ACAMS Insights: free resources on topical issues

TOP STORY

Sep

US Shutdown Would Impact FinCEN, Beneficial Ownership Implementation

FinCEN Director Andrea Gacki, center, speaks at the ACAMS conference in Hollywood, Florida, on Thursday, May 11, 2023. FinCEN would have to place the bulk of its full-time workforce on leave in the event of a U.S. government shutdown.

Legs & Regs

HMT Designates Russian Central Election Commission, 10 Individuals

HM Treasury’s Office of Financial Sanctions Implementation issued a notice concerning the addition of 10 individuals and one entity to the consolidated list pursuant to the Russia (Sanctions) (EU Exit) Regulations 2019.

September 29, 2023

UK Announces New Russia Sanctions Package in Response to Sham Elections

The U.K. Foreign, Commonwealth and Development Office announced a new round of sanctions targeting Russian Central Election Commission and 10 Russian officials involved in recent sham elections in the Ukrainian oblasts of Kherson, Zaporizhzhia, Donetsk, and Luhansk.

September 29, 2023

FinCEN Shares Revised, New FAQs Concerning BOIR Requirements

The Financial Crimes Enforcement Network issued revised and new frequently asked questions concerning the Beneficial Ownership Information Reporting Rule, which will enter into effect on Jan. 1, 2024.

September 29, 2023

FinCEN Publishes Small Entity Compliance Guide on BOI Reporting

The Financial Crimes Enforcement Network issued guidance for small entities to facilitate their compliance with the upcoming Beneficial Ownership Information Reporting Rule, which is set to take effect on Jan. 1, 2024.

September 29, 2023

Financial Crime Matters: Finance Professor Discusses Crypto, DeFi

September 7, 2023

In the latest episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, and Seoyoung Kim, an associate professor of finance at Santa Clara University, discuss the U.S. legal and regulatory tangle over digital assets.

Nathalia Dukhan and Naureen Chowdhury Fink Shed Light on Russia's Wagner Group

March 10, 2022

In this episode of Sanctions Space, Justine Walker of ACAMS, Nathalia Dukhan of The Sentry, and Naureen Chowdhury Fink of the Soufan Center, discuss the Wagner Group, a paramilitary organization created in Russia involved in global terrorism and stirring economic unrest.

The Assembly Las Vegas

DATE: 10/2/23 - 10/4/23

LOCATION: ARIA | Las Vegas, Nevada, United States

View Events Calendar

According to the Financial Action Task Force, money laundering risk indicators for the art and antiquities market include:

A. Sales or purchases of art that vastly exceed the expected sales value of the work.
B. Imported art declared to the relevant customs authorities.
C. Transactions paid via credit cards.
D. None of the above.

View all quizzes

More News

Weekly Roundup: Shutdown Looms Over FinCEN, US Regulators Fine South Korean Bank, and More

FinCEN scraps "unknown," FATF praises Luxembourg, and more, in the weekly roundup.

September 29, 2023

FinCEN, DFS and FDIC Jointly Penalize South Korean Bank

By Chelsea Carrick and Fred Williams

U.S. state and federal regulators fined a South Korean lender's subsidiary in New York $25 million Friday for repeatedly failing to address systemic anti-money laundering related weaknesses despite repeated warnings and previous enforcement actions.

September 29, 2023

FinCEN Scraps ‘Unknown’ from Beneficial Ownership Form

By Fred Williams

U.S. officials no longer plan to give companies the option of answering "unknown" when identifying their beneficial owners to the federal government pursuant to a requirement that comes into force next year.

September 28, 2023

Luxembourg Scores High, and Low, with FATF

By Gabriel Vedrenne

The Financial Action Task Force, or FATF, concluded Wednesday that Luxembourg, a global financial center and top destination for wealth management in Europe, has developed one of the most technically sound systems of rules against illicit finance of any country to date.

September 28, 2023

Money Laundering Reporting Failures Rarely Prosecuted in Britain

By Koos Couvée

U.K. authorities launched just 23 criminal prosecutions against employees of banks and other companies for failing to report suspicious activity in the decade to December 2021, the latest available government data shows.

September 28, 2023

Enforcement Actions

DOJ: Albemarle Corporation to Pay Over $196.7 Million for FCPA Violations

The U.S. Justice Department entered into Non-Prosecution Agreement with the Charlotte, NC-based specialty chemicals manufacturing company to resolve allegations of violations of the Foreign Corrupt Practices Act.

September 28, 2023

Malta Regulator Fines Alchemy Markets Limited €419,997 for AML/CTF Deficiencies

The Financial Intelligence Analysis Unit of Malta issued a €419,997 penalty and follow-up directive against the London, U.K.-based investment services provider for violations of the Prevention of Money Laundering and Funding of Terrorism Regulations.

September 29, 2023