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Four Higher-Risk Countries Consider Global Register of Company Ownership: Sources One country considered high risk for money laundering and three medium-risk nations are negotiating to share company ownership records with the world’s first open access, cross-border database of corporate beneficiaries, say sources.
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April 27, 2017
Midweek Roundup: Philippine Bankers Tied to Bangladesh Bank Heist, Florida to Amend Money Laundering Law, and More Bitcoin exchanges struggling to clear U.S. dollars, EU officials make continued U.K. access to the single market access contingent on continued EU regulation, and more, in the midweek roundup.
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April 26, 2017
US Bill May Explicitly Require Banks to Investigate Human Trafficking A pair of U.S. senators introduced legislation Wednesday aimed at strengthening and expanding the role of financial institutions in fighting human trafficking.
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April 26, 2017
New York Bankers Prepare to Disclose Compliance Failures: Sources Compliance officers at several New York-chartered financial institutions are planning to use a small yet significant provision within the state’s new certification rule to limit their personal exposure to liability for anti-money laundering and sanctions-related violations.
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April 26, 2017
Weber
Sens. Rob Portman (R-OH) and Heidi Heitkamp (D-ND) introduced legislation Wednesday that would restrict the ability of federal agencies to issue regulations, as first reported by ACAMS moneylaundering.com in February. More and More
FIFA Compliance Committee Member Pleads Guilty to Corruption Charges The U.S. Justice announced that Richard Lai pleaded guilty to a criminal information charging him with two counts of wire fraud and one count of failing to disclose foreign bank accounts in connection to participating in a scheme to accept and pay bribes to soccer officials.
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April 27, 2017
OFAC Amends One FAQ on Counter Narcotics Sanctions The Office of Foreign Assets Control of the U.S. Treasury Department issued an updated frequently asked question regarding the general license for transactions involving SoHo Panama, S.A. pursuant to the Foreign Narcotics Kingpin Sanctions Regulations.
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April 27, 2017
DOJ: Singapore National Sentenced for Illegally Exporting Radio Frequency Modules to Iran The U.S. Justice Department announced that Lim Yong Nam was sentenced to 40 months in prison for his role in a conspiracy to illegally export thousands of radio frequency modules from the United States to Iran, 14 of which were later discovered in unexploded improvised explosive devices in Iraq.
Original | Brief
April 27, 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: AML Compliance Regulations in the Bardo?*

February 27, 2017

You could be forgiven for thinking—at least initially—that all the recent talk from the Clearing House about reframing U.S. anti-money laundering rules came from the same playbook as President Donald Trump’s promise to lay waste to federal supervision of the private sector.

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Central Bank of Ireland Fines Allied Irish Banks €2.275 Million for AML/CTF Compliance Failures The Central Bank of Ireland fined the Dublin, Ireland-based financial institution €2,275,000 for breaches of the Criminal Justice (Money Laundering & Terrorist Financing) Act, 2010.
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April 26, 2017
RBI Fines Dr. Panjabrao Deshmukh Urban Co-operative Bank Ltd. for KYC Failures The Reserve Bank of India issued a monetary penalty against the Amravati, India-based bank for failing to meet know-your-customer requirements pursuant to the Banking Regulation Act, 1949.
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April 26, 2017
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