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Jun

German Supervisor Tightens Rules on Correspondent Payments and AML Outsourcing

Ahead of a global review of their country’s defenses against financial crime, German authorities are scrambling to eliminate gaps in anti-money laundering supervision revealed by the Wirecard scandal and Deutsche Bank’s struggles with compliance. (Getty Images)

Legs & Regs

EU Adds One Individual to Al-Qaida, Islamic State Sanctions List

The European Commission issued Commission Implementing Regulation (EU) 2021/1016, which amends for the 321st time the sanctions measures with respect to al-Qaida and the Islamic State of Iraq and the Levant.

June 22, 2021

EU Renews Crimea, Sevastopol Sanctions Until June 2022

The European Union issued Council Decision (CFSP) 2021/1010, which renews the restrictive measures in response to the illegal annexation of Crimea and Sevastopol until June 23, 2022.

June 22, 2021

OECD Expresses Concern over Lacking Foreign Bribery Reforms in Poland

The Organisation for Economic Co-operation and Development Working Group on Bribery expressed disappointment in Poland for not taking steps to implement legislative reforms to amend the liability of legal persons with respect to foreign bribery.

June 22, 2021

Europol Publishes Terrorism Trend Report 2021

The European Union Agency for Law Enforcement Cooperation published the EU Terrorism Situation and Trend Report, based primarily on information officially provided by EU member states and a number of cooperation partners.

June 22, 2021

Financial Crime Matters: The Role of Financial Institutions in Fighting Human Trafficking

April 20, 2021

In this episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, and Sara Crowe, strategic initiatives director for financial systems at Polaris, a nonprofit dedicated to combating sex and labor trafficking, discuss anti-human trafficking initiatives.

According to the United Nations, Moldova should implement the following recommendations to improve its campaign against illicit finance:

A. Implement mechanisms to improve efficiency of asset seizures.
B. Implement a stronger sanctions regime against money laundering offenses.
C. Improve due diligence controls over politically exposed persons.
D. All of the above.

View all quizzes

More News

Biden Nominees for Illicit-Finance Posts Endorse Swift Implementation of AML Act, Robust Sanctions Enforcement

By : Valentina Pasquali

A pair of current and former federal officials that President Joe Biden nominated for the top two posts in the Treasury Department's illicit finance office vowed to prioritize implementation of a sweeping package of reforms to the BSA, and push back against Iran, Russia and others countries.

June 22, 2021

Illegal Cryptocurrency Bets Spike in Belgium

By : Gabriel Vedrenne

Belgian authorities suspect illegal wagers made in cryptocurrencies have boomed after learning that individuals tied to match-fixing and unlicensed-gambling operations are increasingly converting bitcoins and other digital assets into government-issued banknotes.

June 21, 2021

Legal Brief: Canada Tackles Beneficial Ownership, Money Laundering in Real Estate

By : Laura Cruz, Legal Editor

Editor's Note: In the latest installment of our series, the moneylaundering.com legal team covers illicit finance in Canadian real estate and the push for publicly available beneficial-ownership information.

June 21, 2021

Weekly Roundup: Latvia Assesses Record AML Fine, Germany Failed to Probe Wirecard SAR, and More

June 18, 2021

Latvia Imposes Record AML Penalty

By : Koos Couvée

June 17, 2021

Enforcement Actions

RBI Imposes Monetary Penalty of 12 Lakh Rupees Against Mogaveera Co-operative Bank Limited for KYC Failures

The Reserve Bank of India issued a monetary penalty of 12 lakh rupees against the Mumbai, India-based financial institution for violating know-your-customer rules.

June 21, 2021

RBI: Indapur Urban Cooperative Bank Ltd. to Pay 10 Lakh Rupees for KYC Deficiencies

The Reserve Bank of India issued a monetary penalty of 10 lakh rupees against the Maharashtra, India-based bank for not adhering to the know-your-customer requirements.

June 21, 2021