TOP STORY

Nov

23

US AML Reform Nears Congressional Approval

Sen. Mark Warner (D-VA) returning to the Senate floor on Monday, Jan. 27, 2020. Warner announced on Friday, Nov. 20, 2020, that portions of his AML reform legislation made it into the National Defense Authorization Act. (Getty Images)

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Legs & Regs

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Enforcement Actions

The Office of the Comptroller of the Currency fined the Columbus, Ohio-based financial institutions $250 million for weak controls and management of its fiduciary activities, including an insufficient audit program.
The Malta Financial Intelligence Unit issued an administrative penalty against the Ta'xbiex, Malta-based trustee and fiduciary services company for violations of the Prevention of Money Laundering and Funding of Terrorism Regulations.