resolution Thursday asked the EU’s executive branch to consider barring Russian banks from the world’s largest interbank messaging platform in response to violence in Ukraine.
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September 18, 2014
Senate Committee Approves Bill Aimed at Foreign Banks Working with Russia The U.S. Senate Foreign Relations Committee Thursday unanimously approved a bill that would clear the way for sanctions against foreign banks that transact on behalf of Russia’s defense and energy businesses.
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September 18, 2014
Moneyval Urges Continued EDD Measures When Dealing With Bosnia and Herzegovina The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism advised member nations to apply enhanced due diligence measures when dealing with Bosnia and Herzegovina in response to its continued anti-money laundering deficiencies.
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September 19, 2014
AUSTRAC Extends Bisotel Rieh Pty Ltd.'s License Suspension The Australian Transaction Reports and Analysis Centre extended the Lakemba-based money services business' license suspension until Sept. 26, 2014 due to deficiencies in its anti-money laundering and counterterrorist financing regime.
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September 19, 2014
White House Continues National Emergency Against Terrorists, Their Supporters President Obama issued a notice announcing that the national emergency with respect to persons who commit or support terrorism pursuant to the International Emergency Economic Powers Act will be extended for another year.
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September 19, 2014
Since-retired OCC Director of BSA Compliance John Wagner outlines the core issues for bank examiners.
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According to the Office of Foreign Assets Control, should a bank restrict a client’s account if he or she travels to Iran to visit a relative?
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Good for Law Enforcement, Not Too Onerous for Banks

August 8, 2014

The proposed customer due diligence rule that was released July 30 was notable for what it didn’t require, perhaps even more than for what it did.

The Financial Crimes Enforcement Network proposal doesn't mandate some of the things financial institutions were most worried about. At the same time, it gives law enforcement much of what it wanted.   



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Finra Alleges Global Strategic Investments Failed to Detect, Report Suspicious Transactions The Financial Industry Regulatory Authority filed a complaint against the Miami, FL-based securities firm alleging that the firm failed to detect, investigate and report suspicious activities related to bond transactions and wire activity of its foreign clients from Venezuela and Curacao.
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September 18, 2014
Russia Warns Commercial Bank Novopokrovsky Regarding Failed Controls (in Russian) The Central Bank of Russia warned the Moscow-based bank about its weak anti-money laundering and counterterrorist financing controls that are contrary to Part 1 of Article 15.27 of the Administrative Offenses Code.
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September 18, 2014
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