A U.S. Treasury Department bureau on Friday withdrew its proposals to blacklist an Andorran banking group and two other financial institutions as money laundering conduits.
Recent enforcement actions and national assessments of anti-money laundering efforts point to persistent concerns about potential over-reliance on an old compliance mainstay: third-party audits
The European Union's anti-money laundering watchdog is set to say that the Principality of Andorra is in compliance with its recommendations on tackling financial crime, according to sources.
Regulators from the United States should directly consult with German counterparts about fines they plan to impose on German banks, an anti-money laundering supervisor at Germany's financial watchdog said.