TOP STORY

Feb

13

European Union Unveils AML Blacklist, US Officials Instruct Banks to Ignore It

EU Justice Commissioner Vera Jourova talks to reporters in Brussels, Belgium on Thursday, Sept. 20, 2018. On Wednesday, Feb. 13, 2019, Jourova said EU nations have at least one month to approve a new blacklist of nations with weak controls against money launderers. (AP Photo).

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MORE NEWS

February 15 2019

Weekly Roundup: Money Launderer Argues to Keep Cash Stolen from Irish Bank, ‘El Chapo’ Trial Reveals Sinaloa Cartel Laundering Scheme, and More

U.K. financier accuses House of Lords members of stifling enforcement of sanctions against Russia, U.S. lawmakers propose new sanctions against Russian banks, and more, in the weekly roundup.

February 15 2019

Cognizant Compliance Chief and CEO Arranged, Disguised $2 Million Bribe: Prosecutors

By : Daniel Bethencourt

New Jersey federal prosecutors accused former senior employees of Cognizant Technology Solutions, a global software firm based in Teaneck, of directing a contractor to bribe government officials in India on their behalf and using false invoices to cloak the payment.

February 13 2019

Despite AML Upgrades, FATF Places Lithuania Under Enhanced Monitoring

By : Koos Couvée

Lithuanian authorities and financial institutions must target corruption, organized crime and the risks posed by their country’s sizeable cash economy to clamp down on money laundering and other forms of illicit finance, an intergovernmental group has warned.

February 13 2019

Czech AML Regime Still Porous: Moneyval

By : Gabriel Vedrenne

The Czech Republic has upgraded its campaign against financial crime through legislation and more prosecutions in recent years, but the country’s financial regulators have failed to deter anti-money laundering violations, according to an international assessment.

From the Editor: Compliance Officers Still Routinely Ignored

January 30 2019

Jho Low, right, attending the Grammy Awards in Los Angeles, California on Monday, Jan. 26, 2014. “Billion Dollar Whale,” a book covering the 1MDB scandal, describes how Low, now a fugitive, relied on global banks to launder billions of dollars stolen from Malaysia’s sovereign wealth fund.

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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.
February 18 2019

EU Adds One Individual to Al-Qaida, Islamic State Sanctions List

The European Union issued Council Implementing Regulation (EU) 2019/270, regarding the addition of one individual are the sanctions list pursuant to Regulation (EU) 2016/1686 and with respect to al-Qaida and the Islamic State of Iraq and the Levant.
February 18 2019

NCA: Individual Convicted for Laundering Over £6 Million

February 18 2019

HM Treasury Renews Three Terrorism Sanctions Entries

February 18 2019

HM Treasury Adds Individual to Al-Qaida, Islamic State Sanctions List

February 18 2019
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Enforcement Actions

SEC Orders Cognizant Technology Solutions Corporation to Pay Over $25.1 Million for FCPA Violations

The U.S. Securities and Exchange Commission issued a cease and desist order against the Teaneck, NJ-based corporation requiring it to pay $25,167,368, including a penalty, disgorgement and prejudgment interest, to settle charges that it violated the Foreign Corrupt Practices Act.
February 15 2019

OFAC Fines AppliChem GmbH $5,512,564 for Cuba Sanctions Violations

The Office of Foreign Assets Control of the U.S. Treasury Department and the Darmstadt, Germany-based chemical manufacturer agreed to settle potential liability for alleged violations of the Cuban Assets Control Regulations related to the sale of chemical reagents to Cuba on 304 occasions.
February 14 2019

RBI Fines HDFC Bank Limited for KYC/AML Failures

February 12 2019

RBI Fines IDBI Bank Limited for Failing to Meet AML/KYC Standards

February 12 2019

RBI: Kotak Mahindra Bank Limited to Pay 2 Million Rupees for AML/KYC Failures

February 12 2019