TOP STORY

Oct

14

Estonia Intensifies Cryptocurrency Crackdown

Estonia has revoked the operating licenses of hundreds of cryptocurrency exchanges over the past two years and plans to continue the crackdown in the months ahead, the head of the country’s FIU told ACAMS moneylaundering.com. (Getty Images)

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Legs & Regs

NCA: Individual Arrested in Canary Islands for ML, Drug Crimes

The United Kingdom’s National Crime Agency announced that Gary Vickery has been arrested in the Canary Islands after previously admitting to having a leading role in a conspiracy to import drugs and launder funds.

October 21, 2021

FATF Maintains February 2020 Statement on High Risk Jurisdictions

The Financial Action Task Force issued its statement calling on all members and jurisdictions to apply enhanced due diligence with respect to high risk jurisdictions with significant strategic deficiencies in their anti-money laundering and counterterrorist financing frameworks.

October 21, 2021

FATF Adds Turkey, Two Other Countries to Gray List

The Financial Action Task Force published a public statement on its list of jurisdictions under increased monitoring that are actively working to address strategic deficiencies in their anti-money laundering and counterterrorist financing regimes, commonly referred to as the “gray list.”

October 21, 2021

FATF Statement on Pandora Papers Outlines Need for Further Action on Transparency of Beneficial Ownerships

The Financial Action Task Force issued a public statement concerning the Pandora Papers, which revealed the persistent dangers associated with networks of anonymous shell companies and legal arrangements.

October 21, 2021

Financial Crime Matters: Former Canadian Intelligence Official Dives Deep into Terror Finance

October 14, 2021

In this episode of Financial Crime Matters, Kieran Beer of ACAMS moneylaundering.com and Jessica Davis, a former senior strategic analyst for the Canadian Security Intelligence Service, discuss her recently released book, “Illicit Money: Financing Terrorism in the 21st Century.”

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More News

Sweden Censures Danske Bank for Risk Assessment Failures

By : Koos Couvée

Sweden's Financial Supervisory Authority on Wednesday ordered the local subsidiary of Danske Bank to address significant deficiencies in its understanding of the financial-crime risks it faces by June 2022 to avoid an enforcement action.
October 20, 2021

Midweek Roundup: Credit Suisse Triggers US and UK Penalties, FBI Raids Russian Oligarch’s Residences, and More

Sweden dings Danske Bank, U.S. officials complete sanctions review, and more, in the midweek roundup.
October 20, 2021

Senate Democrats Dismiss Treasury’s Sanctions Review as Missed Opportunity

By : Valentina Pasquali

The Treasury Department's six-month review of U.S. sanctions programs, asset freezes, prohibitions on correspondent services and other financial restrictions are narrow in scope and lacking in depth, Democratic lawmakers said Tuesday.
October 19, 2021

Credit Suisse Pays $475 Million for Mozambique Compliance Collapse

By : Daniel Bethencourt

October 19, 2021

Treasury Finishes 6 Month Review of US Sanctions Efforts

By : Valentina Pasquali

October 18, 2021
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Enforcement Actions

SEC: Credit Suisse Group AG Must Pay Over $99 Million for FCPA Violations

The U.S. Securities and Exchange Commission issued an order requiring the Zurich, Switzerland-based multinational investment bank and financial services company to pay a fine, disgorgement and prejudgment interest totaling $99,051,872 for violations of the Foreign Corrupt Practices Act.
October 19, 2021

SEC: VTB Capital Plc Must Pay Over $6.4 Million for Violating Anti-Fraud Provisions

The U.S. Securities and Exchange Commission issued an order requiring the London-based subsidiary of a Russian financial institution to pay a fine, disgorgement and prejudgment interest totaling $6,429,883.94 for violating the anti-fraud provisions of federal securities laws.
October 19, 2021

FCA Fines Credit Suisse £147,190,200 for Inadequate Financial Crime Risk Controls

October 19, 2021

DOJ: Credit Suisse Group AG Agrees to Pay $175.5 Million Under DPA

October 19, 2021

Financial Supervisory Authority Orders Swedish Subsidiary of Danske Bank A/S to Address AML/CTF Deficiencies

October 19, 2021