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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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.
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.
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Enforcement Actions

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.
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.