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Midweek Roundup: U.K. Seeks Use of Prosecution Agreements for Sanctions Violations, Germany Closes Canadian Bank, and More FATF gave a largely positive mutual evaluation report on Italy, Transparency International is seeking “social and political sanctions” against FIFA, and more, in the midweek roundup.
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February 10, 2016
Congress to Send North Korea Sanctions Bill to White House The U.S. Senate on Wednesday unanimously approved legislation that would require the White House to determine whether North Korea should be blacklisted under the Patriot Act.
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February 10, 2016
OFAC Dings Barclays with $2.5 Million Fine for Zimbabwe Sanctions Violations The U.S. Treasury Department on Monday fined Barclays Bank Plc nearly $2.5 million for more than 150 violations of financial sanctions against a state-owned industrial developer in Zimbabwe.
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February 8, 2016
Weekly Roundup: House Passes ‘Chokepoint’ Bill, Russian Eurobond Could Fund Blacklisted Companies, and More The U.S. Securities and Exchange Commission on fined E.S. Financial Services $1 million, Austria-based Raiffeisen Bank International will open an Iranian branch, and more, in this week's roundup.
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February 5, 2016
RocketXX
Congress approved further North Korea sanctions on Wednesday in response to the country’s nuclear activities and the launch last month of a long-range rocket, pictured above. More
Lead Coordinator for Iran Nuclear Implementation Testifies on Iran's Compliance Lead Coordinator for Iran Nuclear Implementation for the U.S. State Department Stephen D. Mull testified before the House Committee on Foreign Affairs concerning the implementation of the Joint Comprehensive Plan of Action, including the lifting of nuclear-related sanctions against Iran.
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February 11, 2016
OFAC Acting Director Testifies on Enforcement of Iran Sanctions Following JCPOA Implementation Day John E. Smith, Acting Director of the Office of Foreign Assets Control of the U.S. Treasury Department testified before the U.S. House of Representatives Committee on Foreign Affairs regarding Implementation Day of the Joint Comprehensive Plan of Action and efforts to enforce sanctions.
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February 11, 2016
United Kingdom Charity Commission Announces Conviction of Terrorist Financing Defendant According to the press release issued by the Charity Commission, Adeel Ul-Haq was convicted of a terrorist financing offense in connection with his solicitations for what he represented were charitable donations to benefit victims of the Syria crisis.
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February 10, 2016
Test Your AML IQ
The Council of Europe’s MONEYVAL advised the United Kingdom’s Crown Dependency of Guernsey in a mutual evaluation released on January 15 to:
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From the Editor: Sadly, Things May Only Get Tougher for Compliance Pros in 2016

Dec.31, 2015

The potential liability faced by bank professionals, particularly compliance officers, for regulatory violations has been a recurring theme at ACAMS conferences in 2015, and there’s no reason to think it  will be any less of an issue in 2016.


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OCC Fines Santander Bank, N.A. $3.4 Million for Violating Mortgage Services-Related Consent Order The Office of the Comptroller of the Currency issued a civil monetary penalty pursuant to a consent order to the Wilmington, DE-based bank for violating an April 13, 2011 consent order originally issued by the Office of Thrift Supervision.
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February 8, 2016
OCC Issues $10 Million Penalty to U.S. Bank National Association for Violating Consent Order The Office of the Comptroller of the Currency issued a civil money penalty to the Cincinnati, OH-based bank for violating a 2011 consent order by failing to achieve compliance in a timely manner as detailed in a June 16, 2015 amending consent order.
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February 8, 2016
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