TOP STORY

Nov

8

EU Officials Censure Maltese Regulator, Cite Other Member States for AML Gaps

The sun sets on the harbor of Valleta, Malta on Saturday, December 6, 2014. EU authorities officially censured Maltese anti-money laundering regulators on Wednesday, November 7, 2018, and opened infringement cases against three other nations for failing to update their AML rules. (Alamy)

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The Office of Foreign Assets Control, part of the U.S. Treasury Department, updated its list of Specially Designated Nationals and Blocked Persons, which designates organizations and individuals who are restricted from doing business with the United States, American companies or Americans.
The Office of Foreign Assets Control released a cumulative list of changes made to the list of Specially Designated Nationals and Blocked Persons between Jan. 1, 2018 and Nov. 15, 2018.
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Enforcement Actions

South Africa's Prudential Authority imposed a fine of 15 million rand on HSBC Bank Plc's Johannesburg branch for certain weaknesses related to anti-money laundering and counterterrorist financing controls that resulted in violation of the Financial Intelligence Centre Act.
The U.S. Justice Department issued a joint memorandum under which MoneyGram International Inc. agrees to extend its 2012 deferred prosecution agreement for an additional 30 months and forfeit $125 million due to significant weaknesses in its anti-fraud and anti-money laundering program.