TOP STORY

Jul

16

Facebook Shares Preliminary Plan for Libra AML Compliance

David Marcus, CEO of Facebook subsidiary Calibra, speaks during a Senate Banking Committee hearing in Washington, D.C., on Tuesday, July 16, 2019. Marcus told lawmakers that Facebook’s cryptocurrency, Libra, will comply with U.S. anti-money laundering rules. (Getty Images)

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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, 2019 and July 19, 2019.
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Enforcement Actions

Latvia's Financial and Capital Market Commission fined the Riga, Latvia-based bank €1,028,850 for anti-money laundering and counterterrorist financing deficiencies in its customer due diligence and transaction monitoring programs.
The Qatar Financial Centre Regulatory Authority fined the Doha, Qata-based insurance intermediary firm for violations of the Anti-Money Laundering and Combating Terrorist Financing Rules 2010 and the General Rules 2005.