TOP STORY

Apr

Binance Executive’s Nigeria Arrest Has Compliance Officers Rethinking Travel Plans

Tigran Gambaryan, head of anti-financial crime at Binance, appears in court in Abuja, Nigeria, on Thursday, April 4, 2024. Gambaryan’s arrest in Nigeria, where he has since been charged with money laundering and other crimes, has raised concerns within the global financial services industry. (Getty)

Legs & Regs

G7 Ministers Issue Statements on Global Challenges, Support for Ukraine

The Group of Seven Foreign Ministers, along with the High Representative of the EU, issued two statements addressing pressing global issues and reaffirming their support for Ukraine.

April 19, 2024

OSCE Holds CTF Training Event in Kosovo

The Organization for Security and Co-operation in Europe announced that it held a training course in Kosovo to enhance the capacities of local entities in combating terrorist financing.

April 19, 2024

G7 Foreign Ministers Condemn Iranian Destabilizing Actions, Warn of Sanctions

The foreign ministers of the Group of Seven national issue a joint communiqué on the situation in the Middle East that condemns Iran’s direct and unprecedented attack against Israel with ballistic missiles and drones.

April 19, 2024

OFAC Adds One Individual, Five Entities to SDN List

The Office of Foreign Assets Control published a notice on the addition of one individual and five entities to the Specially Designated Nationals List with respect to the West Bank and non-proliferation issues.

April 19, 2024

Financial Crime Matters: Erstwhile Money Launderer Discusses How to Move Dirty Money

January 11, 2024

In the latest episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, talks with former lawyer turned money launderer, Kenneth Rijock, about the money laundering techniques he used while working with drug cartels.

Edmund Fitton-Brown on Yemen and the Houthis

March 11, 2024

In the latest episode of Sanctions Space, Justine is joined by Edmund Fitton-Brown, senior advisor at the Counter Extremism Project and former U.K. ambassador to Yemen. They discuss the ongoing tensions in the Red Sea, the political situation in Yemen and the origin and aspirations of the Houthi group, as well as sanctions actions taken by the U.S. and others against the Houthis.

The Assembly APAC

DATE: 04/22/24 - 04/23/24

LOCATION: Hong Kong, China, Hong Kong

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Money laundering-related red flags associated with virtual assets and virtual asset service providers include:

A. The use of the same IP-address for a large number of seemingly unrelated virtual asset wallets.
B. Depositing virtual assets and then immediately withdrawing them.
C. Both A and B.
D. None of the above.

View all quizzes

More News

Weekly Roundup: World-Check Database Hacked, Treasury Appeals CTA Case, and More

Adult children robbing elderly parents, and more, in the weekly roundup.

April 19, 2024

US Government Appeals Alabama Judge’s Beneficial Ownership Injunction

By Fred Williams

In a case that could either limit or uphold the Corporate Transparency Act, lawyers representing the Treasury Department argued in an appeal that a federal judge in Alabama overrode well-established powers of Congress in a ruling last month that the law violates the Constitution.

April 19, 2024

Usual Suspects in Elder Financial Theft? Adult Children, FinCEN Says

By Fred Williams

The most frequent perpetrators of elder theft in the U.S. are the victims' own children, followed by nurses, aides and other professional caregivers, the Financial Crimes Enforcement Network, also known as FinCEN, disclosed in a 14-page analysis Thursday.

April 18, 2024

EU Lawmakers Want UAE Kept on Money Laundering Watchlist

By Koos Couvée

Members of the European Parliament launched a bid to keep the United Arab Emirates on the EU's list of jurisdictions outside the bloc that present a high threat of illicit finance, citing the Gulf nation's outsized role in transnational money-laundering and sanctions-busting schemes.

April 18, 2024

Midweek Roundup: ‘Swazi Secrets’ Fallout Begins, Canada Unveils AML Reforms, and More

Compliance officers rethink travel plans, FinCEN renews GTOs, and more, in the midweek roundup.

April 17, 2024

Enforcement Actions

OFAC: SCG Plastics Co., Ltd. Agrees to Pay $20 Million to Resolve Sanctions Violations

The U.S. Treasury Department's Office of Foreign Assets Control entered into a settlement agreement with the Bangkok, Thailand-based subsidiary of a multinational enterprise to resolve allegations of sanctions violations.

April 19, 2024

OCC: First FS & LA of Lorain Agrees to Address BSA/AML Shortcomings

The Office of the Comptroller of the Currency entered into a formal agreement with the Lorain, Ohio-based bank to resolve unsafe and unsound practices, including the bank's failure to develop an appropriate internal Bank Secrecy Act, anti-money laundering program.

March 4, 2024