The top news sources for Compliance and Money Laundering Cases
Upcoming Events View All
ConferencesSeminarsWebinars
Free downloads related to Financial Compliance Regulations
Enforcement Actions View All
FINRA Fines Penson Financial Services $450,000 for AML Violations The Financial Industry Regulatory Authority fined the Dallas, TX broker $450,000 for allegedly failing to discover and timely investigate suspicious transactions, such as penny stock deposits and liquidations, which can represent a higher risk of money laundering.
Original | Brief
February 2, 2010
Palm Desert Investments Agrees to Help Improve Subsidiary Bank's Capital Levels The Federal Reserve Board entered into an agreement with the Palm Desert, CA based holding company and its subsidiary, Palm Desert National Bank, prohibiting the holding company from paying dividends, incurring new debt, redeeming stock, and making other capital distributions.
Original | Brief
January 28, 2010
Rising Sun Bancorp Agrees to Debt, Stock Redemption Restrictions The Federal Reserve Board reached an agreement with the Rising Sun, MD-based holding company and its subsidiary, NBRS Financial Bank, requiring the bank to establish appropriate risk tolerance guidelines and risk limits, enhance its internal loan grading system, and minimize credit losses.
Original | Brief
January 28, 2010
From the Editor View All

Lord of the Bills


December 15, 2009

 

Last Friday, the U.S. House of Representatives passed the most comprehensive overhaul of the financial markets since the 1930s.

 

“The Wall Street Reform and Consumer Protection Act” cobbles together two bills authored by Rep Barney Frank (D-MA) and eight other bills passed by the House Financial Services Committee that Frank chairs. Weighing in at 1,279 pages, H.R. 4173 may prove to be the equivalent of THE ring in The Lord of the Rings: the one financial reform bill that rules them all.  

 Read More
Legs & Regs View All
Fed to Offer $50 Billion in Credit Through TALF The Federal Reserve Board announced that starting February 8, 2010, it will offer $50 billion in 28-day credit through its Term Auction Loan Facility. Bids are due by 12:30 pm EST on February 8, 2010.
Original | Brief
February 8, 2010
UK Firm Fined $15 Million for Exporting Aircraft to Iran Without License The Department of Justice announced that Balli Aviation Ltd., a subsidiary of the United Kingdom-based Balli Group, PLC, pleaded guilty to illegally exporting commercial Boeing 747 aircrafts from the United States to Iran and agreed to a $2 million criminal fine and $15 million civil settlement.
Original | Brief
February 5, 2010
1st American State Bank of Minnesota Closed The Minnesota Department of Commerce closed the Omega, MN bank and named the Federal Deposit Insurance Corporation receiver. Community Development Bank, FSB, of Hancock, MN assumed all of the failed bank's deposits.
Original | Brief
February 5, 2010
Test Your AML IQ
Risk mitigation procedures at financial institutions for U.S. dollar drafts should include the following:
Training
Training Program Resources Building an effective training program is an essential component of your overall AML program. In this section, get tips and guidance on how to build training programs, how to tailor training and other training issues.
More...
Training Audio Recordings Listen or download pre-recorded webcasts on various important AML topics to train yourself or your staff.
More...
Keeping you informed of the Changes in Bank Regulations
Tools View All
Simplify OFAC list searches with FINRA Combing through the thousands of names on the OFAC sanctions lists can be a long and tedious process. A tool on the FINRA’s website can help.
More...
Using the Internet to research charities Want to know if a specific charity steers clear of terrorist financing? Guidestar (www.guidestar.org), a database of 850,000 U.S. charitable organizations, allows you to search for charities recognized by the U.S. Internal Revenue Service.
More...
  • 15th Annual International Anti-Money Laundering Conference
Free weekly newsletter with Money Laundering Training Events
News View All
FinCEN Expands 314(a) Bank Information Sharing Program to Foreign Law Enforcement The U.S. Treasury Department issued rules Friday broadening the types of law enforcement data requests banks can receive to include queries from foreign officials and investigations tied to additional crimes.
More...
February 5, 2010
Weekly Roundup: EU Committee Rejects Data Sharing Deal, Two Lawyers Charged in Separate Money Laundering Cases, And More A client of UBS AG pleads guilty to tax evasion as a longstanding data sharing arrangement between the United States and the European Union is poised to collapse, in this week's news roundup.
More...
February 5, 2010
Senate Committee Calls for Stronger PEP Rules, But Passage Seen as Unlikely A U.S. Senate subcommittee called for reforms Thursday to better detect when corrupt foreign politicians hide dirty money in the United States, including the implementation of federal beneficial ownership rules.
More...
February 4, 2010
FinCEN Will Miss Congressional Deadline for Stored Value Regulations The U.S. Treasury Department will miss a Feb. 22 deadline set by Congress to implement rules subjecting stored value cards to the Bank Secrecy Act, according to consultants and bank lobbyists.
More...
February 3, 2010
AML Basics
The Global AML Front International cooperation is one of the keys to success in the anti-money laundering battle due to the very nature of proceeds of crime and laundering offenses, and the speed with which international financial transactions can take place.
More...
Reporting Requirements A key goal of a money laundering compliance program is identifying, recording and reporting suspicious transactions or activity. While reporting procedures vary from country to country, a typical suspicious or unusual activity reporting process within a financial institution includes...
More...
Skip Navigation Links
Skip Navigation Links
Skip navigation links
CONFERENCES
OUR PRODUCTS
QUIZZES
RESOURCE CENTER
SEMINARS
WEB SEMINARS
ADMINISTRATION