TOP STORY

Sep

19

Danske Bank Alleges Former Staff Knowingly Assisted Money Launderers

Danske Bank CEO Thomas Borgen discloses the Danish lender’s financial results in Copenhagen on Thursday, Feb. 6, 2014. Borgen resigned Wednesday, Sept. 19, 2018 after internal auditors recommended criminal investigations against eight former employees of Danske Bank Estonia. (Getty Images)

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MORE NEWS

September 21 2018

European Money Laundering Scandals Prompt US Compliance Reviews: Sources

By : Valentina Pasquali

U.S. financial institutions are reviewing their transatlantic banking relationships amid a wave of financial crime scandals and record compliance-related penalties in Europe, sources told ACAMS moneylaundering.com.

September 21 2018

Weekly Roundup: EU Nations Criticize Bloc-wide AML Supervision Plan, UK Officials Investigate Shell Firms Tied to Danske Bank, and More

Credit rating agency downgrades outlook for Danske Bank, U.S. officials block U.N. sanctions-evasion report, and more, in this week’s roundup.

September 20 2018

Dutch FIU Assisting Municipal Authorities, Local Investigations

Recent months have seen the Dutch Financial Intelligence Unit increasingly bring its analytical capabilities to bear to advance local investigations in the Netherlands, Hennie Verbeek-Kusters, head of the agency since 2008 and chair of the Egmont Group of FIUs, said in a recent interview.

September 19 2018

Global AML Standards for Cryptocurrency Imminent: FATF President

By : Koos Couvée

The Financial Action Task Force expects to finalize and publish uniform anti-money laundering standards for cryptocurrencies next month amid suspicion that terrorist organizations may increasingly turn to digital assets to fund their operations, the group’s president said Wednesday.

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

FATF Releases MER of Saudi Arabia

The Financial Action Task Force released a mutual evaluation report on Saudi Arabia, concluding that the jurisdiction overall has developed a good sense of its money laundering and terrorist financing risks through national risk assessments. 
September 24 2018

OFAC Reminds Financial Institutions to File Annual Blocked Property Reports

The Office of Foreign Assets Control of the U.S. Treasury Department issued a reminder notice to financial institutions to file their annual reports on blocked property held as of June 30 of the current year. The reports are due by Sept. 30, 2018.
September 24 2018

State Department Officials Discusses President’s UN Agenda, Including Sanctions

September 24 2018

OSCE Hosts Human Trafficking Training

September 24 2018

FATF Updates Consolidated Assessment Ratings Chart

September 24 2018
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Enforcement Actions

Switzerland Enters Into Enforcement Proceedings with Credit Suisse for AML Deficiencies

The Swiss Financial Market Supervisory Authority initiated two enforcement procedures against Credit Suisse AG due to anti-money laundering deficiencies related to corruption involving three different entities and a politically exposed person.
September 17 2018

OFAC: Episilon Electronics Inc. to Pay $1.5 Million for Alleged Violations of Iran Sanctions Regulations

The Office of Foreign Assets Control of the U.S. Treasury Department issued the fine against the Montebello, CA-based company, which also does business as Power Acoustik Electronics, Sound Stream, Kole Audio and Precision Audio, for its alleged violation of the Iran sanctions regulations.
September 13 2018

SEC: United Technologies Corporation to Pay Over $13.9 Million for FCPA Violations

September 12 2018

SEC: Real Estate Broker Agrees to Disgorge $225,000 for FCPA Violations

September 6 2018

Netherlands: ING Bank N.V. Agrees to Pay €775 Million to Settle Serious AML Violations

September 4 2018