ACAMS Insights: free resources on topical issues

TOP STORY

Sep

27

Despite Fanfare, Iran, EU Have Used Sanctions-Safe Payment Channel One Time

In a letter published Tuesday, Sept. 27, 2022, German officials told the Bundestag that the EU’s clearinghouse for shielding European banks from exposure to U.S. sanctions against Iran has handled only one transaction since launching in January 2019. (Alamy)

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Legs & Regs

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Enforcement Actions

Luxembourg's Commission de Surveillance du Secteur Financier issued an administrative penalty against Banque J. Safra Sarasin (Luxembourg) S.A. for noncompliance with the amended version of Law of 12 November 2004 on the fight against money laundering and terrorist financing.
The Federal Deposit Insurance Corporation entered into a consent order with the Holly Springs, MI-based financial institution for inadequate Bank Secrecy Act compliance.