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

EU Amends Mali Sanctions Regime

The Council of the European Union adopted Council Regulation (EU) 2024/1205 which amends restrictive measures imposed in light of the Mali situation.

April 23, 2024

Unsealed Indictment Accuses Ten of Sanctions Evasion Conspiracy

The U.S. Justice Department announced the unsealing of an indictment that accuses 10 individuals of conspiring to evade U.S. sanctions.

April 22, 2024

US, Poland Enhance Strategic Partnership

The governments of the U.S. and Poland issued a joint statement following their strategic dialogue, which was held in Washington on April 22, 2024.

April 22, 2024

FCA Chief Executive Discusses Digital Regulation, Industry Collaboration

U.K. Financial Conduct Authority Chief Executive Nikhil Rathi delivered remarks at the Digital Regulation Cooperation Forum on the legislative foundations for the development of artificial intelligence governance in the financial sector.

April 22, 2024

Financial Crime Matters: Ex-OCC Official Discusses Recent FinCEN Rulemaking

March 25, 2024

In this episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, and Daniel Stipano, former deputy chief council for the OCC, discuss the Corporate Transparency Act and FinCEN’s creation of a national database of beneficial owners.

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 Europe

DATE: 05/7/24 - 05/8/24

LOCATION: Amsterdam, The Netherlands, Netherlands

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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.

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More News

FinCEN’s 3rd Attempt to Regulate Investment Advisers Meets Same Resistance

By Fred Williams

A federal plan that would set minimum standards for "certain investment advisers" in the U.S. to report suspicious transactions duplicates existing requirements and unnecessarily burdens small, low-risk businesses, a majority of commenters wrote in response to the proposal.

April 22, 2024

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

Enforcement Actions

SRA Fines Individual Solicitor Over £11,000 for Violating MLRs, Other Breaches

The Solicitor Regulation Authority decided that Albert Partington, a solicitor and director of Ogden Lyles & Fox, must pay a fine of £11,013.67 for violating the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and other breaches of conduct.

April 19, 2024

HKMA Fines Branch of Hua Nan Commercial Bank, Ltd HK$9 Million for Breaching AML/CTF Rules

The Hong Kong Monetary Authority disciplined a branch of the Taipei, Taiwan-based financial institution for breaching the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.

April 19, 2024