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 19 2019

Danske Bank ‘Acted Rudely,’ Must Leave Estonia Over AML Violations

By : Koos Couvée

Estonia took the rare step Tuesday of shuttering the local affiliate of a foreign lender, ordering Danske Bank to close in response to “profound and material” violations of anti-money laundering rules that “seriously damaged” the Baltic nation.

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.

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 20 2019

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.
February 20 2019

OFAC Announces Changes Made to SDN List in 2019

February 20 2019

OSFI Adds One Entry, Amends Two Entries on Entities Sanctions List

February 20 2019

Transparency International Welcomes EBA Investigation into Danish, Estonian Supervision of Danske Bank

February 20 2019
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Enforcement Actions

HK SFC Orders Guosen Securities (HK) Brokerage Company, Limited to Pay HK$15.2 Million for AML Violations

The Hong Kong Securities and Futures Commission has reprimanded and levied a fine of HK$15.2 million on the Hong Kong chapter of the Guosen Securities Brokerage Company, Limited for violating anti-money laundering and counterterrorist financing regulations.
February 18 2019

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

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