Myanmar (Burma)The Justice Department announced that Steven Saris pleaded guilty to tax evasion, operating an illegal gambling enterprise, and money laundering.
The Alberta Securities Commission announced charges against a Calgary resident for her role in a money laundering and investment fraud scheme.
SAR Surge Inundates Switzerland’s FIU
The annual volume of suspicious activity reports filed in Switzerland rose tenfold over the past decade, a surge that has brought MROS, the country’s financial intelligence unit, to the “limits of its human and technical resources,” the agency warned Thursday.
U.K. chancellor opposes FCA’s name-and-shame strategy, Austrian regulators warn Raiffeisen Bank, and more, in the midweek roundup.
Legal Brief: Tracking the Finances of Environmental Crimes
The Financial Transactions and Reports Analysis Centre of Canada penalized the Toronto, ON-based bank for failure to comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and related regulations.
The Federal Trade Commission announced a settlement agreement with the Waltham, MA-based financial services company and its London-based payment services affiliate to resolve allegations of credit card laundering and fraud.
| Technical | Effectiveness |
|---|---|
| Compliant : 7 | High : 0 |
| Largely Compliant : 18 | Substantial : 0 |
| Partially Compliant : 13 | Moderate : 1 |
| Non-Compliant : 2 | Low : 10 |
Myanmar's technical compliance was re-rated in a Oct. 25, 2023 follow-up report.
| Rank : 107/110 |
| Score : 7.83/10 |
| Rank : 137/179 |
| Score : 28/100 |
| Rank : N/A |
| Score : N/A |