TOP STORY

Jul

Deutsche Bank’s Ties to Epstein, Danske Bank and Others Draw $150 Million Penalty

Sex offender Jeffrey Epstein and Ghislaine Maxwell attend a concert in New York on Saturday, March 15, 2005. On Tuesday, July 7, 2020, New York regulators fined Deutsche Bank $150 million for a range of compliance failures, many of which stemmed from the lender’s ties to Epstein. (Getty Images)

Legs & Regs

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.

July 10, 2020

OFAC Publishes Latest Edition of SDN List

The Office of Foreign Assets Control, part of the U.S. Treasury Department, updated its list of Specially Designated Nationals and Blocked Persons, which designates organizations and individuals who are restricted from doing business with the United States, American companies or Americans.

July 10, 2020

OFAC Announces Changes Made to SDN List in 2020

The Office of Foreign Assets Control released a cumulative list of changes made to the list of Specially Designated Nationals and Blocked Persons between Jan. 1, 2020 and July 10, 2020.

July 10, 2020

HMT Removes Entry to Correct North Korea Sanctions List

HM Treasury’s Office of Financial Sanctions Implementation issued a notice concerning a correction for the North Korea sanctions regime that removed one individual from the consolidated list.

July 10, 2020

Financial Crime Matters: Michael Sachs Discusses Cryptocurrencies, Cybercrime

May 19, 2020

In the latest episode of “Financial Crime Matters,” Kieran Beer, editor in chief of ACAMS moneylaundering.com, and Michael Sachs, a former executive assistant district attorney at the Manhattan District Attorney’s Office, discuss investigating and prosecuting cybercrime.

On April 8, 2020, the Financial Action Task Force of Latin America, GAFILAT, warned the public regarding the following emerging risks associated with COVID-19:

A. Ponzi schemes that seek to take advantage of economic fears and loss of jobs.
B. Criminals seeking to recruit people experiencing financial distress to launder funds and commit other crimes.
C. Schemes involving fake loans or other financial assistance programs seeking to steal personal data.
D. All of the above.

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More News

With US Sanctions Evasion Case, UAE Potentially Signals New Era of Cooperation

By : Daniel Bethencourt

Recent developments in a federal case in Alaska may indicate a new willingness from the United Arab Emirates to help advance overseas money-laundering investigations following a subpar evaluation of its controls against financial crime, sources told ACAMS moneylaundering.com.

July 10, 2020

Weekly Roundup: Wirecard Now Target of German, Irish and US Investigations, Bahrain Fines Future Bank, and More

Swiss private lender failed to scrutinize $100 million transfer from Saudi Arabia to Spanish royal, Dutch court may terminate ING's AML settlement, and more, in this week's roundup.

July 10, 2020

Islamic State Used Czech Banks to Buy Drones

By : Gabriel Vedrenne

Four companies served by banks in the Czech Republic helped form a complex financial chain and corporate front that the globally blacklisted Islamic State group used to acquire unmanned aerial vehicles, more commonly known as drones, from suppliers in East Asia.

July 9, 2020

US Prosecutors Deploy Extraterritorial Measures Against North Korean Sanctions Evasion

By : Valentina Pasquali

July 8, 2020

Midweek Roundup: New York Penalizes Deutsche Bank, FinCEN Releases COVID-19 Guidance, and More

July 8, 2020

Enforcement Actions

Finra Fines Morgan Stanley Smith Barney, LLC $875,000 for Blue Sheet Deficiencies

The Financial Industry Regulatory Authority issued a $875,000 fine against the Purchase, NY-based company based on its failure to submit accurate blue sheets on suspicious transactions.

July 9, 2020

OFAC: Amazon.com, Inc. to Pay $134,523 to Settle Potential Sanctions Violations

The Office of Foreign Assets Control of the U.S. Treasury Department entered into an agreement with the Seattle, WA-based retailer and e-commerce company to settle potential civil liability of apparent violations of the Crimea, Iran and Syria sanctions programs.

July 8, 2020