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Arab Bank Liable for Terrorist Accounts, Jury Rules In the first trial of its kind, a federal court said Monday that Arab Bank is liable for deaths caused by Hamas and a Saudi charity that used its accounts to reward terrorism.
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September 22, 2014
New York Considering Tweaks to Virtual Currency Rules, Says Superintendent New York’s financial regulator could soon hone expected rules on the use of virtual currencies after industry representatives complained to the agency that parts of its initial plan were vague.
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September 22, 2014
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
Armenia Amends AML/CTF Law The Central Bank of Armenia announced that the National Assembly of the Republic of Armenia adopted the amended Law on Combating Money Laundering and Terrorism Financing and 14 other laws, which were published in the 41st Official Gazette on July 30, 2014.
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September 23, 2014
Treasury Department Reduces Tax Benefits of Corporate Tax Inversions The Treasury Department and Internal Revenue Service took targeted steps to eliminate techniques that inverted companies use to gain tax-free access to the deferred earnings of a foreign subsidiary.
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September 22, 2014
FDIC Chairman Urges Banks to Consider Cybersecurity When Adopting New Technologies Chairman of the Federal Deposit Insurance Corporation Martin J. Gruenberg addressed participants at the American Banker Regulatory Symposium to discuss supervision of the U.S. banking industry and certain risks associated with managing financial risk.
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September 22, 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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Regulator Releases Warning Against Sviaz-Bank Citing AML/CTF Violations (in Russian) The Central Bank of Russia issued a warning against the Moscow-based bank for insufficient anti-money laundering and counterterrorist financing controls in violation of Part 1 of Article 15.27 of the Administrative Offenses Code.
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September 23, 2014
Lesbank Receives AML/CTF Penalty for Deficient Internal Controls (in Russian) Citing the violation of Part 1 of Article 15.27 of the Administrative Offenses Code, the Central Bank of Russia released a monetary fine against the bank based in Moscow. The bank failed to establish proper controls to prevent money laundering and terrorist financing.
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September 22, 2014
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