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Weekly Roundup: US Officials Target Ransomware Payments, Pennsylvania Bank Must Bolster AML Program, and More

The U.S. Treasury Department warned that certain cybersecurity firms that facilitate extortion payments for victims of ransomware attacks may qualify as money transmitters and must register with the Financial Crimes Enforcement Network, ACAMS moneylaundering.com reported. More U.S. regulators ordered a Pennsylvania-based lender, Atlantic Community Bankers Bank, to overhaul its anti-money laundering controls, American Banker reported. More Luxembourg's financial supervisor imposed a €170,000 fine on the local branch of Swiss lender Banque de Commerce et de Placements after identifying serious shortcomings in its AML program, Paperjam reported. More Austrian prosecutors have targeted seven additional individuals amid an ongoing probe into alleged...

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