In Bangladesh, Reforms Have Reduced Illegal Remittances, Says Central Banker Bangladesh’s long fight against an informal remittance channel popularized centuries ago is inching toward a close, according to Atiur Rahman, the governor of the country’s central bank.
October 20, 2014
Weekly Roundup: Commerzbank AG Deal Reportedly Delayed, UBS Exec Claims No Knowledge of Tax Evasion, and More PayPal has strengthened controls over e-payments in Russia, the expected U.S. settlement with Commerzbank AG for alleged sanctions violations has been delayed, and more, in this week's roundup.
October 17, 2014
As EU Companies Queue for Open Iran, Europe’s Banks Stand Aside European companies may be lining up at the gate to do business with Iran in the event of a sanctions rollback but don’t expect the continent’s banks to go rushing in anytime soon.
October 17, 2014
U.S. Adds Four Syrian Banks to Blacklist U.S. officials Thursday blacklisted four Damascus banks and eight other entities under a series of executive orders targeting Syrian human rights violators and others tied to the Bashar al-Assad government.
October 16, 2014
EU Officials Discuss Key Aspects of G20 Summit in Australia European Commission President Jose Manuel Barroso and European Council President Herman Van Rompuy highlighted topics that will be discussed at the G20 summit in Brisbane on Nov. 15-16, 2014. Matters include financial regulation and efforts to curtail tax avoidance.
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October 21, 2014
EU Includes 18 New Entries on Syria Sanctions List The Council of the European Union released Council Implementing Regulation (EU) No 1105/2014 to implement sanctions in view of the situation in Syria provided for in the 2012 regulation. Specifically, the council added 16 individuals and two entities to the list of designated persons.
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October 21, 2014
AUSTRAC Suspends Melbourne Company's Remittance License The Australian Transaction Reports and Analysis Centre suspended the registration of Melbourne-based money services business AVSForex Pty Ltd. after the company's director was convicted of money laundering.
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October 21, 2014
Since-retired OCC Director of BSA Compliance John Wagner outlines the core issues for bank examiners.
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On Oct. 2, the Asia/Pacific Group on Money Laundering (APG) warned member nations and financial institutions about the money laundering deficiencies of:
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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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SEC Takes Action Against Former Wells Fargo Advisors Compliance Officer for Altering Document The U.S. Securities and Exchange Commission issued an enforcement action against Judy K. Wolf, a former compliance officer of the St. Louis, MO brokerage firm, for allegedly altering a document before it was provided to the commission during an investigation.
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October 15, 2014
Finra Penalizes Former Employee of Wealth Management Firm for Failing to Report Suspicious Activity The Financial Industry Regulatory Authority imposed a monetary penalty against Javier Tellez for failing to implement Capital Guardian, LLC's anti-money laundering compliance program, which required the reporting of suspicious activities.
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October 10, 2014
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