About Events Contact

Regulatory Update

Reset Filter

Jurisdictions

Industry Sectors

Predicate Crimes

Enforcement

Regulatory Update

Featured Regulatory Update

New York Fed cracks down on Puerto Rico banks following Venezuela sanctions

U.S. sanctions on Venezuela have led the New York Federal Reserve to crack down on Puerto Rico’s $50 billion offshore banking industry, according to four sources and a document seen by Reuters. The development will prevent the island’s offshore banks, several of which are owned by citizens of crisis-stricken Venezuela,… Read More

Enhancing Financial Inclusion: Telecoms and AML in Nigeria

The rapid development of mobile money is creating unprecedented opportunities for poor people in developing countries to more actively participate in the economy. For millions of underserved individuals around the world, a mobile phone represents more than just a tool for communication; it’s a payment terminal in the pocket. Every… Read More

Enhancing Financial Inclusion: Telecoms and AML in Nigeria

18th April 2019

Trump declares economic war on Cuba

By William M. LeoGrande, American University School of Public Affairs The Trump administration has declared the most severe new sanctions against Cuba since President John F. Kennedy imposed an economic embargo banning all trade with the communist island in 1962. Speaking in Miami on April 17,… Read More

18th April 2019

EU banking watchdog clears Estonian, Danish regulators over Danske Bank

The European Union banking watchdog said on Wednesday that its investigation into financial regulators in Estonia and Denmark in relation to suspected money laundering activities by Danske Bank did not find any breach of EU law. Danish and Estonian financial regulators have publicly blamed each other for the Danske Bank… Read More

18th April 2019

Two UK Agencies Outline Plans to Fight Financial Crime in 2020

The UK in the coming year will seek to extend a senior management accountability program to new firms, toughen its oversight of professional bodies and reform how it processes suspicious activity reports, two agencies disclosed. The Financial Conduct Authority (FCA) said in a 2019/2020 business plan published Wednesday that… Read More

17th April 2019

EU Parliament Empowers EBA, Prudential Regulators to Fight Money Laundering

EU lawmakers on Tuesday adopted measures to task the European Banking Authority (EBA) with fighting money laundering, empower prudential regulators to better address financial crime risks and protect whistleblowers. Under a legislative resolution to strengthen the bloc’s supervisory authorities, the EBA would take a “leading, coordinating and monitoring role at… Read More

17th April 2019

Turkey eyes US sanctions waivers on Iran oil, Russia arms

AP — Turkey “expects” the Trump administration to grant it waivers from U.S. sanctions related to its purchases of Iranian oil and Russian air defenses, a top aide to Turkish President Recep Tayyip Erdogan said Tuesday. Presidential spokesman and senior adviser Ibrahim Kalin told a news conference he couldn’t be… Read More

17th April 2019

Russia needs another $10 bln on banking sector clean-up – Fitch

Russia may need to spend another $10 billion in the next two or three years to continue a banking sector clean-up, which has already required eight times as much, Fitch rating agency said on Tuesday. Russia started cleaning up its banking sector in 2013 after President Vladimir Putin appointed Elvira… Read More

17th April 2019

Japan to require crypto exchanges to bolster internal oversight: source

Japan’s financial regulator will require cryptocurrency exchanges to strengthen internal oversight of the so-called “cold wallets” used to store digital money, a source with direct knowledge of the matter told Reuters on Tuesday. The move by the Financial Services Agency (FSA) highlights the difficulties in ensuring security of virtual currencies,… Read More

16th April 2019

UK Launches 5AMLD Consultation with Eye on Post-Brexit Era

The United Kingdom is seeking input on its planned implementation of the European Union’s fifth anti-money laundering directive (5AMLD) as the government continues to negotiate an exit from the economic bloc. In a consultation paper published Monday, HM Treasury said it would seek stakeholder commentary on the directive through… Read More

16th April 2019

France to ask EU partners to adopt its cryptocurrency regulation

France will push for the European Union to adopt a regulatory framework on cryptocurrencies similar to the one it brought in last week at a national level, becoming the first major country to do so, French Finance Minister Bruno Le Maire said on Monday. The French parliament last week approved… Read More

15th April 2019

FATF Ministers Agree to ‘Open-Ended’ Mandate, Longer Presidencies

Finance ministers and other national representatives approved an indefinite extension of the Financial Action Task Force’s mandate, including revisions that increase the group’s presidential terms by a year. The open-ended mandate, which takes effect in 2020, comes as the Paris-based intergovernmental organization marked its 30-year anniversary in a ministerial meeting… Read More

Must Read

New York Fed cracks down on Puerto Rico banks following Venezuela sanctions

Enhancing Financial Inclusion: Telecoms and AML in Nigeria

FinCEN Issues First Penalty Against P2P Cryptocurrency Exchange

Romanian justice minister resigns after losing party support

Sudan arrests al-Bashir’s brothers, new calls for protests