TOP STORY

Feb

10

EXCLUSIVE: Treasury Takes Aim at North Korea’s Offshore Accounts

North Korean leader Kim Jong Un attends a press conference in Pyongyang, North Korea, on Wednesday, Sept. 19, 2018. U.S. officials are targeting North Korea’s funds by freezing payments involving overseas accounts that handle them. (Pyeongyang Press Corps)

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Legs & Regs

HM Treasury Publishes Updated Version of Asset Freeze Sanctions List

HM Treasury modified its Consolidated List of Financial Sanctions Targets in the United Kingdom, which contains the names of designated individuals and entities subject to international asset freezing and domestic sanctions under the Terrorist Asset-Freezing etc. Act 2010.

February 20, 2020

Australian Regulator Publishes Latest Edition of Consolidated Sanctions List

Australia’s Department of Foreign Affairs and Trade updated its Consolidated List that includes all persons and entities subject to financial sanctions under the Charter of the United Nations Act 1945 and the Autonomous Sanctions Act 2011.

February 20, 2020

OFAC Publishes Latest Edition of SDN List

The Office of Foreign Assets Control, part of the U.S. Treasury Department, updated its list of Specially Designated Nationals and Blocked Persons, which designates organizations and individuals who are restricted from doing business with the United States, American companies or Americans.

February 20, 2020

OFAC Announces Changes Made to SDN List in 2020

The Office of Foreign Assets Control released a cumulative list of changes made to the list of Specially Designated Nationals and Blocked Persons between Jan. 1, 2020 and Feb. 20, 2020.

February 20, 2020

Financial Crime Matters: Timea Nagy, a Survivor’s Story

December 3, 2019

In this episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, interviews author and trafficking survivor Timea Nagy. They discuss her memoir “Out of the Shadows” and the role of financial institutions in combating modern day slavery.

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More News

China Turns Towards AI, Other Tech to Flag Illegal Payments

By : Eddie Lee

In 2008, Yang Dongqin, the then 42-year-old wife of a Burmese drug trafficker, was sentenced to three years in prison for laundering nearly 7 million yuan, or about $925,000, through banks in Ruili, Yunnan, near China's southwestern border, and investing the funds into real estate.
February 20, 2020

Swiss Bank Draws Penalty After Regulators Find Links to Global Graft Scandals

By : Gabriel Vedrenne

Switzerland's banking regulator ordered Julius Baer to submit to an independent monitor and refrain from large acquisitions after an investigation found nearly a decade's worth of broad, systemic lapses in the private lender's anti-money laundering program.
February 20, 2020

Midweek Roundup: China Fines Lenders for AML Lapses, UAE Probes Habib Bank, and More

HSBC allegedly aided U.S. probe of Huawei, FATF expected to add Myanmar to list of AML laggards, and more, in the midweek roundup.
February 19, 2020

Cayman Islands Knocked for Financial Secrecy, Blacklisted as Tax Haven

By : Koos Couvée

February 18, 2020

US Casinos Struggling with Bulk Cash, Underground Banking Schemes

By : Daniel Bethencourt

February 18, 2020
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Enforcement Actions

Finma Orders Julius Baer Group Ltd. to Address AML Failures

The Swiss Financial Market Supervisory Authority ordered the Zurich, Switzerland-based bank to take effective measures to ensure its compliance with anti-money laundering and counterterrorist financing requirements, following an investigation that revealed significant money laundering failures.
February 20, 2020

Hong Kong SFC Orders BMI Securities Limited to Pay HK$3.7 Million for AML Violations

The Hong Kong Securities and Futures Commission reprimanded and fined the Hong Kong-based financial advisory company HK$3.7 million for failing to comply with anti-money laundering and counterterrorist financing regulatory requirements.
February 11, 2020

DOJ: Banco San Juan Internacional, Inc. Pays $1 Million to Resolve BSA Violations

February 11, 2020

RBI Fines Bhilai Nagrik Sahakari Bank Maryadit for KYC Failures

February 4, 2020

SFO: DPA Requires Airbus SE to Pay Approximately €991 Million for Failure to Prevent Bribery

January 31, 2020