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May

France Earns FATF’s Highest Efficacy Scores to Date, Surpassing Britain

Roman Abramovich’s $120 million Riviera mansion as photographed on Friday, April 13, 2001. France tops the list of nations with effective AML rules but luxury properties still draw funds of questionable origin into the country. (Getty Images)

Legs & Regs

FATF Releases Updated Consolidated Table of Assessment Ratings

The Financial Action Task Force published an updated table of ratings that reflect the extent to which a country’s anti-money laundering measures have been implemented and the effectiveness of such measures. The assessment table includes ratings on all countries evaluated under the 2013 methodology.

May 24, 2022

HM Treasury Publishes Updated Version of Asset Freeze Sanctions List

HM Treasury modified its Consolidated List of Financial Sanctions Targets in the United Kingdom, which contains the names of designated individuals and entities subject to international asset freezing and domestic sanctions under the Terrorist Asset-Freezing etc. Act 2010.

May 24, 2022

OFAC Adds 10 Entries to Terrorism Sanctions List

The Office of Foreign Assets Control of the U.S. Treasury Department issued a notice concerning the addition of four individuals and six companies to its Specially Designated Nationals List with respect to counterterrorism issues.

May 24, 2022

US Treasury Announces Sanctions Targeting Hamas Financiers, Network of Companies

The U.S. Treasury Department announced new sanctions targeting a Hamas finance official, three financial facilitators, and a network of six companies that have generated revenue for the terrorist group.

May 24, 2022

Financial Crime Matters: Latvia FIU Chief Discusses AML, Sanctions Against Russia

May 24, 2022

In this episode of Financial Crime Matters, Kieran Beer of ACAMS moneylaundering.com and Ilze Znotina, director of Latvia’s financial intelligence unit, discuss upgrades to the nation’s anti-money laundering framework, and the Baltic region’s implementation of sanctions against Russia.

Sanctions Space: Global Trade Analyst Discusses Russian Invasion, Indirect Consequences

March 10, 2022

In this episode of Sanctions Space, Justine Walker of ACAMS and Emily Rees of the European Centre for International Political Economy discuss the commercial impact of Russia's invasion of Ukraine.

ACAMS Europe Conference

DATE: 06/14/22

LOCATION: Brussels, Belgium

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Potential money laundering indicators involving non-fungible tokens include:

A. A network of sending and receiving parties to the same transaction or group of transactions.
B. Significant number of sales in a collection purchased from a mixer.
C. Clearly overpriced/underpriced NFT that is traded frequently in a short amount of time.
D. All of the above.

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More News

Germany, Netherlands Prioritize Sanctions Enforcement

By : Koos Couvée

German and Dutch officials have outlined plans to strengthen their respective implementation and enforcement of EU sanctions amid Russia's full-scale invasion of Ukraine.

May 24, 2022

Financial Crime Matters: Latvia FIU Chief Discusses AML, Sanctions Against Russia

By : Kieran Beer

In this episode of Financial Crime Matters, Kieran Beer of ACAMS moneylaundering.com and Ilze Znotina, director of Latvia’s financial intelligence unit, discuss upgrades to the nation's anti-money laundering framework, and the Baltic region's implementation of sanctions against Russia.

May 24, 2022

‘Continuing Activity’ SAR Failures Cost Wells Fargo Securities Branch

By : Colby Adams

Wells Fargo's trading division in St. Louis "willfully violated" U.S. regulations by not reporting potentially illicit transactions by deadline on at least 50 occasions after retooling its anti-money laundering program 10 years ago, the Securities and Exchange Commission announced Friday.

May 20, 2022

Weekly Roundup: US Official Threatens Secondary Sanctions, SEC Tags Wells Fargo, and More

May 20, 2022

Midweek Roundup: BitMex Founder Faces Prison, FATF Praises France, and More

May 18, 2022

NICE Actimize. Focus on the Truly Suspicious - Put High-Risk Alerts First. Get the infographic” style=

Enforcement Actions

CFTC Orders Glencore to Pay Nearly $1.2 Billion for Foreign Corruption, Oil Market Manipulation

The Commodity Futures Trading Commission issued an order against three affiliates of the Barr, Switzerland-based energy and commodities trading firm for deceptive conduct that spanned from at least 2007 to 2018, including manipulation and foreign corruption in the U.S. and global oil markets.

May 24, 2022

FTC Settles Credit Card Laundering Accusations Against Two Companies, Owners

The Federal Trade Commission finalized a settlement order against Electronic Payment Systems LLC, Electronic Payment Transfer LLC, John Dorsey, and Thomas McCann, for their alleged roles in opening credit card processing merchant accounts on behalf of shell companies.

May 24, 2022