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FinCEN Proposes Rule to Enhance AML Standards for U.S. Financial Institutions
The Financial Crimes Enforcement Network (FinCEN), the financial crime unit of the U.S. Treasury, has put forward a new rule designed to...
Jul 2, 20242 min read
Monaco Added to FATF Greylist, Turkey and Jamaica Removed
The tiny European principality of Monaco, a haven for the world’s super-rich, was on Friday added to the FATF greylist, alongside...
Jul 1, 20243 min read
New EU Anti-Money Laundering Agency Framework Comes Into Effect
Today marks the enforcement of the regulation establishing the European Union’s new Anti-Money Laundering Authority (AMLA). Until the end...
Jun 28, 20242 min read
Singapore Faces Heightened Money Laundering Risks, Says PM Lawrence Wong
Singapore faces higher money laundering and terrorism financing risks compared to other countries due to its status as an international...
Jun 27, 20243 min read
Julian Assange Released from British Prison, Expected to Plead Guilty to Violating US Espionage Law
Julian Assange, 52, has been released from a British prison and is anticipated to plead guilty to a US espionage charge, facilitating his...
Jun 26, 20243 min read
Monaco Faces Potential Greylisting by FATF at Upcoming Singapore Plenary
The city-state of Monaco is on the brink of being greylisted at the Financial Action Task Force (FATF) plenary set to take place this...
Jun 25, 20242 min read
EU's AMLA to Regulate Largest Financial Institutions Across Multiple Member States
The establishment of the EU’s Anti-Money Laundering Authority (AMLA) marks a significant shift in the world of anti-money laundering...
Jun 21, 20242 min read
British Virgin Islands ITA Issues New Economic Substance Rules: UAE Removed from No-Tax Jurisdiction List
On April 2, the British Virgin Islands’ International Tax Authority (ITA) released Version 4 of its Rules on Economic Substance (ES),...
Jun 20, 20242 min read
Wolfsberg Group Opposes Mandatory Enhanced Due Diligence for Customers from FATF Grey-Listed Countries
The Wolfsberg Group has voiced opposition to a proposal that would enforce a mandatory higher level of customer due diligence on...
Jun 19, 20242 min read
Nigeria Drops Tax Evasion Charges Against Binance Executives
In a significant development on Friday, Nigeria dropped tax evasion charges against two Binance executives following the appointment of a...
Jun 18, 20241 min read
EU to Implement Comprehensive Anti-Corruption Laws Across Member States
The Council of the EU has announced new legislation introducing a range of anti-corruption offences and penalties to be enforced across...
Jun 17, 20242 min read
FinCEN Director Andrea Gacki Assures Small Businesses on Beneficial Ownership Reporting Requirements
FinCEN (Financial Crimes Enforcement Network) Director Andrea Gacki has reassured small businesses that the new beneficial ownership...
Jun 14, 20242 min read
Hong Kong Police Arrest 175 Suspects in $100 Million Scam Operation
Hong Kong police have apprehended 175 individuals suspected of involvement in various scams that defrauded hundreds of victims out of...
Jun 13, 20242 min read
Moldova Struggles with Virtual Asset Regulation Despite Improvements in Anti-Terrorism Financing
The Republic of Moldova has made strides in preventing terrorist financing, yet continues to face significant shortcomings in its...
Jun 12, 20242 min read
TD Bank Faces Potential $4 Billion in Fines Over U.S. AML Failures, Analysts Warn
Analysts have indicated that fines against TD Bank related to a series of anti-money laundering (AML) failures at its U.S. operations...
Jun 11, 20242 min read
SkyCity to Pay $70 Million in Penalties Following Anti-Money Laundering Failures at Adelaide Casino
SkyCity is set to pay $70 million in penalties and legal costs after a series of anti-money laundering (AML) failures at its Adelaide...
Jun 10, 20242 min read
Gangs Recruit Australian Money Mules for Up to AUS$500 and Commission, AUSTRAC Warns
Gangs are offering Australian money mules up to AUS$500 and a commission for the use of their bank accounts, according to the country’s...
Jun 7, 20242 min read
CFO of The Epoch Times Arrested for Allegedly Laundering $67 Million in Stolen Funds
The Chief Financial Officer of US media group The Epoch Times, Weidong Guan, also known as ‘Bill’ Guan, has been arrested and charged in...
Jun 6, 20242 min read
Former TD Bank Employee Accused of Falsifying Documents and Facilitating Cross-Border Cash Flow
A former TD Bank employee has been accused of falsifying documents to open dozens of accounts and providing concierge-like services to...
Jun 5, 20242 min read
Investigation Uncovers Money Laundering Risks with Independent ATMs in the Netherlands
Independent ATMs not linked to banks are being used for money laundering in the Netherlands, an investigation has revealed. The Dutch...
Jun 4, 20242 min read
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