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Western Union and Moneygram Seek to Screen Out Unscrupulous Agents The world’s two largest money services businesses are planning to exchange data on agents for whom they have either rejected or terminated services for failing to comply with anti-money laundering rules, an industry source told ACAMS moneylaundering.com.
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July 25, 2017
Ukraine’s Banking Reforms ‘Useless’ Without Judicial Reforms: Central Banker Over the past three-and-a-half years, Ukraine’s central bank has undertaken an ongoing, radical overhaul of the country’s deeply corrupt and dysfunctional financial system, and lawmakers passed measures to strengthen regulatory oversight and clamp down on fraud, capital flight and money laundering.
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July 24, 2017
Weekly Roundup: Trump’s Pre-Election Business Dealings Investigated, Illicit Online Markets Shuttered, and More New U.K. AML regulator on its way, Exxon challenges U.S. claim of sanctions violations, and more, in this week's roundup.
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July 21, 2017
EU ‘Passporting’ Reforms to Highlight AML Supervisory Gaps: Sources Plans to improve communication between national regulators on the compliance programs of financial institutions operating in one or more nations in the European Union will illuminate common shortcomings and help harmonize supervision throughout the bloc, say sources.
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July 21, 2017
NYBuilding
One57, a 75-story residential skyscraper in midtown Manhattan. A Nigerian businessman allegedly used a shell company to purchase a $50 million apartment in the building with proceeds from a corrupt oil deal. More
State Department Official Testifies on Expanding Efforts Against North Korea Susan Thornton, Acting Assistant Secretary of the Bureau of East Asian and Pacific Affairs at the U.S. State Department, testified before the Senate Foreign Relations Committee regarding U.S. efforts to pressure North Korea to give up its nuclear weapons program, including through sanctions.
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July 25, 2017
Heritage Foundation Senior Research Fellow Testifies on Expanding Pressure on North Korea Senior Research Fellow at the Heritage Foundation Bruce Klinger testified before the Senate Committee on Foreign Relations regarding the need for a comprehensive and sustained pressure strategy against North Korea to make it more difficult to fund its nuclear program.
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July 25, 2017
Non-Profit Director Testifies About North Korea Leon Sigal, the Director of the Northeast Asia Cooperative Security Project at the Social Science Research Council, testified in front of the Senate Foreign Relations Committee regarding the North Korean nuclear and missile issue.
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July 25, 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: Electronic Transaction Clearing, Inc. to Pay $250,000 for AML Failures The Financial Industry Regulatory Authority entered into a settlement agreement with the Los Angeles, CA-based clearing and self-clearing firm requiring it to pay the fine for allegations related to anti-money laundering deficiencies.
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July 24, 2017
OFAC Fines ExxonMobil Corporation $2 Million for Violating Ukraine-Related Sanctions The U.S. Treasury Department's Office of Foreign Assets Control issued a $2 million monetary penalty against the Irving, TX-based multinational oil and gas corporation for violating the Ukraine-Related Sanctions Regulations between May 14 and May 23, 2014.
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July 20, 2017
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