Dutch Bank ‘Swaps Jobs’ with Law Enforcement, Others Appear Reluctant

ABN Amro’s branch in Amsterdam is pictured in this photo by Alamy. Compliance officers for the Netherlands’ third-largest lender temporarily swapped jobs with Dutch investigators ahead of an international evaluation of the country’s controls against financial crime.



The Australian Transaction Reports and Analysis Center announced the winners of the inaugural ASEAN-Australia Codeathon, a 32-hour event the brought together more than 100 technology specialists from 10 nations to tackle problems related to terrorist financing, money laundering and cyber threats.
The Australian Department of Human Service announced that more than 1,000 welfare recipients have been ordered to repay AU$43.4 million following a joint investigation with support from the Australian Transaction Reports Analysis Centre into large amounts of unexplained wealth.

Enforcement Actions

The Board of Governors of the Federal Reserve System issued a cease and desist order against the Beijing, China-based bank and its New York, NY branch requiring it to maintain Bank Secrecy Act and anti-money laundering compliance.
The U.S. Justice Department entered into a deferred prosecution agreement with the Fulton, Maryland-based nuclear material transportation company requiring it to pay a $2 million criminal penalty to resolve Foreign Corrupt Practices Act violations.