TOP STORY

Jun

EXCLUSIVE: Sentencing of Bashar Assad’s Uncle in France Exposes Bank’s AML Failure

Rifaat Assad, an exiled uncle of Syria’s President Bashar Assad, is photographed in Paris on Tuesday, Nov. 15, 2011. A sentencing document published Wednesday, June 17, 2020, outlines the compliance failures and decisions that allowed him to move embezzled funds into Europe. (AP Photo)

Legs & Regs

HM Treasury Publishes Updated Version of Asset Freeze Sanctions List

HM Treasury modified its Consolidated List of Financial Sanctions Targets in the United Kingdom, which contains the names of designated individuals and entities subject to international asset freezing and domestic sanctions under the Terrorist Asset-Freezing etc. Act 2010.

July 7, 2020

Europol Announces Dismantling of Cybercrime, Money Laundering Ring

The European Union Agency for Law Enforcement Cooperation announced the dismantling of an organized crime group involved in financial fraud, cybercrime and money laundering in a joint operation involving Italian, EU and Romanian authorities.

July 7, 2020

HM Treasury Renews Five Terrorism, Terrorist Financing Designations

HM Treasury’s Office of Financial Sanctions Implementation issued a notice concerning the renewal of five individual designations under the Terrorist Asset-Freezing etc. Act 2010.

July 7, 2020

FATF Publishes Report Highlighting AML/CTF Risks of Stablecoins for G20 Finance Ministers, Central Bank Governors

The Financial Action Task Force published its “Report to the G20 Finance Ministers and Central Bank Governors on So-called Stablecoins” which addresses the anti-money laundering and counterterrorist financing risks of cryptoassets known as stablecoins.

July 7, 2020

Financial Crime Matters: Real Estate Money Laundering in Canada with Maureen Maloney

January 21, 2020

In this episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, interviews Maureen Maloney, a professor of Public Policy at Simon Fraser University. They discuss her work investigating money laundering in British Columbia’s real estate sector.

On April 8, 2020, the Financial Action Task Force of Latin America, GAFILAT, warned the public regarding the following emerging risks associated with COVID-19:

A. Ponzi schemes that seek to take advantage of economic fears and loss of jobs.
B. Criminals seeking to recruit people experiencing financial distress to launder funds and commit other crimes.
C. Schemes involving fake loans or other financial assistance programs seeking to steal personal data.
D. All of the above.

View all quizzes

More News

In Post-Brexit Milestone, United Kingdom Unveils First ‘Magnitsky’ Sanctions

By : Koos Couvée

The United Kingdom on Monday disclosed details of its first autonomous sanctions regime since leaving the European Union, designating almost 50 individuals and entities accused of involvement in human rights abuses in Russia, Saudi Arabia, North Korea and Myanmar.

July 6, 2020

EU Parliament Creates Permanent Panel on Tax Crimes, but Excludes Money Laundering

By : Koos Couvée

EU lawmakers from across the political spectrum have agreed to establish a permanent committee on taxation, but, unlike its predecessors, the panel's remit does not include money laundering and terrorist financing.

July 2, 2020

Weekly Roundup: Russia-Taliban Bounties Leave Financial Trail, Goldman Sachs Seeks to Avoid 1MDB Guilty Plea, and More

Europe's central bank withdraws Satabank's license, Germany declined to supervise Wirecard, and more, in this week's roundup.

July 2, 2020

OFAC Stretches Sanctions Authority to Tackle Cyberthieves: Sources

By : Valentina Pasquali

July 1, 2020

European Banking Authority Unsuited for Broad AML Role, Says Director

By : Gabriel Vedrenne

June 30, 2020

Enforcement Actions

NYSDFS Issues $150 Million Penalty Against Deutsche Bank, Related Entities in Connection with Jeffrey Epstein Transactions, Correspondent Banking Failures

The New York State Department of Financial Services issued a consent order against the Frankfurt, Germany bank, its New York, NY-based branch and its trust company for failure to properly monitor suspicious transactions associated with convicted sex offender Jeffrey Epstein.

July 6, 2020

SEC: Alexion Pharmaceuticals, Inc. to Pay Over $21 Million to Settle FCPA Charges

The U.S. Securities and Exchange Commission issued an order requiring the Boston, MA-based pharmaceutical company to pay over $21 million to resolve Foreign Corrupt Practices Act charges.

July 2, 2020