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Cole2

May

17

‘Cole Memo’ Author Supports Call for New Marijuana Banking Guidance

Then U.S. Deputy Attorney General James Cole is sworn in before a congressional committee on Wednesday, Feb. 28, 2014. Calls are growing for FinCEN to revisit marijuana-related guidance based on the “Cole Memo,” which he authored. (Getty)

More News

Weekly Roundup: Deepfake Clone Dupes British Company, Investment Manager Pleads Guilty, and More

Records leak exposes real-estate vulnerability in Dubai, U.S. officials consider AML rules for atttorneys, and more, in the weekly roundup.
May 17, 2024

Breaking May 16, 2024: 1:35 pm ET

US Officials Still Considering AML Rules for Attorneys

Midweek Roundup: US Officials Warned Raiffeisen Bank, Leaked Records Expose Dubai Real Estate Sector, and More

SEC proposes AML rules for investment advisers, Dutch court jails Tornado Cash developer, and more, in the midweek roundup.
May 15, 2024

French Lawmakers Protest Dubai Delisting, Want Stronger Hand for VASPs

By Gabriel Vedrenne

A panel of French lawmakers recommended Tuesday that regulators use fake identities to test due diligence at virtual asset service providers, and separately criticized the United Arab Emirates' removal from a list of countries with substandard efforts against illicit finance.
May 15, 2024

SEC Proposes Beneficial Ownership Requirement for US Investment Advisers

By Fred Williams

A federal proposal to fill a multi-trillion dollar gap in U.S. anti-financial crime defenses would require thousands of investment advisers to drop clients whose identities they fail to obtain, including any legal entities whose beneficial owners or controllers remain hidden from them.
May 15, 2024
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Enforcement Actions

FDIC: Bank of England Agrees to Pay $1.5 Million for Consumer Protection Violations

The Federal Deposit Insurance Corporation entered into a settlement with the England, AR-based bank to resolve breaches of several consumer protection laws.
May 17, 2024

AUSTRAC: SkyCity Adelaide Pty Ltd to Pay AU$67 Million for AML/CTF Contraventions

The Australian Transaction Reports and Analysis Centre filed joint submissions with the Adelaide, Australia-based casino in the Federal Court of Australia that proposes a AU$67 million penalty for violations of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
May 17, 2024

CFTC Orders Falcon Labs, Ltd to Pay Nearly $1.8 Million for Facilitating Access to Digital Asset Exchanges

May 13, 2024

DOJ: Kabbage Inc. Agrees to Bankruptcy Claim of $120 Million to Resolve False Claims Act, BSA Violations

May 7, 2024

Estonia FSA Fines AS SEB Pank €1 Million for AML/CTF Breaches

June 25, 2020
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Legs & Regs

OFSI Adds Russian Entity to Consolidated Sanctions List

HM Treasury’s Office of Financial Sanctions Implementation issued a notice concerning the addition of one entity to the consolidated list entry pursuant to the Russia (Sanctions) (EU Exit) Regulations 2019.

May 17, 2024

UK Announces Sanctions Targeting Illicit North Korean Arms Transfers to Russia

The Foreign, Commonwealth and Development Office announced a new package of sanctions targeting one individual and three entities involved in Russia and North Korea’s illicit arms-for-oil partnership.

May 17, 2024

EU Suspends Broadcasts of Russian Propaganda Media

The Council of the European Union adopted Council Regulation (EU) 2024/1428 which amends restrictive measures against Russia for its ongoing military action against Ukraine.

May 17, 2024

OFSI Adds Individual, Two Entities to North Korea Sanctions List

HM Treasury’s Office of Financial Sanctions Implementation released a notice concerning the addition of one individual and two entities to the consolidated list pursuant to the Democratic People’s Republic of Korea (Sanctions) (EU Exit) Regulations 2019.

May 17, 2024

Financial Crime Matters: AFC Pros Highlight the Past, Present and Future of AML

Financial Crime Matters: AFC Pros Highlight the Past, Present and Future of AML
August 10, 2023

In the latest episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, talks with anti-financial crime professionals Rick Small, Dan Soto and John Byrne about how the AML landscape has evolved since they began their careers more than 40 years ago.

Edmund Fitton-Brown on Yemen and the Houthis

Wagner
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.

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More News

Weekly Roundup: Deepfake Clone Dupes British Company, Investment Manager Pleads Guilty, and More

Records leak exposes real-estate vulnerability in Dubai, U.S. officials consider AML rules for atttorneys, and more, in the weekly roundup.
May 17, 2024

Breaking May 16, 2024: 1:35 pm ET

US Officials Still Considering AML Rules for Attorneys

Midweek Roundup: US Officials Warned Raiffeisen Bank, Leaked Records Expose Dubai Real Estate Sector, and More

SEC proposes AML rules for investment advisers, Dutch court jails Tornado Cash developer, and more, in the midweek roundup.
May 15, 2024

French Lawmakers Protest Dubai Delisting, Want Stronger Hand for VASPs

By Gabriel Vedrenne

A panel of French lawmakers recommended Tuesday that regulators use fake identities to test due diligence at virtual asset service providers, and separately criticized the United Arab Emirates' removal from a list of countries with substandard efforts against illicit finance.
May 15, 2024

SEC Proposes Beneficial Ownership Requirement for US Investment Advisers

By Fred Williams

A federal proposal to fill a multi-trillion dollar gap in U.S. anti-financial crime defenses would require thousands of investment advisers to drop clients whose identities they fail to obtain, including any legal entities whose beneficial owners or controllers remain hidden from them.
May 15, 2024
lock

Enforcement Actions

FDIC: Bank of England Agrees to Pay $1.5 Million for Consumer Protection Violations

The Federal Deposit Insurance Corporation entered into a settlement with the England, AR-based bank to resolve breaches of several consumer protection laws.
May 17, 2024

AUSTRAC: SkyCity Adelaide Pty Ltd to Pay AU$67 Million for AML/CTF Contraventions

The Australian Transaction Reports and Analysis Centre filed joint submissions with the Adelaide, Australia-based casino in the Federal Court of Australia that proposes a AU$67 million penalty for violations of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
May 17, 2024

CFTC Orders Falcon Labs, Ltd to Pay Nearly $1.8 Million for Facilitating Access to Digital Asset Exchanges

May 13, 2024

DOJ: Kabbage Inc. Agrees to Bankruptcy Claim of $120 Million to Resolve False Claims Act, BSA Violations

May 7, 2024

Estonia FSA Fines AS SEB Pank €1 Million for AML/CTF Breaches

June 25, 2020