TOP STORY

May

18

UK Compliance Officers Investigated for Suspected Due-Diligence Violations: Sources

The Financial Conduct Authority’s headquarters in London (Photo by Alamy). The regulator has launched investigations into several compliance officers suspected of failing to conduct enhanced due diligence on high-risk customers, sources told ACAMS moneylaundering.com.

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ADDITIONAL STORIES

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Australia's Department of Foreign Affairs and Trade updated its Consolidated List that includes all persons and entities subject to financial sanctions under the Charter of the United Nations Act 1945 and the Autonomous Sanctions Act 2011.
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.
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Enforcement Actions

The U.S. Justice Department announced that a Southern District of California judge sentenced the Roseville, CA-based subsidiary of Netherlands-based Coöperatieve Rabobank U.A. to pay a fine of $500,00 and forfeit $368,701,359 for anti-money laundering violations.
The U.S. Securities and Exchange Commission issued an order requiring the New York, NY-based firm to pay a $1 million penalty for anti-money laundering deficiencies, which resulted in the failure to file suspicious activity reports concerning the suspicious sale of billions of penny stock shares.