News

Sweden’s financial regulator fined Swedbank €360 million for serious AML lapses and failures to cooperate with local and foreign authorities investigating the lender’s handling of billions of dollars’ worth of suspicious transactions, ACAMS moneylaundering.com reported. More A German court seized from private lender MM Warburg some €176 million in profits of a massive tax fraud, and imposed a suspended jail sentence and €14 million fine on a British banker for his role in facilitating the fraud, and Reuters reported. More Compliance officers are taking steps to adjust their transaction monitoring thresholds to reflect drastic changes in their clients’ financial activity...