ACAMS Insights: free resources on topical issues

TOP STORY

Nov

Remote Banking, Drive Towards Automation Exposing Elderly Clients to Fraud

FinCEN Acting Director Himamauli Das, left, speaks to moneylaundering.com editor-in-chief Kieran Beer, right, at the ACAMS Las Vegas Conference on Wednesday, Oct. 12, 2022, four months after the bureau reported a spike in fraud schemes against the elderly.

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.

December 2, 2022

OFAC Adds Two Individuals to SDN List

The Office of Foreign Assets Control of the U.S. Treasury Department published a notice providing details on the addition of two individuals to the Specially Designated Nationals List with respect to counter narcotics issues.

December 2, 2022

US Sanctions Two Haitian Politicians for Drug Trafficking

The U.S. Treasury Department announced that Rony Celestin and Richard Lenine Hervé Fourcand were designated by the Office of Foreign Assets Control pursuant to Executive Order 14059 for contributing to Haiti’s corruption and drug trade.

December 2, 2022

Executive Board of ECB Adopts Data Sharing Rule

The Executive Board of the European Central Bank adopted Decision (EU) 2022/2359 which implements internal rules concerning consumer data privacy rights.

December 2, 2022

Financial Crime Matters: How the “Lucky Country” Became the “Lucky Laundry”

November 3, 2022

In this episode of Financial Crime Matters, Kieran Beer of ACAMS moneylaundering.com and Nathan Lynch, author of “The Lucky Laundry,” discuss how criminals have exploited legal loopholes in Australia to launder billions.

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.

International Anti-Corruption Conference 2022: Uprooting Corruption, Defending Democratic Values

DATE: 12/6/22 - 12/11/22

LOCATION: Washington, D.C., United States

View Events Calendar

According to the Wolfberg Group, what types of correspondent banking relationships should be avoided?

A. Shell banks.
B. Money services businesses with robust compliance programs.
C. Banks that do business with politically exposed persons.
D. All of the above.

View all quizzes

More News

Weekly Roundup: EU Lawmakers Pivot After Beneficial Ownership Ruling, US Officials Weigh Terrorist Designation Against Russia’s Wagner, and More

Opponent who led court challenge against public beneficial ownership owned offshore legal entities, Emirati authorities resist U.S. attempt to seize Russian yacht, and more, in the weekly roundup.

December 2, 2022

AML Penalties, Human Trafficking Reports Spike in Canada

By : Fred Williams

Fines assessed by the Financial Transactions and Reports Analysis Centre of Canada from April 2021 through March 2022 more than tripled the combined value of those levied during the previous 12 months.

December 2, 2022

EU Parliamentary Group Wants Key Pillar of AML Reform Restored: Broad Access to Ownership Data

By : Koos Couvée

A coalition of European lawmakers are exploring ways to safeguard broad access to beneficial ownership information after the EU's top court struck down the public's right to review national databases showing the true owners of legal entities without restriction.

December 2, 2022

Lacking Disciplinary Power, Danish Regulator Targets Bank Through Other Means

By : Gabriel Vedrenne

Some problems can only be solved by the police. Just ask Denmark's Financial Supervisory Authority, which recommended a criminal investigation Monday into Jyske Bank, the country's third-largest lender, after discovering "significant" gaps in the company's defenses against financial crime.

December 1, 2022

Midweek Roundup: DOJ’s Russia Task Force Switches Targets, Britain Fines Julius Baer, and More

OFAC fines Kraken, British court orders cryptocurrency exchanges to share data linked to stolen funds, and more, in the midweek roundup.

November 30, 2022

ACAMS AFC Bulletin: Suspicious Activity Reports

Enforcement Actions

FCA Fines Julius Baer International Limited Over £18 Million for Integrity Failures

The Financial Conduct Authority imposed a £18,022,500 financial penalty on the London-based firm for activities that demonstrated a lack of integrity, including failing to take reasonable care to organize and control its affairs with respect to potential acts of bribery and corruption.

November 30, 2022

Luxembourg CSSF Fines BOS Wealth Management Europe S.A. €210,000 for AML Breaches

The Commission de Surveillance du Secteur Financier imposed an administrative penalty on the Luxembourg-based investment firm for anti-money laundering and counterterrorist financing failures.

November 30, 2022