Apr
18
The People’s Bank of China in Beijing as photographed on Friday, Sept. 7, 2018. On Wednesday, April 17, 2019, an international group reported that China’s efforts against illicit finance fall short of global standards. (iStock)
German Regulators Place Correspondent Ties Under Microscope
By : Gabriel Vedrenne
Germany’s financial regulator is more thoroughly reviewing how domestic banks vet their correspondent clients amid reports of Deutsche Bank’s indirect ties to illicit finance in the Baltic states, sources familiar with the agency’s objectives told ACAMS moneylaundering.com.
Mexican FIU Campaign Against Illicit Funds Encounters Legal Hurdles
By : Daniel Bethencourt
Mexico’s financial intelligence unit has disclosed plans to more frequently pursue asset freezes and criminal cases against suspected money launderers under the administration of President Andres Manuel Lopez Obrador, even as a judicial rulings have curtailed the agency’s power.
Unicredit fined $1.3 billion for violating U.S. sanctions, U.K. officials freeze account linked to Syrian President Bashar Assad, and more, in this week’s roundup.
FinCEN Tags Peer-to-Peer Cryptocurrency Exchanger with Unprecedented Penalty
By : Daniel Bethencourt
The U.S. Treasury Department disclosed its first enforcement action against a peer-to-peer cryptocurrency exchanger Thursday, fining a California man $35,000 for violating the Bank Secrecy Act and barring him from transmitting funds.
It’s deja vu all over again. I’m talking about the return of the liberty-versus-security debate over warrants issued by the Foreign Intelligence Surveillance Act (FISA) Court.