Global AFC Threats Report: Understand the financial crime landscape – including the top threats for organizations in 2024

TOP STORY

Apr

Hollywood Reporter’s Notebook

As we bid farewell again to Florida and make our way home, ACAMS moneylaundering.com reflects on this year’s edition of The Assembly Hollywood and shares some of what we learned.

Legs & Regs

US Treasury Announces Sanctions in Response to Attack on Israel

The U.S. Treasury Department announced new sanctions on 16 individuals and two entities for enabling Iran’s production of unmanned aerial vehicles that were used in the April 13, 2024, attack on Israel.

April 18, 2024

OFAC Adds 16 Individuals, 10 Entities to SDN List

The Office of Foreign Assets Control issued a notice concerning the addition of 26 entries to the Specially Designated Nationals List with respect to Iran, non-proliferation, and counter terrorism issues.

April 18, 2024

FinCEN Issues Financial Trend Analysis on Elder Financial Exploitation

The Financial Crimes Enforcement Network released a Financial Trend Analysis that focuses on patterns and trends in Bank Secrecy Act data linked to elder fraud exploitation, or EFE.

April 18, 2024

UK Announces Coordinated Sanctions on Iranian Military Officials, Related Entities

The U.K. Foreign, Commonwealth and Development Office announced sanctions targeting seven individuals and six entities for enabling Iran to conduct its attack on Israel, among other destabilizing regional activity.

April 18, 2024

Financial Crime Matters: Ex-OCC Official Discusses Recent FinCEN Rulemaking

March 25, 2024

In this episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, and Daniel Stipano, former deputy chief council for the OCC, discuss the Corporate Transparency Act and FinCEN’s creation of a national database of beneficial owners.

Edmund Fitton-Brown on Yemen and the Houthis

March 11, 2024

In the latest episode of Sanctions Space, Justine is joined by Edmund Fitton-Brown, senior advisor at the Counter Extremism Project and former U.K. ambassador to Yemen. They discuss the ongoing tensions in the Red Sea, the political situation in Yemen and the origin and aspirations of the Houthi group, as well as sanctions actions taken by the U.S. and others against the Houthis.

The Assembly APAC

DATE: 04/22/24 - 04/23/24

LOCATION: Hong Kong, China, Hong Kong

View Events Calendar

Money laundering-related red flags associated with virtual assets and virtual asset service providers include:

A. The use of the same IP-address for a large number of seemingly unrelated virtual asset wallets.
B. Depositing virtual assets and then immediately withdrawing them.
C. Both A and B.
D. None of the above.

View all quizzes

More News

Midweek Roundup: ‘Swazi Secrets’ Fallout Begins, Canada Unveils AML Reforms, and More

Compliance officers rethink travel plans, FinCEN renews GTOs, and more, in the midweek roundup.

April 17, 2024

Breaking April 17, 2024: 6:07 pm ET

Canadian Officials Unveil Raft of AML Proposals

Italy’s Efforts Against Defensive STRs Paying Off, Albeit Slowly

By Gabriel Vedrenne

The annual volume of suspicious transaction reports in Italy fell a modest 3 percentage points from 2022 to end at 150,000 submissions in 2023, according to UIF, the country's financial intelligence unit, while the share of subpar-quality STRs dropped after peaking at 30 percent.

April 17, 2024

Binance Executive’s Nigeria Arrest Has Compliance Officers Rethinking Travel Plans

By Fred Williams

Nigeria's detainment of Binance's compliance chief for weeks without charge while demanding a penalty of $10 billion from his employer has effectively transformed the nation into a no-go pariah for anti-financial crime personnel, sources told ACAMS moneylaundering.com.

April 17, 2024

With Beneficial Ownership, Britain’s Offshore Jurisdictions Drag Their Feet

By Koos Couvée

Six years after the House of Commons passed legislation to compel the British Virgin Islands, Bermuda and Britain's other overseas territories to launch beneficial ownership registers and make them available to the public, only one—Gibraltar—has fully complied, research shows.

April 15, 2024

Enforcement Actions

AUSTRAC Issues Eight Infringement Notices Totaling AU$105,600 for Reporting Failures

The Australian Transaction Reports and Analysis Centre issued infringement notices against six entities and two sole traders for failing to submit the 2022 annual compliance report pursuant to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

April 18, 2024

Malta FIAU Fines Notary Public €29,587 for AML/CTF Violations

The Financial Intelligence Analysis Unit of Malta fined a notary public €29,587 for violations of the Prevention of Money Laundering and Funding of Terrorism Regulations.

April 16, 2024