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Midweek Roundup: Bank of China Settles Criminal Case in Italy, US Lawmakers Call for More Sanctions Against Iran, and More HSBC disclosed that its U.S. court-appointed monitor has voiced “significant concerns” about its AML efforts, Italian authorities fined Bank of China for money laundering violations, and more, in the midweek roundup.
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February 22, 2017
UK Lawmakers Advance ‘Magnitsky’ Sanctions Plan The House of Commons on Tuesday unanimously backed new powers for investigators to seize property and other domestic assets from blacklisted human rights abusers anywhere in the world, putting the United Kingdom on course to become the third country to adopt such a measure.
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February 22, 2017
EU Parliamentary Panel Rejects Maltese Official’s Denial of Money Laundering The only serving EU minister named in records leaked from Panamanian law firm Mossack Fonseca failed Tuesday to clear himself from allegations of money laundering during a grilling by a panel of European lawmakers in Malta.
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February 22, 2017
FATF May Revise Counterproliferation Standards: Sources Financial Action Task Force delegates in a series of closed-door sessions beginning this weekend will consider recommending additional measures to choke off the flow of funds to illegal nuclear, chemical and biological weapons programs, say sources.
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February 17, 2017
TreasuryDept
The Clearing House Payments Company wants the U.S. Treasury Department's Financial Crimes Enforcement Network to "reclaim" sole supervision over global financial institutions for anti-money laundering, counterterrorist financing purposes. More
FinCEN Renews Real Estate GTO Orders for Six Metropolitan Areas The Financial Crimes Enforcement Network issued a press release announcing the renewal of Geographic Targeting Orders that temporarily require U.S. title insurance companies to identify the natural persons behind shell companies used for certain cash-based real estate transactions.
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February 23, 2017
HM Treasury Renews Three Terrorism, Terrorist Financing Designations HM Treasury's Office of Financial Sanctions Implementation notified financial institutions concerning the renewal of three designations under the Terrorist Asset-Freezing etc. Act 2010.
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February 23, 2017
HM Treasury Publishes Updated Version of Asset Freeze Sanctions List HM Treasury modified its Consolidated List of Financial Sanctions Targets in the United Kingdom, which contains the names of designated individuals and entities subject to international asset freezing and domestic sanctions under the Terrorist Asset-Freezing etc. Act 2010.
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February 23, 2017
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From the Editor: Rise of the Compliance Bots?

January 30, 2016

Several dystopian novels describe a future in which homo sapiens become enslaved or extinct because of the rise of robots and computers. While current buzz in the compliance world doesn’t include speculation on our extinction, there is lots of talk about the rise of "regtech."

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PRA Fines Bank of Tokyo Mitsubishi UFJ Limited, Subsidiary Over £26 Million for Reporting Failures The United Kingdom's Prudential Regulatory Authority issued a final notice imposing a £17.85 million financial penalty on the Bank of Tokyo Mitsubishi UFJ Limited and a separate £8.925 million penalty on MUFG Securities EMEA plc for failing to disclose information and cooperate with the regulator.
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February 9, 2017
Finra Fines Former Pennaluna & Company Representative $10,000 for AML Failures The Financial Industry Regulatory Authority issued a monetary penalty against Ronald B. Nicklas, Jr., a former general securities representative for the Coeur d'Alene, ID-based firm for failing to implement to an anti-money laundering program designed to detect suspicious activities.
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February 6, 2017
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