Topic: Anti-money laundering

Joe Biden has defeated Donald Trump to become the United States’ next president – triggering an overhaul of the federal government and its regulatory agencies. What can banking regulation practitioners around the world expect from the new administration?

19 November 2020

Demarest partner Fabio de Almeida Braga outlines what practitioners need to know about Brazil’s new risk-based approach to anti-money laundering and countering the financing of terrorism.

10 November 2020

Goldman Sachs has been ordered to improve its risk management and oversight procedures after settling with 10 regulators in five jurisdictions over an alleged multibillion-dollar bribery and embezzlement scheme with respect to Malaysian fund 1MDB.

29 October 2020

The Hong Kong Monetary Authority has told banks they should report violations of the territory’s controversial National Security Law as they would anti-money laundering/counter-financing of terrorism violations.

22 October 2020

In the first significant change to its Bank Secrecy Act regulations in four years, US enforcement agency FinCEN has released proposals that would more explicitly define the statute’s requirements for “effective and reasonably designed” anti-money laundering programmes.

17 September 2020

The prospect of an EU-wide AML regulation with direct effect moved a step closer this week, after the European Banking Authority backed the idea citing concerns over regulatory arbitrage.

15 September 2020

Latvia’s banking regulator has announced new anti-money laundering and counter-terrorism financing guidance, after fining local outfit Signet Bank €906,000 for AML failings.

26 August 2020

UK ministers have approved new anti-money laundering guidance with special provisions on crypto-asset exchange providers, custodian wallet providers and pooled client accounts.

21 August 2020

José Eduardo Carneiro Queiroz, managing partner of top-tier Brazilian firm Mattos Filho, and considered one of the country’s sharpest minds in the banking and capital markets fields, has died unexpectedly aged 49.

24 July 2020

The Monetary Authority of Singapore has issued a proposal seeking new powers to regulate crypto-asset providers and cybersecurity risks, and to expand its ability to issue prohibition orders.

22 July 2020