Topic: Anti-money laundering

A former director and deputy director of the US Treasury’s financial crime unit have backed a Utah brokerage’s attempt to block the Securities and Exchange Commission from directly enforcing Bank Secrecy Act violations.

24 August 2021

The EBA has proposed new guidelines that lay out its expectations of firms’ anti-money laundering compliance officers, set to be the first of their kind and which it says will streamline compliance across the EU.

04 August 2021

The EU is set to get a new anti-money laundering authority, a single EU rulebook, and tightened oversight of cryptocurrency transactions as part of a package of wide-spreading proposals to reform the its AML controls.

21 July 2021

Critics have called FinCEN’s first set of national anti-money laundering priorities too broad for banks to find useful, with tighter regulations not expected for months.

01 July 2021

Following industry pushback, Hong Kong’s government has proposed a compromise on plans to require a “local anchorage” for virtual asset service providers seeking a licence in the territory, as part of an update to its anti-money laundering framework.

24 May 2021

Amsterdam-based lender ABN Amro has agreed to pay €480 million to resolve an investigation into “serious shortcomings” in its anti-money laundering procedures.

23 April 2021

The US Treasury’s Financial Crimes Enforcement Network has released an advance notice of proposed rulemaking for its “vast” new beneficial ownership reporting requirements, as its director Kenneth Blanco announces his departure to head Citi’s new financial crimes unit.

06 April 2021

Thomas Cattee, white-collar crime specialist at Gherson in London, examines the Financial Conduct Authority’s recently-launched criminal proceedings against NatWest – the first case it has brought against a bank under the Money Laundering Regulations 2007.

01 April 2021

The Dutch government has hired the head of the European Union’s securities regulator to lead its banking supervision department.

25 March 2021

Switzerland’s banking regulator has told crypto broker Bitcoin Suisse its application for a banking licence is “ineligible for approval”, after it uncovered weaknesses in its money laundering defence mechanisms.

18 March 2021