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UK Officials Extend Beneficial Ownership Rules to Scottish Limited Partnerships Beneficial owners of a particularly opaque corporate structure described by critics as the United Kingdom’s “home-grown secrecy vehicle” must be identified from Monday onward under national rules designed to ensure compliance with EU anti-money laundering regulations.
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June 23, 2017
US Officials Target Money Laundering Ring Based in Cyprus Federal prosecutors in Massachusetts charged two Jordanian residents of Cyprus with running a money laundering scheme involving a bank account in Jordan, a wire transfer to an American lender and a forged invoice for medical equipment, court documents show.
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June 23, 2017
Organized Crime Groups Using Stolen Bank Details for International Travel: Europol Crime syndicates are using credit card records acquired from bank hackers to buy airline tickets for narcotics smugglers, human traffickers and other criminals, a senior Europol official told ACAMS moneylaundering.com.
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June 23, 2017
Weekly Roundup: Luxembourg Fines Swiss Bank for 1MDB Breaches, Atlanta Remitters Used to Launder Drug Profits, and More Fake online stores laundering international gambling transactions, Russian banks guaranteed rigged bids for Moscow state contracts, and more, in this week’s roundup.
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June 23, 2017
Greater
A U.S. civil complaint published Thursday details how hundreds of millions of dollars diverted from a Malaysian sovereign wealth fund were disguised and laundered through the global financial system. More
HMT Updates Advisory Notice on High-Risk Jurisdictions Following FATF Statements The United Kingdom's HM Treasury issued an updated advisory notice regarding jurisdictions with strategic deficiencies in their anti-money laundering and counterterrorist financing regimes following two statements published by the Financial Action Task Force on June 23, 2017.
Original | Brief
June 23, 2017
Combined Joint Task Force Announces Killing of Islamic State Financial Facilitator The Combined Joint Task Force announced that Fawaz Muhammad Jubayr al-Rawi has been killed in a coalition airstrike. They Syrian native was designated by the U.S. Treasury Department in December 2016 for moving millions of dollars for the Islamic State in Iraq and the Levant.
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June 23, 2017
FATF Announces Outcomes of June Plenary Meeting in Spain The Financial Action Task Force highlighted the activities and outcomes that came from its June 2017 plenary meeting in Valencia, Spain under the Spanish Presidency of Juan Manuel Vega-Serrano, including work to improve beneficial ownership transparency and combat terrorist financing.
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June 23, 2017
Test Your AML IQ
On Jan. 19, 2017, Western Union agreed to pay the U.S. Justice Department and federal regulators ________ to resolve charges that the institution violated anti-money laundering laws and failed to appropriately monitor 550,000 independent agents.
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From the Editor: In Praise of Transparency and US Inspectors General

June 16, 2017

Funding and staffing for the inspectors general in every federal agency is under attack, despite the invaluable oversight service they perform.

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Finra: Scottsdale Capital Advisors Corporation, Several Executives to Pay Over $1.6 Million for AML Failures The Financial Industry Regulatory Authority issued monetary penalties against the Scottsdale, AZ-based firm, the firm's chief compliance officer and its former president for anti-money laundering failures related to midcap securities. The firm's indirect owner was also banned.
Original | Brief
June 20, 2017
SFC Suspends Former Responsible Officer of Rifa Futures Limited for AML Violations The Securities and Futures Commission of Hong Kong issued a disciplinary action against Wu Biewi, the former responsible office and manager director of the Hong Kong-based financial institution for anti-money laundering violations.
Original | Brief
June 19, 2017
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