TOP STORY

Oct

17

FinCEN Official Arrested, Accused of Leaking Thousands of SARs to Reporter

Russian developer Aras Agalorov, left, visits Kaliningrad Stadium in Russia on Tuesday, Aug. 1, 2017. A U.S. Treasury Department official arrested in Virginia on Tuesday, Oct. 16, 2018 has been charged with leaking SARs filed on Agalorov and other individuals. (TASS/Alamy Live News/Vitaly Nevar)

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MORE NEWS

October 22 2018

US Law Targeting Hezbollah May Increase Bank Due-Diligence Obligations

By : Valentina Pasquali

Legislation expected to take effect in the coming weeks may drastically expand the due-diligence and monitoring obligations U.S. financial institutions must apply to certain correspondent accounts based overseas, sources said.

October 19 2018

Weekly Roundup: Nordea Bank Denies Money Laundering Allegations, Santander Under Tax Investigation in Germany, and More

HSBC former executive convicted of money laundering, Egmont Group suspends El Salvador, and more, in this week’s roundup.

October 19 2018

UK Defenses Against Money Launderers Overwhelmingly Effective: FATF

By : Koos Couvée

The United Kingdom has the most effective controls against money laundering and other financial crime out of 60 countries assessed by an intergovernmental group since 2013, according to an advanced copy of a report obtained by ACAMS moneylaundering.com.

October 18 2018

UK Legal Decision Impacts Suspicious Activity Reporting: Sources

By : Koos Couvée

A High Court ruling to allow a NatWest client to review suspicious activity reports filed on him by the U.K. lender may compel compliance officers to reconsider how they disclose potentially illicit transactions to the government, sources told ACAMS moneylaundering.com.

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 22 2018

State Department Official Highlights Agency’s Efforts Against Corruption

Kirsten D. Madison, Assistant Secretary at the Bureau of International Narcotics and Law Enforcement Affairs of the U.S. State Department, issued remarks at the 18th International Anti-Corruption Conference in Copenhagen, Denmark.
October 22 2018

OSCE, UNODC Conduct CTF Training Course in Kazakhstan

October 22 2018

EU High Representative Welcomes Alignment with Ukraine Sanctions

October 22 2018

European Council Welcomes Alignment with Libya Sanctions

October 22 2018
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Enforcement Actions

Latvia FCMC Fines LPB Bank Over €2.2 Million for AML/CTF Breaches

The Board of the Financial and Capital Market Commission of Latvia issued a €2,205,282 penalty against Riga, Latvia-based financial institution for breaching anti-money laundering and counterterrorist financing regulations.
October 19 2018

UK Gambling Commission: Paddy Power Betfair to Pay Over £2.2 Million for AML Failures

The Gambling Commission of the United Kingdom issued an order requiring a £1,717,121 payment in lieu of a financial penalty from the Dublin, Ireland-based bookmaking business for failing to carry out anti-money laundering checks.
October 16 2018

NYSDFS: Mashreqbank PSC, New York Branch to Pay $40 Million for AML/BSA Violations

October 10 2018

OFAC Fines JPMorgan Chase Bank, N.A. $5,263,171 for Violations of Multiple Sanctions Programs

October 5 2018

RBI Fines Federal Bank Limited for AML/KYC Failures

October 3 2018