TOP STORY

Sep

27

IRS Must Make Better Use of CTRs, FinCEN Must Penalize Minor Infractions: Auditor

FinCEN Director Kenneth Blanco speaks at the ACAMS moneylaundering.com AML & Financial Crime Conference in Hollywood, FL on Monday, April 9, 2018. A federal auditor advised the bureau in a report this month to issue more penalties in response to minor Bank Secrecy Act violations.

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MORE NEWS

October 3 2018

Midweek Roundup: Trump Evaded New York State Taxes, Standard Chartered Faces $1.5 Billion Penalty for Sanctions Violations, and More

Julius Baer reviews hundreds of accounts linked to Venezuelan money laundering, HSBC teller disrupts massive corruption scheme in Angola, and more, in the midweek roundup.

October 3 2018

UK National Crime Agency Wins Asset-Seizure Test Case

By : Koos Couvée

The wife of a foreign banker jailed for fraud and embezzlement faces the prospect of having two residences worth a combined £22 million seized after the High Court in London threw out her challenge to the United Kingdom’s first unexplained wealth order, or UWO.

October 2 2018

In Campaign Against Prison Drug Trade, UK Officials Turn to Financial Intelligence

By : Koos Couvée

U.K. officials are set to launch a “specialist financial crime unit” to track and seize drug proceeds from prisoners as part of a broader government strategy to tackle a drug epidemic that has fueled unprecedented levels of violence behind bars, the Justice Ministry disclosed Tuesday.

October 1 2018

Hampered by Staff Shortages, IRS Deploys Data Analytics Against Financial Crime

The IRS in the past four years has used advanced analytics to cross-check financial data more quickly and effectively, including information gleaned from tax returns and suspicious activity reports.

From the Editor: The Return of the FISA Debate?

August 21 2018

Deja vu: the release of the FBI’s application for a warrant to spy on Carter Page, pictured on the left, has restarted the debate over the legitimacy of the FISA Court, once the subject of an ACAMS conference panel in 2009. (AP Images)

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Legs & Regs

Australian Regulator Publishes Latest Edition of Consolidated Sanctions List

Australia's Department of Foreign Affairs and Trade updated its Consolidated List that includes all persons and entities subject to financial sanctions under the Charter of the United Nations Act 1945 and the Autonomous Sanctions Act 2011.
October 3 2018

UK Court Dismisses Challenge to Unexplained Wealth Order

According to the judgement from the United Kingdom's Royal Courts of Justice, a challenge to the Unexplained Wealth Order targeting an unnamed politically exposed person from a non-European Economic Area has been dismissed.
October 3 2018

ICJ Orders United States to Remove Certain Sanctions Against Iran

October 3 2018

Japan FSA Hosts Cryptocurrency Roundtable

October 3 2018

FCA Publishes Report on ML/TF Risks in E-Money Sector

October 3 2018
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Enforcement Actions

RBI Fines Federal Bank Limited for AML/KYC Failures

The Reserve Bank of India issued a monetary penalty of 50 million rupees against the Kerala, India-based bank for its non-compliance with anti-money laundering and know-your-customer norms.
October 3 2018

UK’s FCA Fines Tesco Bank £16.4m for Cyber-Related Deficiencies

The United Kingdom's Financial Conduct Authority penalized the Edinburgh-based Tesco Personal Finance plc (Tesco Bank) for failing to protect its customers from a cyberattack that resulted in £2.26 million in losses. 
October 1 2018

SEC Fines Stryker Corporation $7.8 Million for FCPA Violations

September 28 2018

SEC: COR Clearing LLC to Pay $800,000 for SARs Failures

September 28 2018

SEC: Petróleo Brasileiro S.A. Agrees to Pay $1.787 Billion in Connection to Massive Bribery, Bid-Rigging Scheme

September 27 2018