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Attorneys and former regulators told attendees of the ACAMS AML Risk Management & Securities Summit in New York that the Financial Crimes Enforcement Network lacks the necessary budget and staff to develop, propose and finalize rules by congressionally mandated deadlines, and warned that the bureau's related delays in implementing the Anti-Money Laundering Act have forced compliance programs into a holding pattern. British authorities are identifying and investigating U.K. clients of a now-insolvent and shuttered Puerto Rican lender that facilitated a multiyear tax evasion and money laundering scheme, ACAMS moneylaundering.com reported. More The 27 nations of the EU endorsed a plan...