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Malta Central Bank Governor Edward Scicluna Suspends Duties Amid Court Case
Malta Central Bank Governor Edward Scicluna has temporarily suspended himself from his role pending the outcome of a court case related...
Aug 2, 20241 min read
FINMA Scrutinizes UBS’s Vetting of Risky Credit Suisse Clients Amid Integration Efforts
Switzerland’s financial supervisor, FINMA, has been closely examining how UBS vets high-risk wealthy clients from Credit Suisse as part...
Aug 1, 20243 min read
Rise in Finance Firms Testing AI for Compliance and Risk Management, Moody's Study Reveals
A growing number of finance firms are exploring the use of AI for compliance and risk management, according to a recent study by Moody's....
Jul 31, 20242 min read
Russian Billionaire Petr Aven’s Estate Forfeits £784,000 in Landmark NCA Investigation
In a landmark decision, the estate of Russian billionaire Petr Aven has agreed to forfeit £784,000 following a milestone investigation by...
Jul 30, 20242 min read
UK Banks Collaborate with NCA in Major Anti-Financial Crime Initiative
In a groundbreaking initiative, seven major UK banks, including Barclays, NatWest, and Lloyds, have begun sharing financial crime data...
Jul 29, 20244 min read
Coinbase Fined £3.5 Million by UK’s FCA for Lax Money Laundering Controls
Coinbase, one of the largest cryptocurrency exchanges globally, has been fined £3.5 million ($4.5 million) by the UK's Financial Conduct...
Jul 26, 20242 min read
MONEYVAL Commends Jersey's AML Efforts, Urges Greater Focus on Practical Enforcement
MONEYVAL has given Jersey a broadly positive review in its latest in-depth assessment, indicating that the British Crown Dependency has...
Jul 25, 20242 min read
New Beneficial Ownership Reporting Requirements to Cost U.S. Financial Institutions $200 Million Annually
New beneficial ownership reporting requirements are projected to cost U.S. financial institutions around $200 million per year once fully...
Jul 24, 20242 min read
Federal Regulators Propose Enhanced AML/CFT Risk Assessments for Financial Institutions
Four federal banking regulators, alongside the Treasury Department’s Financial Crimes Enforcement Network (FinCEN), have issued a notice...
Jul 23, 20242 min read
FCA Urges Banks to Ensure Fair Treatment of UK Lawmakers and Their Families
The U.K.’s Financial Conduct Authority (FCA) has called on banks and financial institutions to enhance their efforts to ensure that U.K....
Jul 22, 20242 min read
FCA Urges Fair Treatment of Politically Exposed Persons in Financial Firms
The UK’s Financial Conduct Authority (FCA) has urged financial firms, including banks, payment firms, and lenders, to ensure that...
Jul 19, 20242 min read
Experts Call for Further Reforms as FCA Revamps London Stock Exchange Rules
The U.K. Financial Conduct Authority (FCA) is overhauling the rules of the London Stock Exchange (LSE), but experts believe additional...
Jul 18, 20243 min read
U.S. Agencies Warn Timeshare Owners of Rising Mexican Cartel Activity
A coalition of prominent U.S. official agencies has issued a warning to U.S. timeshare owners, urging them to stay vigilant against...
Jul 17, 20242 min read
FATF Scrutinized Over Allegations of Facilitating Political Abuse
The Financial Action Task Force (FATF) has recently come under fire for claims that its anti-money laundering (AML) recommendations are...
Jul 16, 20242 min read
Dutch FIU Criticizes Banks' Decision to Wind Down AML Coalition
The Dutch Financial Intelligence Unit (FIU-Nederland) has expressed concerns over the decision by the country’s main banks to wind down...
Jul 15, 20242 min read
Treasury Secretary Janet Yellen Affirms Deadline for Beneficial Ownership Reporting
Janet Yellen, the Secretary of the U.S. Department of the Treasury, has confirmed that there are no plans to extend the deadline for...
Jul 12, 20242 min read
HMRC Focuses on Compliance for UK Companies with Non-Resident Directors
Lewin Higgins-Green of FTI Consulting highlights the importance for UK companies to ensure their compliance with Non-Resident Director...
Jul 11, 20243 min read
FATF Accuses U.S., China, and Australia of Enabling Financial Crime in Shocking Report
On Monday, the Financial Action Task Force (FATF) stunned the anti-money laundering (AML) community by effectively accusing the United...
Jul 10, 20242 min read
DBS Hong Kong Fined HK$10 Million for AML Violations by Hong Kong Regulator
The Hong Kong unit of DBS Group Holdings, Singapore’s largest lender, has been fined HK$10 million ($1.28 million) by Hong Kong’s banking...
Jul 9, 20241 min read
Nordea Faces Charges for Multiple Violations of Denmark’s AML Laws
Nordea, the largest bank in the Nordic region, has been charged with multiple violations of Denmark’s anti-money laundering (AML) laws in...
Jul 8, 20242 min read
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