Latest Sanctions Evasion Threats
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NewsFormer Europol director to kick off two days of debate at FinCrime World Forum
Sir Rob Wainwright will kick off two days of debate, insight and virtual networking at the FinCrime World Forum next month.
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News
Denmark improves FATF compliance overall but downgraded on efforts to regulate VASPs
Denmark’s efforts to improve its anti-money laundering (AML) legislation have been rewarded with a higher technical compliance rating in five areas, but has been downgraded on its efforts to curb Virtual Asset Service Providers (VASPs)
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Blog
Financial crime co-operation should continue despite Brexit Trade Agreement changes
The Trade & Cooperation Agreement which came into effect last month marks the start of a new financial crime fighting relationship between the United Kingdom and European Union, writes Francesca Titus
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Blog
The complicated relationship between UK sanctions and Brexit
The sanctions regime in the United Kingdom and Europe is becoming much more complicated due to Brexit and compliance professionals are watching closely. The International Compliance Association and UK Finance explain more.
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News
UK authorities eye crackdown on company formation agents’ laundering
The United Kingdom’s National Crime Agency (NCA) is planning a crackdown on company formation agents in a bid to tackle money laundering.
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News
Luxembourg government hits back at reports country is haven for money laundering
The Luxembourg government has sought to counter allegations that the country is a haven for money laundering and tax evasion, following a damning report by journalists.
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News
US seizes Iranian oil tanker over alleged terrorist group funding links
The United States has seized an Iranian oil tanker and is seeking a forfeiture order over alleged links to terrorist financing.
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Blog
Brexit trade agreement fails to replicate financial crime information-sharing
The Trade & Co-operation agreement will see the UK lose access to information but hopefully common sense will prevail, writes Michael Hatchwell
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Report
Not enough needles and too much hay: the problem with Suspicious Activity Reports
The FinCEN Files shed a light on a creaking system under which millions of reports of suspicious activity are filed to over-stretched authorities every year. FinCrime Report examines how to make it easier for government agencies to find the useful “needles” in the “haystack” of SAR reports.
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News
European Commission takes aim at unilateral sanctions by ‘third-countries’ as it unveils strategy to strengthen financial system
The European Commission has published a new strategy to strengthen Europe’s financial system, including measures to tackle the impact of ‘unlawful’ unilateral sanctions imposed by ‘third-country partners’.
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News
Total AML fines triple as China clamps down on payment providers
The People’s Bank of China (PBOC) levied three times as much money in fines for anti-money laundering (AML) breaches in 2020 as it did in the previous 12 months, according to a new report.
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Blog
A look ahead: the US Anti-Money Laundering Act of 2020
The new Anti-Money Laundering Act in the US has now passed into law. Chris Siddons of LexisNexis Risk Solutions explains why it is set to become the most significant piece of US financial crime legislation for years.
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News
Landmark US AML and corporate transparency bill enacted into law
A landmark piece of legislation that will establish a register of beneficial owners and strengthen anti-money laundering has been enacted into law.
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News
US SANCTIONS: Airbnb admits it may have breached Cuban sanctions; Western Union halts Cuba transactions; Trump imposes fresh restrictions related to China and Iran
AirBnb has admitted it may have breached US sanctions and could face litigation.
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Report
The land of the free: combatting financial crime in the US
So we now know that we will have a new US President. FinCrime Report looks at the key issues for anti-money laundering regulation stateside ahead of the Joe Biden era.
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News
UK Treasury Committee announces fresh inquiry into financial crime
An influential cross-party group of lawmakers in the UK has launched a follow-up enquiry into financial crime following the release of the FinCEN Files last month.
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News
US Treasury warns making ransomware payments could breach sanctions regulations
The US Treasury department has warned that facilitating payments to cybercriminals to remove ransomware from IT systems risks breaching sanctions regulations.
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News
British MPs write to ministers to demand AML answers as FinCEN Files blame game begins
The chair of a UK parliamentary committee has written to government ministers and watchdog heads after the country’s anti-money laundering controls were put under the spotlight by the FinCEN Files.
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News
Deutsche Bank agrees to pay $583k to settle sanctions violation case
The United States Treasury Department has announced that Deutsche Bank will pay $583,100 in settlements for “apparent violations of Ukraine-related sanctions regulations.”
