ACAMS Insights: free resources on topical issues

TOP STORY

Jan

Former Swedbank Chief Acquitted Over AML Disclosures

On Wednesday, January 25, 2023, a Swedish court cleared Swedbank’s former chief executive Birgitte Bonnesen of charges that she deliberately misled investors about the extent of the lender’s anti-money laundering failures in the Baltics. (Sofi Eriksson, News Øresund)

Legs & Regs

EU Prolongs Financial Sanctions Against Russia by Six Months

The Council of the European Union issued a press release on its decision to extend the economic sanctions targeting specific sectors of the Russian economy in light of the country’s ongoing war against Ukraine.

January 27, 2023

FinCEN Seeks Feedback on Renewed Measure Concerning North Korea

The Financial Crimes Enforcement Network published a notice in the Federal Register seeking information relating to a special measure with respect to North Korea.

January 27, 2023

UK Agencies Update Somalia Sanctions Guidance

HM Treasury’s Office of Financial Sanctions Implementation and other agencies updated statutory guidance that aims to ensure compliance with the the Somalia (Sanctions) (EU Exit) Regulations 2020.

January 27, 2023

Federal Judge Sentences Two Participants of ML, Fraud Scheme

The U.S. Justice Department announced that two additional defendants were sentenced for participating in a fake sweepstakes scheme that defrauded elderly Americans.

January 27, 2023

Financial Crime Matters: Financial Institutions and the Fight Against Online Sexual Abuse of Children

January 26, 2023

In this episode of Financial Crime Matters, Kieran Beer of moneylaundering.com, Tiffany Polyak of ACAMS and Jonathan Dupont of Western Union, discuss how the financial services industry can help combat sexual abuse of children by online predators.

Sanctions Space: Global Trade Analyst Discusses Russian Invasion, Indirect Consequences

March 10, 2022

In this episode of Sanctions Space, Justine Walker of ACAMS and Emily Rees of the European Centre for International Political Economy discuss the commercial impact of Russia's invasion of Ukraine.

According to the Financial Crimes Enforcement Network, Bank Secrecy Act reports filed between March 2022 and Oct. 2022 involving Russian oligarchs listed the following suspicious activities:

A. Transactional patterns associated with corruption and sanctions evasion.
B. The purchase of high-value goods or real estate.
C. Changes in financial flows linked to property or companies.
D. All of the above.

View all quizzes

More News

Weekly Roundup: US Blacklists Wagner, Binance Loses US Banking Partner, and More

Germany tackles STR backlog, FinCEN raises alarm over commercial real estate, and more, in the weekly roundup.

January 27, 2023

With Russia, FinCEN Sees US Commercial Properties as Sanctions Vulnerability

By : Benjamin Hardy

Blacklisted "Russian elites and their proxies" can easily plow funds into U.S. commercial real estate because the underlying transactions routinely involve complex financial arrangements and several layers of ownership, U.S. Treasury's Financial Crimes Enforcement Network has warned.

January 26, 2023

Amid Deep Skepticism, German Officials Claim Success Against STR Backlog

By : Gabriel Vedrenne

Germany's financial intelligence unit has whittled down most of the country's latest embarrassing backlog of tens of thousands of unreviewed suspicious transaction reports since December, when the full extent of the problem came to light.

January 26, 2023

Financial Crime Matters: Financial Institutions and the Fight Against Online Sexual Abuse of Children

By : Kieran Beer

January 26, 2023

Midweek Roundup: Former Swedbank Chief Acquitted, Senior FBI Official Secretly Aided Deripaska, and More

Two businessmen charged with hiding yacht's links to blacklisted oligarch, U.S. regulator fines Popular Bank, and more, in the weekly roundup.

January 25, 2023

Enforcement Actions

Finland Regulator Withdraws Registration of Nada Express osk for Persistent AML Violations

The Finnish Financial Supervisory Authority decided to withdraw the registration of the Helsinki, Finland-based money remittance service provider for failing to rectify anti-money laundering and counterterrorist financing shortcomings.

January 27, 2023

Finra Imposes $100,000 Fine on Herbert J. Sims & Co. Inc. for AML, Cyber-Reporting Failures

The Financial Industry Regulatory Authority fined the Connecticut-based brokerage firm $100,000 for implementation failures relating to the Bank Secrecy Act.

January 27, 2023