TOP STORY

Jun

21

US ‘List of Oligarchs’ Challenges European Banks: Sources

Chelsea soccer club owner Roman Abramovich visits the Kremlin on Dec. 19, 2016, roughly a year before his name appeared on a U.S. list of Russian oligarchs (Getty Images). The list has challenged European banks with clients whose names appear therein.

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ADDITIONAL STORIES

June 22 2018

Multiple Parties, Private Communications Expose Property Transactions to Fraud: Sources

By : Valentina Pasquali

Online fraudsters are increasingly posing as employees of title insurance firms and other parties in U.S. real estate transactions to misdirect payments to accounts they control, say sources.

June 22 2018

Weekly Roundup: Trump Advocates for US-Blacklisted Chinese Telecom, British Columbia Plans Beneficial Ownership Database, and More

Japanese-North Korean joint business draw regulatory scrutiny, Latvian officials investigate ABLV Bank’s alleged connection to Russian fraud, and more, in this week’s roundup.

June 20 2018

Midweek Roundup: Blacklisted Entities Bought Trump Properties, US Commerce Secretary Kept Commercial Ties to Russia and China, and More

British businessman releases bank whistleblower’s report, second batch of Panama Papers released, and more, in the midweek roundup.

June 20 2018

Vast Majority of Bank Secrecy Act Reporting Goes Unanswered: US Industry Group

By : Daniel Bethencourt

Law enforcement agencies responded to less than 5 percent of all suspicious activity reports and currency transaction reports filed last year by several of the largest U.S. banks, according to an unreleased industry survey.

From the Editor: Regulatory Oversight Can Save Cryptocurrency from the ‘Dark Side’

March 9 2018

Cryptocurrencies and the blockchain protocol have promised to provide inexpensive, secure and transparent ways to move funds. But they presently carry more problems and negative news than promise.

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Legs & Regs

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.
June 22 2018

HMT Amends Two Entries on Islamic State, Al-Qaida Sanctions List

HM Treasury's Office of Financial Sanctions Implementation issued a notice concerning amendments made to the identifying information for two individuals following updates to Council Regulation (EC) 881/2002, which imposes sanctions related to the Islamic State of Iraq and the Levant and al-Qaida.
June 22 2018

OSCE Hosts Workshop on Role of Cryptocurrencies in Financial Crime, Corruption

June 22 2018

White House Continues National Emergency Concerning Western Balkans

June 22 2018

European Commission Announces New Measures to Fight VAT Fraud

June 22 2018
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Enforcement Actions

UK Gambling Commission: 32Red to Pay £2 Million for AML Failures

The United Kingdom's Gambling Commission entered into a regulatory settlement with the Gibraltar-based online casino that requires the company to pay a £2 million penalty for money laundering failures and failure to protect a consumer from gambling-related harm.
June 21 2018

NYSDFS: Deustche Bank AG, New York Branch to Pay $205 Million for Unsafe Forex Practices

The New York State Department of Financial Services entered into a consent order with the Frankfurt, Germany company and its New York, NY-based branch requiring it to pay a $205 million fine for its unsafe and unsound foreign exchange business practices.
June 20 2018

RBI Fines M/s Kosamattam Finance Ltd for KYC Violations

June 18 2018

Central Bank of Ireland Fines Appian Asset Management Limited €443,000 for AML Breaches

June 15 2018

FCA Fines Canara Bank £896,100 for AML Failures

June 6 2018