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May

France Earns FATF’s Highest Efficacy Scores to Date, Surpassing Britain

Roman Abramovich’s $120 million Riviera mansion as photographed on Friday, April 13, 2001. France tops the list of nations with effective AML rules but luxury properties still draw funds of questionable origin into the country. (Getty Images)

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.

May 20, 2022

COE, Romanian Authorities Discuss First National Risk Assessment of Romania

Authorities from Romania during a workshop presented the results of the nation’s first Money Laundering and Terrorist Financing National Risk Assessment to members of the Council of Europe.

May 20, 2022

Europol: Italian Authorities Dismantle Organized Crime Group Targeting Elderly

The European Union Agency for Law Enforcement Cooperation announced that it supported an operation led by the Italian Carabinieri Corps that resulted in 13 arrests for their alleged ties to a criminal gang that defrauded elderly victims and laundered more than €1 million in proceeds.

May 20, 2022

HM Treasury Amends Four Russia Sanctions Entries

HM Treasury’s Office of Financial Sanctions Implementation issued a notice concerning amendments made to the entries for four individuals pursuant to the Russia (Sanctions) (EU Exit) Regulations 2019.

May 20, 2022

Financial Crime Matters: Afghanistan’s Humanitarian Crisis

April 22, 2022

In this episode of Financial Crime Matters, Kieran Beer of ACAMS moneylaundering.com discusses the severity of the economic and humanitarian crisis in Afghanistan with John Sifton and Patti Gossman, both of Human Rights Watch.

Sanctions Space: Global Trade Analyst Discusses Russian Invasion, Indirect Consequences

March 10, 2022

In this episode of Sanctions Space, Justine Walker of ACAMS and Emily Rees of the European Centre for International Political Economy discuss the commercial impact of Russia's invasion of Ukraine.

ACAMS Europe Conference

DATE: 06/14/22

LOCATION: Brussels, Belgium

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Potential money laundering indicators involving non-fungible tokens include:

A. A network of sending and receiving parties to the same transaction or group of transactions.
B. Significant number of sales in a collection purchased from a mixer.
C. Clearly overpriced/underpriced NFT that is traded frequently in a short amount of time.
D. All of the above.

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More News

‘Continuing Activity’ SAR Failures Cost Wells Fargo Securities Branch

By : Colby Adams

Wells Fargo's trading division in St. Louis "willfully violated" U.S. regulations by not reporting potentially illicit transactions by deadline on at least 50 occasions after retooling its anti-money laundering program 10 years ago, the Securities and Exchange Commission announced Friday.

May 20, 2022

Weekly Roundup: US Official Threatens Secondary Sanctions, SEC Tags Wells Fargo, and More

U.S. seizure of Russian superyacht in doubt, FinCEN set to receive more funding, and more, in the weekly roundup.

May 20, 2022

Midweek Roundup: BitMex Founder Faces Prison, FATF Praises France, and More

Russian nationals gobble up Turkish real estate, U.S. tops list of global tax havens, and more, in the midweek roundup.

May 18, 2022

United States Named Top Global Tax Haven Despite Corporate Transparency Push

By : Koos Couvée

May 16, 2022

Weekly Roundup: Barclays Flagged Suspicious UK Campaign Contribution, Mexican Court Favors AML Over Privacy, and More

May 13, 2022

NICE Actimize. Focus on the Truly Suspicious - Put High-Risk Alerts First. Get the infographic” style=

Enforcement Actions

SEC Fines Wells Fargo Clearing Services, LLC $7 Million for SARs Failures

The U.S. Securities and Exchange Commission issued a cease-and-desist order against the St. Louis, MO-based brokerage firm that requires it to pay a $7 million fine to settle charges related to failing to file at least 34 suspicious activity reports between April 2017 and October 2021.

May 20, 2022

DOJ: Allianz Global Investors U.S. LLC Agrees to Pay Over $5.7 Billion for Securities Fraud

The U.S. Justice Department outlined that the New York, NY-based registered investment adviser pleaded guilty to securities fraud and agreed to pay a criminal fine of approximately $2.3 billion, more than $3 billion in restitution to the victims, and to forfeit approximately $463 million.

May 17, 2022