December 10, 2018: FINMA sets AML due diligence requirements for Fintechs
10 December 2018 Press release FinTech licence: FINMA sets out details of anti-money laundering due diligence requirements The Swiss parliament has launched a new licensing category for FinTech...
View ArticleDecember 10, 2018: FinCEN extends FBAR deadline (for some) (again)
FBAR Filing Requirement for Certain Financial Professionals FinCEN Notice 2018-1 Extended Filing Date Related to Notice 2017-1 The Financial Crimes Enforcement Network (FinCEN) is announcing a further...
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Finanstilsynet Enforcement Action: Iftin Express
Statement of Inspection in Iftin Express v / Said Mohamed Said Jama (Laundering) Finanstilsynet was in November 2017 on inspection in Iftin Express v / Said Mohamed Said Jama. Summary and risk...
View ArticleFinCEN Enforcement Action: UBS Financial Services fined $14.5 million
FinCEN Assesses $14.5 Million Penalty against UBS Financial Services for Anti-Money Laundering Failures WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced an assessment...
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FATF upgrades its evaluation of Denmark’s AML/CTF framework
FATF upgrades Denmark’s efforts to prevent money laundering and terrorist financing The Financial Action Task Force (FATF) has upgraded Denmark during its plenary session in October 2018. Denmark’s...
View ArticleFinanstilsynet Enforcement Action: Basisbank
Statement of Inspection in Basisbank A / S (Money Laundering) Finanstilsynet was in September 2018 on inspection in Basisbank A / S. The inspection was a study of the white-water area as part of the...
View ArticleHKMA Enforcement Action: JPMorgan Chase fined HKD 12,500,000
Press Releases The Monetary Authority reprimands and fines JPMorgan Chase Bank, National Association, Hong Kong Branch for contraventions of the Anti-Money Laundering and Counter-Terrorist Financing...
View ArticleFINTRAC updates guidance documents
FINTRAC has published new suspicious transaction guidance FINTRAC has published new suspicious transaction guidance: “What is a suspicious transaction report”, “Reporting suspicious transactions to...
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OCC Cease and Desist Order: MUFG Bank
Office of the Comptroller of the Currency Ensuring a Safe and Sound Federal Banking System for All Americans NR 2019-20 FOR IMMEDIATE RELEASE February 22, 2019 Contact: Bryan Hubbard (202)...
View ArticleHong Kong SFC issues AML/CTF FAQs
Circular to Licensed Corporations and Associated Entities Anti-Money Laundering / Counter-Financing of Terrorism Frequently Asked Questions The Securities and Futures Commission (“SFC”) today published...
View ArticleHM Treasury Advisory on high risk jurisidctions
On February 26, HM Treasury issued the following advisory, including the latest public statement from the Financial Action Task Force (FATF): HM Treasury Advisory Notice: Money Laundering and Terrorist...
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Hong Kong SFC Enforcement Action: Guosen Securities
Latest update 最新訊息 SFC reprimands and fines Guosen Securities (HK) Brokerage Company, Limited $15.2 million for breaches of anti-money laundering regulatory requirements 18 Feb 2019 The Securities...
View ArticleAnd the Danes discover phishing…
Warning against attempts at typosquatting The Danish Financial Supervisory Authority wants to draw partners attention to two so-called typosquatting domains (the domains: “finanstilsy [.] Net” and...
View ArticleRia Financial Services’ AML program passes the Finanstilsynet bar…
Report on inspection in Ria Financial Services, Denmark ApS (the laundry area) In November 2018, the Danish FSA was inspected by Ria Financial Services, Denmark ApS. The inspection was a study of the...
View ArticleMarch 8, 2019: FinCEN issues latest FATF Advisory note
On Friday, FinCEN issued an advisory based on the latest FATF pronouncements. It says, in part: On February 22, 2019, the Financial Action Task Force (FATF) updated its list of jurisdictions with...
View ArticleFinanstilsynet inspects the AML program at SEB Kort Bank AB’s Danish operation
Report on inspection in the Danish branch of SEB Kort Bank AB (the laundry area) In March 2018, the Danish FSA was inspected by the Danish branch of SEB Kort Bank AB. The inspection was a study of...
View ArticleFCA Fraud Alert: Next Coin Market
Consumer warning on Next Coin Market We believe Next Coin Market is an illegal organisation based in Bulgaria, claiming to be an FCA authorised firm offering cryptocurrencies to UK consumers. We have...
View ArticleCentral Bank of Ireland Financial Sanctions Update for March 2019
Financial Sanctions update March 2019 The Central Bank of Ireland (“Central Bank”) is responsible for the administration, supervision, and enforcement of relevant aspects of financial sanctions in...
View ArticleDanish enforcement: Capitolia ApS
Report on inspection in Capitolia ApS (the laundry area) The Danish Financial Supervisory Authority was in May 2018 an inspection of the money laundering area in Capitolia ApS. The inspection included...
View ArticleHK SFC AML/CTF Circular: FATF statements
Circular to Licensed Corporations and Associated Entities Anti-Money Laundering / Counter-Financing of Terrorism (1) FATF Statement on Democratic People’s Republic of Korea and Iran (2) FATF...
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