Canada revenue agency AML enforcement with RCMP
Money laundering scheme: enforcement measures taken by the Canada Revenue Agency in a joint investigation with the Royal Canadian Mounted Police February 12, 2019 Montréal, Quebec Canada Revenue...
View ArticleAnother Canada Revenue Agency AML enforcement
Ottawa dentist sentenced for tax fraud and laundering proceeds of crime January 17, 2019 Ottawa (Ontario) Canada Revenue Agency The Canada Revenue Agency (CRA) announced...
View ArticleAussie audit of PayPal
AUSTRAC orders audit of PayPal Australia’s compliance with financial crime laws 24 Sep 2019 AUSTRAC has ordered the appointment of an external auditor to examine ongoing concerns in regard to PayPal...
View ArticleSeptember 10, 2019: AUSTRAC fines Compass Global Holdings
AUSTRAC issues $252,000 infringement notice to Compass 10 Sep 2019 AUSTRAC has issued a $252,000 infringement notice to Compass Global Holdings Pty Ltd (Compass) for failing to report international...
View ArticleAUSTRAC goes after unregistered MSBs…
AUSTRAC launches campaign against illegal money transfer dealers 27 Aug 2019 AUSTRAC has launched a campaign targeting illegal money transfer dealers. Money transfer dealers that have not registered...
View ArticleAUSTRAC audits Afterpay
AUSTRAC orders audit of Afterpay’s compliance with financial crime legislation 13 Jun 2019 AUSTRAC has ordered the appointment of an external auditor to Afterpay Pty Ltd (Afterpay) to examine its...
View ArticleOctober 25, 2019: Iran now a PMLC, and humanitarian assistance mechanism...
On Friday, Treasury imposed Special Measure 5 (i.e. no correspondent banking accounts allowed) on Iran, but announced how Iran could still get humanitarian assistance: PRESS RELEASES Treasury and State...
View ArticleFinanstilsynet inspection of Danske Bank’s Finnish corporate loan business
Statement of inspection in Danske Bank A / S (appropriations of Finnish corporate loans) In June 2019, the Danish FSA was on inspection at Danske Bank’s Finnish branch. The purpose of the inspection...
View ArticleFinanstilsynet inspection of Josie Realkredit outsourcing
Statement of inspection in Jyske Realkredit A / S (outsourcing) In May 2019, the Danish FSA was on inspection in Jyske Realkredit A / S regarding the institute’s use of outsourcing. The inspection...
View ArticleMay 10, 2019: Central Bank of Ireland fines Campbell O’Connor & Company for...
On 8 May 2019, the Central Bank of Ireland (the “Central Bank”) reprimanded and imposed a fine of €280,000 on Campbell O’Connor & Company (the “Firm”) for five breaches of the Criminal Justice...
View ArticleBank of England/FCA machine learning survey
Published on 16 October 2019 In the financial services industry, the application of machine learning (ML) methods has the potential to improve outcomes for both businesses and consumers. In recent...
View ArticleFinanstilsynet inspection of Merex International A/S
Statement of inspection in Merex International A / S (money laundering area) In January 2018, the Danish FSA was at the money laundering inspection of Merex International A / S. The inspection...
View ArticleNovember 8, 2019: FinCEN renews the Real Estate GTO?
FinCEN Reissues Real Estate Geographic Targeting Orders for 12 Metropolitan Areas Contact Steve Hudak, 703-905-3770 Immediate Release November 08, 2019 WASHINGTON—The Financial Crimes Enforcement...
View ArticleNovember 14, 2019: FINTRAC updates identity verification guidance, Guideline 5
FINTRAC updates its Methods to verify the identity of an individual and confirm the existence of a corporation or an entity other than a corporation guidance After consulting and working closely with...
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HKMA holds RegTech forum
22 Nov 2019 Hong Kong Monetary Authority (HKMA) fosters a diversified ecosystem for Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) Regulatory Technology (RegTech) The HKMA hosted...
View ArticleFinanstilsynet inspection: Handelsbanken
Statement on inspection in Handelsbanken, branch of Svenska Handelsbanken AB (publ), Sweden (money laundering area) In March 2019, the Danish FSA was on inspection in Handelsbanken, a branch of...
View ArticleFinanstilsynet publishes its AML seminar materials
Money Laundering Seminar 2019 We have gathered all the slides from the seminar in one document. On 18 November 2019, the Danish FSA held the first annual money laundering seminar. We thank you for the...
View ArticleFinanstilsynet publishes new virtual currency rules
New rules for virtual currency and fiat currency exchange providers as well as virtual wallet providers. Pr. January 10, 2020, everyone must be registered with the Danish Financial Supervisory...
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OFAC designates Evil Corp under cyber sanctions, and removes a terrorist
Earlier today, OFAC added the following persons: ALVARES, Carlos, Moscow, Russia; DOB 18 May 1971; POB Spain; Gender Male; National ID No. AV176942 (Spain) (individual) [CYBER2] (Linked To: EVIL CORP)....
View ArticleFINTRAC provides update for virtual currency dealers
Businesses dealing in virtual currencies can register with FINTRAC in advance of June 1, 2020 The Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations were...
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