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Sep

Counterterrorist Financing, Still a Work in Progress 20 Years After 9/11, Now a Lower Priority

The America’s Response Monument rises above the 9/11 Memorial in New York on opening day, Wednesday, June 29, 2016. The Sept. 11 attacks triggered radical changes to laws and regulations that govern the financial services industry. (Alamy)

Legs & Regs

OFAC Adds Six Entries to Kingpin Act Designations

The Office of Foreign Assets Control of the U.S. Treasury Department issued a notice regarding the addition of six entries on the Specially Designated Nationals List with respect to the Kingpin Act.

September 16, 2021

OFAC Announces Changes Made to SDN List in 2021

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, 2021 and Sept. 16, 2021.

September 16, 2021

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.

September 16, 2021

EU Removes 28 Entities from Iraq Sanctions List

The European Commission issued Commission Implementing Regulation (EU) 2021/1472, which amends the sanctions measures with respect to Iraq.

September 14, 2021

Financial Crime Matters: Canada’s Campaign Against Corruption and Money Laundering

May 11, 2021

In this episode of Financial Crime Matters, Kieran Beer, and James Cohen of Transparency International Canada assess Canada’s recent efforts to clamp down on illicit finance, including in the country’s gaming and real estate sectors.

ACAMS Las Vegas Conference

DATE: 09/27/21 - 09/29/21

LOCATION: ARIA | Las Vegas, Nevada, United States

View Events Calendar

The Wolfsberg Group in a June 2021 statement advised financial institutions to focus on the following areas to increase the effectiveness of their AML/CFT programs:

A. Assess and understand anti-money laundering and counterterrorist financing risks.
B. Prioritize resources.
C. Engage with law enforcement.
D. All of the above.

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More News

German FIU in Turmoil Weeks Ahead of Global Evaluation

By : Gabriel Vedrenne

State police searched a pair of federal ministries in Berlin last week as part of a sprawling investigation into Germany's financial intelligence unit that could impact an impending global assessment of their country's laws, rules and overall campaign against financial crime.

September 15, 2021

ING Executives Cleared of Violating ‘Banker’s Oath’ Over AML Failures

By : Koos Couvée

A disciplinary panel in the Netherlands has cleared former chief executive Ralph Hamers and 14 other senior managers of ING of violating the Dutch Banker's Oath in relation to systemic anti-money laundering failures that the Amsterdam-based lender copped to three years ago.

September 15, 2021

Midweek Roundup: Afghan FIU Shuts Down, Japanese Banks Reconsider Remittances, and More

French lenders curtail Lebanese business over corruption, New Zealand fines derivatives trading firm more than $500,000 for AML failures, and more, in the midweek roundup.

September 15, 2021

FinTRACA, Afghanistan’s Financial Intelligence Unit, Faces Bleak Future

By : Valentina Pasquali

September 13, 2021

Weekly Roundup: US Investment Advisers Still Disregard AML 20 Years After 9/11, German Authorities Raid Government Ministries in FIU Probe, and More

September 10, 2021

ACAMS Las Vegas. September 27 - 29, 2021

NICE Actimize - Blind spots are inevitable. Do you know who you're doing business with?

Enforcement Actions

RBI Penalizes Guna Branch of Jila Sahakari Kendriya Bank Maryadit for KYC Failures

The Reserve Bank of India issued a monetary penalty against the Guna-based branch of the Madhya Pradesh, India-based bank for its failure to comply with know-your-customer requirements.

September 16, 2021

RBI: Jila Sahakari Kendriya Bank Maryadit Penalized for KYC Failures

The Reserve Bank of India issued a monetary penalty of one lakh rupee against the Madhya Pradesh, India-based bank for its failure to comply with know your customer rules.

September 15, 2021