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December 16, 2016: FinCEN extends FBAR deadline for some
Two notices from FinCEN – one a general change in FBAR (Reports of Foreign Bank and Financial Accounts), the other an extensions for certain people covered under a rulemaking change which is not yet...
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US Citizen Charged in Iran sanctions money laundering
Department of Justice U.S. Attorney’s Office District of Alaska FOR IMMEDIATE RELEASE Thursday, December 15, 2016 U.S. Citizen Charged with Conspiring to Provide Unlawful Services to Iran and...
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Share and share alike, says FinCEN
FinCEN Issues Guidance on Sharing Suspicious Activity Reports with U.S. Parents and Affiliates of Casinos The Financial Crimes Enforcement Network (FinCEN) issued guidance today to confirm that,...
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Western Union to Transfer $586 Million to US government…
FinCEN imposed a $184 million Civil Monetary Penalty (CMP) for Western Union’s failure to establish and maintain an adequate AML program prior to 2012. In their press release, they call out poor or...
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Same old, same old
FOR IMMEDIATE RELEASE: Statement from a Treasury Spokesperson: 1/19/2017 To ensure the smooth continuity of leadership at the Department of the Treasury, Acting Under Secretary Adam Szubin will serve...
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7 not lucky for Las Vegas Sands
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, January 19, 2017 Las Vegas Sands Corporation Agrees to Pay Nearly $7 Million Penalty to Resolve FCPA Charges Related to...
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January 26, 2017: HK SFC AML/CFT Circular
Circular to Licensed Corporations and Associated Entities Anti-Money Laundering / Counter Financing of Terrorism (“AML/CFT”) Compliance with AML/CFT Requirements The SFC has identified compliance...
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AUSTRAC proposes money remitter changes to AML/.CTF Rules
Draft amendments to the AML/CTF Rules available for consultation 12 January 2017 These draft amendments to Chapter 59 implement a recommendation of the Post-Implementation Review of Chapters 58 and...
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January 27, 2017: NY DFS, FCA Fine Deutsche Bank for AML Failures
The New York Department of Financial Services (NY DFS) fined Deutsche Bank $425 million and the UK’s Financial Conduct Authority (FCA) fined them an additional 163MM GBP. The DFS News Release: Press...
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Swiss penalize Coutts for AML Failures – Big League
FINMA sanctions Coutts for 1MDB breaches Coutts & Co Ltd has seriously breached money laundering regulations by failing to carry out adequate background checks into business relationships and...
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FinCEN penalizes Merchants Bank of California $7MM
On Monday, the Financial Crimes Enforcement Network, or FinCEN, announced a $7MM Civil Monetary Penalty (CMP) against Merchants Bank of California for failing to establish an adequate AML program,...
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February 23, 2017: FinCEN renews Real Estate GTO
FinCEN Renews Real Estate “Geographic Targeting Orders” to Identify High-End Cash Buyers in Six Major Metropolitan Areas Contact Steve Hudak 703-905-3770 Immediate Release February 23, 2017...
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HK SFC AML Enforcement Action: Guangdong Securities
Latest update 最新訊息 SFC reprimands and fines Guangdong Securities Limited $3 million for breach of anti-money laundering guidelines 6 Mar 2017 The Securities and Futures Commission (SFC) has...
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You don’t need to have a predicate crime…
Sometimes, laundering money is enough… Department of Justice U.S. Attorney’s Office District of Connecticut FOR IMMEDIATE RELEASE Thursday, February 16, 2017 Chinese Citizen Pleads Guilty to...
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Bank of Williamson forfeits $1.36 MM in structured funds
Department of Justice U.S. Attorney’s Office Southern District of West Virginia FOR IMMEDIATE RELEASE Wednesday, March 1, 2017 U.S. Attorney Carol Casto announces forfeiture of over $1 million in...
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March 10, 2017: HK SFC AML/CTF Circular
On March 10, the Hong Kong Securities and Futures Commission (SFC) issued a AML/CTF Circular. This Circular included updates by the United Nations ISIL (Da’esh) and Al-Qaida Sanctions Committee...
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HK SFC fines firm HKD 2.6MM for AML failures
SFC reprimands and fines Zhongtai International Securities Limited $2.6 million for non-compliance with anti-money laundering regulatory requirements 14 Mar 2017 The Securities and Futures Commission...
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March 22, 2017: FINTRAC issues updated FATF-related guidance
March 22, 2016 – FINTRAC Advisory: Financial transactions related to countries identified by the Financial Action Task Force (FATF) Financial transactions related to countries identified by the...
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March 23, 2017: FINTRAC provides guidance for updated AML regs
Amendments to regulations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) This guidance provides information about certain amendments to the Proceeds of Crime...
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HKMA Enforcement Action: Coutts and Company
Press Releases The Monetary Authority reprimands and fines Coutts & Co AG, Hong Kong Branch (also known as Coutts & Co Ltd, Hong Kong Branch) for contraventions of the Anti-Money Laundering...
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