TOP STORY

Nov

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)

Legs & Regs

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.

December 2, 2020

OFAC Announces Changes Made to SDN List in 2020

The Office of Foreign Assets Control released a cumulative list of changes made to the list of Specially Designated Nationals and Blocked Persons between Jan. 1, 2020 and Dec. 2, 2020.

December 2, 2020

NCA Highlights Money Laundering Risks Faced by Independent Schools

The United Kingdom’s National Crime Agency announced that the National Economic Crime Centre and the Independent Schools Council jointly published an alert highlighting the money laundering risks faced by independent schools.

December 2, 2020

OFAC Adds One Individual, Removes Six Entries from Counter Narcotics Sanctions List

The Office of Foreign Assets Control of the U.S. Treasury Department notified financial institutions regarding the addition of one individual, the removal of six entries and the amendment of one entry on the Specially Designated Nationals List concerning counter narcotics.

December 2, 2020

Financial Crime Matters: The ICIJ’s Mike Hudson, Spencer Woodman and the FinCEN Files

November 23, 2020

In this episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, Mike Hudson, senior editor for the International Consortium of Investigative Journalists, and ICIJ reporter Spencer Woodman discuss the FinCEN Files.

According to the Asia/Pacific Group on Money Laundering, the use of virtual assets emerged as a money laundering trend in Singapore in 2020:

A. True.
B. False

View all quizzes

More News

German Officials Divided on AML Rules for Soccer, Other Professional Sports

By : Gabriel Vedrenne

German state officials are considering the merits of subjecting professional sports to anti-money laundering rules, but unlike their counterparts in Belgium, have thus far refrained from singling out soccer for more stringent oversight.

December 2, 2020

Midweek Roundup: Deutsche Bank Told to Quit Russia, Laundering Lawsuit Against Trump Associate Advances, and More

A pair of global lenders moved millions for accused fraudster, Pilatus Bank seeks damages from European Central Bank, and more, in the midweek roundup.

December 2, 2020

US Law Enforcement Targets Rise of Money Mules During Pandemic

By : Valentina Pasquali

Federal investigators targeted nearly four times as many alleged money mules in 2020 than they did last year as part of the third round of a multi-agency operation to hamstring efforts by overseas fraudsters to launder funds stolen from Americans.

December 2, 2020

Financial Institutions Prod FinCEN for Details, Flexibility in Push for ‘Effective’ AML

By : Valentina Pasquali

November 25, 2020

Weekly Roundup: Ex Goldman Banker Seeks Dismissal of 1MDB Charges, Canadian Exchange Handled Iranian Funds, and More

November 25, 2020

Enforcement Actions

OCC Fines JPMorgan Chase Bank, N.A. $250 Million for Internal Control Failures

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.

November 24, 2020

Malta FIU Issues €118,365 Penalty Against Credence Fiduciary Limited for AML Breaches

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.

November 23, 2020