TOP STORY

Oct

18

Brazil to Face Tougher Global Scrutiny Following Supreme Court Suspension of Money Laundering Probes: FATF

Brazil’s Supreme Court President Dias Toffoli delivering a lecture in Sao Paulo, Brazil on Friday, Aug. 30, 2019. Toffoli in July suspended multiple money-laundering probes, prompting the Financial Action Task Force to question the adequacy of the nation’s anti-financial crime controls. (AP Images)

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Legs & Regs

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.

October 23, 2019

OFAC Announces Changes Made to SDN List in 2019

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, 2019 and Oct. 23, 2019.

October 23, 2019

MEPs Call for Sanctions in Response to Turkey’s Military Operation in Syria

The European Parliament published a press release concerning a debate by members of European Parliament on Turkey’s military operation in north-eastern Syria, during which many voiced support for targeted sanctions on Turkish government officials.

October 23, 2019

OFAC Deletes Five Individuals on Syria Sanctions List

The Office of Foreign Assets Control of the U.S. Treasury Department notified financial institutions regarding the deletion of five entries on the Specially Designated Nationals List with respect to Syria.

October 23, 2019

From the Editor: Compliance Officers Still Routinely Ignored

January 30, 2019

Jho Low, right, attending the Grammy Awards in Los Angeles, California on Monday, Jan. 26, 2014. “Billion Dollar Whale,” a book covering the 1MDB scandal, describes how Low, now a fugitive, relied on global banks to launder billions of dollars stolen from Malaysia’s sovereign wealth fund.

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More News

Swedbank Auditors Analyzing ’30 Billion Transactions’ for Signs of Illicit Finance

By : Koos Couvée

Attorneys and accountants investigating suspected attempts to launder funds through Swedbank are reviewing "30 billion transactions" in an internal probe that has cost more than $100 million to date, the lender disclosed Wednesday.
October 23, 2019

Amazon, PayPal Drove Significant Increase in Luxembourg SARs and STRs

By : Gabriel Vedrenne

Most suspicious transaction reports and suspicious activity reports filed in Luxembourg last year appear to have originated from PayPal, the global payment processor, and a second, larger and perhaps more unlikely source: Amazon, the world's largest e-commerce firm.
October 22, 2019

US Senator Mounts Effort Against Trade-based Illicit Finance

By : Valentina Pasquali

In a conversation with ACAMS moneylaundering.com senior reporter Valentina Pasquali, Sen. Bill Cassidy (R-LA), a gastroenterologist and former state lawmaker elected to Congress in 2014, discussed his plans for additional funding and new technology to tackle trade-based money laundering.
October 22, 2019

Brazil to Face Tougher Global Scrutiny Following Supreme Court Suspension of Money Laundering Probes: FATF

By : Koos Couvée

October 18, 2019

Weekly Roundup: Goldman Sachs in 1MDB Talks, Former Credit Suisse Banker Admits Taking Bribes, and More

October 18, 2019
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Enforcement Actions

Swiss OAG: Gunvor to Pay Almost CHF 94 Million for Bribing Public Officials

The Office of the Attorney General of Switzerland has ordered the Geneva, Switzerland commodities trader to pay the sum of almost CHF 94 million, including a fine of CHF 4 million for failure to take appropriate measures to prevent its employees from bribing public officials.
October 14, 2019

UK Gambling Commission: Petfre (Gibraltar) Limited to Pay £322,000 for Money Laundering Deficiencies

The United Kingdom's Gambling Commission issued the payment in lieu of a fine against the Warrington, United Kingdom-based company, which trades as Betfred, for failing to verify the sources of funds for a client that had been convicted of fraud.
October 10, 2019

OCC Fines Citibank N.A. $30 Million for OREO Violations

October 9, 2019

Finra: C.L. King & Associates, Former AML Compliance Officer to Pay Over $382,000 for AML, Other Failures

October 2, 2019

OFAC: The General Electric Company to Pay $2,718,581 for Alleged Cuban Sanctions Violations Committed by Subsidiaries

October 1, 2019