Weekly Roundup: FinCEN Trims During Shutdown, EU Considers Reforming AML Beyond Current Plans, and More

The U.S. Treasury Department's Financial Crimes Enforcement Network has temporarily reduced staff by more than 50 percent and paused work on guidance, rulemaking and cooperation with foreign agencies amid the partial shutdown of the federal government, Reuters reported. More EU finance chief Valdis Dombrovskis told the Financial Times that officials are considering tightening anti-money laundering supervision and enforcement in the European Union beyond already-agreed plans to empower the European Banking Authority. More European Central Bank official Klaas Knot said recent money-laundering scandals indicate that too many EU banks prioritize profit over compliance, Reuters reported, citing NRC. More The United Kingdom...