ACAMS Insights: free resources on topical issues

TOP STORY

Nov

EU’s Politically-Exposed-Persons List Represents Progress, Not Panacea

Greek MEP Eva Kaili, above, was arrested in Belgium on Friday, Dec. 9, 2022, as part of a corruption probe. The EU’s list of public offices prone to illicit finance will have a limited impact, analysts told ACAMS moneylaundering.com. (Alamy)

Legs & Regs

NCA: Three Individuals Convicted for Smuggling Illicit Cash to Dubai

The National Crime Agency announced that Samantha Horst, Craig Bramall, and Bridget Taylor were convicted of money laundering for their roles in a criminal network that smuggled more than £100 million from the U.K. to the United Arab Emirates.

December 1, 2023

OFAC Adds Three Entities, Three Vessels to SDN List

The Office of Foreign Assets Control of the U.S. Treasury Department published a notice concerning the addition of three entities and three vessels to the Specially Designated Nationals List with respect to Russia.

December 1, 2023

US Treasury Sanctions Violators of Russian Crude Oil Price Cap

The U.S. Treasury Department announced that the Office of Foreign Assets Control identified three vessels as blocked property and imposed sanctions on three entities for carrying Russian crude oil above the price agreed on by the Price Cap Coalition.

December 1, 2023

OFAC Authorizes Certain Safety, Environmental Transactions Involving New Sanctions Targets

The Office of Foreign Assets Control issued General License No. 78 under the Russian Harmful Foreign Activities Sanctions Regulations to authorize certain safety and environmental transactions involving specified blocked persons or vessels.

December 1, 2023

Financial Crime Matters: Senior FBI Officials Discuss Fraud

October 31, 2023

In the latest episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, talks with the FBI’s James Barnacle and Christopher Soyez about the agency’s fight against fraud and its efforts to recover stolen 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 Office of Foreign Assets Control in an advisory listed the following techniques used by Iranian ballistic missile procurement networks:

A. Obscuring the end user through transaction layering.
B. Falsifying documentation.
C. Financing schemes involving shell companies, state-owned entities and/or multiple bank accounts.
D. All of the above.

View all quizzes

More News

Weekly Roundup: US Treasury Warns VASPs, EU PEP List Gets Mixed Reviews, and More

U.S. House panel alleges that banker investigator's email implicates Hunter Biden, Senate subpoenas Harlan Crowe's records, and more, in the weekly roundup.

December 1, 2023

Britain Ramps up Campaign Against Money Laundering Through Trade

By Koos Couvée

Amid a growth in the volume and complexity of international commerce, U.K. officials are developing plans to exchange more information with the private sector and their international counterparts in a bid to clamp down on trade-based money laundering, or TBML.

December 1, 2023

Midweek Roundup: West Targets Hamas Finances, US Blacklists ‘Mixer,’ and More

Judge orders Binance founder to stay in U.S., U.K. betting firm fined £585 million, and more, in the midweek roundup.

November 29, 2023

US Banking Lobby Wants More Data Exchanges Under Patriot Act

By Fred Williams

A group of 20 U.S.-based banks will soon begin sharing details of suspicious customers and their transactions through an industry-led digital application set to launch next year, the head of the American Bankers Association, or ABA, said Tuesday.

November 28, 2023

Lithuania Penalizes Another Fintech Over AML Violations

By Koos Couvée

Lithuania's central bank imposed its second-largest financial penalty ever Friday, fining a local fintech €840,000 for anti-money laundering violations in an indication that regulators are not letting up on scrutiny of the country's burgeoning digital payments sector.

November 27, 2023

Enforcement Actions

HMRC Fines Three Companies for Breaching UK Export Controls

HM Revenue and Customs entered into settlements with three entities between August and November 2023, requiring them to pay a total of £77,090.30 for violations of the Russia (Sanctions) (EU Exit) Regulations 2019 and the Export Control Order 2008.

December 1, 2023

RBI Imposes Fine of ₹1.5 Lakh on Patliputra Central Cooperative Bank Ltd. for KYC Failures

The Reserve Bank of India imposed a monetary penalty on the Bihar, India-based bank for failure to comply with the regulator's know your customer requirements.

November 30, 2023