TOP STORY

Nov

US AML Reform Nears Congressional Approval

Sen. Mark Warner (D-VA) returning to the Senate floor on Monday, Jan. 27, 2020. Warner announced on Friday, Nov. 20, 2020, that portions of his AML reform legislation made it into the National Defense Authorization Act. (Getty Images)

Legs & Regs

OFAC Publishes Latest Edition of SDN List

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.

November 25, 2020

OFAC Announces Changes Made to SDN List in 2020

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, 2020 and Nov. 25, 2020.

November 25, 2020

OFAC Adds Two Entries to Global Magnitsky Sanctions List

The Office of Foreign Assets Control of the U.S. Treasury Department notified financial institutions regarding additions to the Specially Designated Nationals List with respect to the Global Magnitsky Act.

November 25, 2020

U.S. Treasury Department Blacklists Kaniyat Militia, Leader Mohamed al-Kani

The Treasury Department announced new sanctions against Libya’s Kaniyat militia and its leader, Mohamed al-Kani, for human rights abuses. The group and its leader were designated pursuant to Executive Order 13818, which includes provisions from the Global Magnitsky Human Rights Accountability Act.

November 25, 2020

Financial Crime Matters: The ICIJ’s Mike Hudson, Spencer Woodman and the FinCEN Files

November 23, 2020

In this episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, Mike Hudson, senior editor for the International Consortium of Investigative Journalists, and ICIJ reporter Spencer Woodman discuss the FinCEN Files.

ACAMS 2nd Annual AML & Anti-Financial Crime Conference – Virtual Caribbean

DATE: 12/1/20 - 12/3/20

LOCATION: Web Seminar, United States

View Events Calendar

According to an Oct. 15, 2020 advisory from the Financial Crimes Enforcement Network, behavioral indicators for human trafficking include:

A. A third party attempts to open an account for an unqualified minor.
B. A customer shows signs of poor hygiene, malnourishment, fatigue, and/or abuse.
C. Both A and B.
D. None of the above.

View all quizzes

More News

Financial Institutions Prod FinCEN for Details, Flexibility in Push for ‘Effective’ AML

By : Valentina Pasquali

Dozens of global banks, credit unions and money transmitters broadly applauded a U.S. plan to increase the efficacy of anti-money laundering rules, but sought far more granular information on what the proposals entail and questioned the viability of many of them.

November 25, 2020

Weekly Roundup: Ex Goldman Banker Seeks Dismissal of 1MDB Charges, Canadian Exchange Handled Iranian Funds, and More

Visa, Mastercard bolster vetting of crypto cards clients, Swiss regulators ding lender for failing to monitor Angolan PEP, and more, in the weekly roundup.

November 25, 2020

Dutch Authorities Want Unexplained Wealth Orders

By : Koos Couvée

Dutch officials plan to adopt their own version of an unexplained wealth order, a civil authority that the U.K. and a handful of other countries use to restrain the domestic assets of foreign politicos and other individuals suspected, but not yet convicted, of corruption or other crimes.

November 24, 2020

Financial Crime Matters: The ICIJ’s Mike Hudson, Spencer Woodman and the FinCEN Files

By : Kieran Beer

November 23, 2020

Falcon Private Bank Case to Test Swiss Attorney General

By : Gabriel Vedrenne

November 20, 2020

Enforcement Actions

OCC Fines JPMorgan Chase Bank, N.A. $250 Million for Internal Control Failures

The Office of the Comptroller of the Currency fined the Columbus, Ohio-based financial institutions $250 million for weak controls and management of its fiduciary activities, including an insufficient audit program.

November 24, 2020

Malta FIU Issues €118,365 Penalty Against Credence Fiduciary Limited for AML Breaches

The Malta Financial Intelligence Unit issued an administrative penalty against the Ta'xbiex, Malta-based trustee and fiduciary services company for violations of the Prevention of Money Laundering and Funding of Terrorism Regulations.

November 23, 2020