TOP STORY

May

18

UK Compliance Officers Investigated for Suspected Due-Diligence Violations: Sources

The Financial Conduct Authority’s headquarters in London (Photo by Alamy). The regulator has launched investigations into several compliance officers suspected of failing to conduct enhanced due diligence on high-risk customers, sources told ACAMS moneylaundering.com.

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ADDITIONAL STORIES

May 18 2018

European Financial Intelligence Chiefs Seek More Interbank Wire-Transfer Data

By : Koos Couvée

The heads of France, Belgium and Europol’s financial intelligence units in a hearing Thursday renewed calls for the European Union to develop its own bloc-wide system to scan payment instructions for signs of terrorist financing.

May 18 2018

Weekly Roundup: FinCEN Outlines SAR-Restriction Policy, US Sanctions Against Iran May Target Swift Messages, and More

U.S. Treasury Department targets Hezbollah, world’s largest shipping firm plans to sever ties with Iran, and more, in this week’s roundup.

May 17 2018

Fraudsters Opening Multiple Accounts With Same Stolen Credentials: Sources

By : Valentina Pasquali

Criminals are exploiting a common anti-money laundering compliance loophole involving accounts held under the same name to funnel the proceeds of fraud and other illicit activity through the U.S. financial system, say sources.

May 17 2018

EU Chiefs Adopt Plan to Shield European Firms from US Sanctions Against Iran

By : Koos Couvée

EU leaders unanimously approved a proposal to “block” U.S. sanctions against European firms trading with Iran, officials announced Thursday.

From the Editor: Regulatory Oversight Can Save Cryptocurrency from the ‘Dark Side’

March 9 2018

Cryptocurrencies and the blockchain protocol have promised to provide inexpensive, secure and transparent ways to move funds. But they presently carry more problems and negative news than promise.

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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.
May 18 2018

FATF Releases Updated Consolidated Table of Assessment Ratings

The Financial Action Task Force published an updated table of ratings that reflect the extent to which a country's anti-money laundering measures have been implemented and the effectiveness of such measures. The assessment table includes ratings on all countries evaluated under the 2013 methodology.
May 18 2018

OFAC Publishes Latest Edition of SDN List

May 18 2018

OFAC Announces Changes Made to SDN List in 2018

May 18 2018

EU Amends Four Entries on Al-Qaida, Islamic State Sanctions List

May 18 2018
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Enforcement Actions

DOJ: Rabobank National Association to Pay Over $369 Million for Concealing AML Deficiencies

The U.S. Justice Department announced that a Southern District of California judge sentenced the Roseville, CA-based subsidiary of Netherlands-based Coöperatieve Rabobank U.A. to pay a fine of $500,00 and forfeit $368,701,359 for anti-money laundering violations.
May 18 2018

SEC Orders Chardan Capital Markets, LLC to Pay $1 Million for AML Violations

The U.S. Securities and Exchange Commission issued an order requiring the New York, NY-based firm to pay a $1 million penalty for anti-money laundering deficiencies, which resulted in the failure to file suspicious activity reports concerning the suspicious sale of billions of penny stock shares.
May 16 2018

SEC Orders Industrial and Commercial Bank of China Financial Services, LLC to Pay $860,000 Fine for SARs Failures

May 16 2018

SEC: Former CCO of Chardan Capital Markets, LLC Fined $15,000 for AML Failures

May 16 2018

RBI Fines The Mahsana Urban Co-operative Bank Limited for KYC/AML Failures

May 14 2018