New ZealandThe Federal Reserve Board has finalized the implementation details for the new Fedwire Funds Service messaging format, ISO 20022, which is set to be adopted on March 10, 2025.
U.S. President Joseph R. Biden, Jr. issued a proclamation increasing duties on certain items from the Russian Federation and Belarus.
Credit Suisse Convicted of AML Failings in Cocaine Baron Case
Switzerland’s top court on Monday ordered Credit Suisse to pay a record CHF21 million ($22 million) penalty for anti-money laundering violations related to its handling of millions of francs worth of drug profits.
Bulgaria’s AML Regime Failing on All Sides: Moneyval
Bulgaria faces an uphill battle to avoid inclusion on a global watchlist of countries with weak anti-money laundering regimes after an intergovernmental group concluded that its defenses against financial crime are failing in every regard.
The Reserve Bank of India imposed a fine of ₹57.50 lakh on the Chennai, India-based bank for regulatory shortcomings, including non-compliance with the regulator’s anti-fraud directive.
The Federal Deposit Insurance Corporation and the Iowa Superintendent of Banking issued a joint consent order against the Luana, Iowa-based bank, requiring it to address unsound banking practices.
| Technical | Effectiveness |
|---|---|
| Compliant : 8 | High : 2 |
| Largely Compliant : 21 | Substantial : 4 |
| Partially Compliant : 11 | Moderate : 5 |
| Non-Compliant : 0 | Low : 0 |
New Zealand's technical compliance was re-rated in a May 31, 2022 follow-up report
| Rank : 10/110 |
| Score : 3.53/10 |
| Rank : 1/179 |
| Score : 88/100 |
| Rank : 57/133 |
| Score : 59/100 |