Regulatory Update

Reset Filter

Jurisdictions

Industry Sectors

Predicate Crimes

Enforcement

Regulatory Update

Featured Regulatory Update

U.S. imposes fresh Iran-related sanctions despite coronavirus

The United States blacklisted five Iran- and Iraq-based companies and 15 individuals on Thursday for supporting terrorist groups, its third round of sanctions on Iranian targets in the last two weeks even as Tehran battles the coronavirus outbreak. In a statement, the U.S. Treasury Department accused those targeted of supporting… Read More

Canada’s money-laundering monitor now triaging reporting process by COVID-19-hit businesses

While crooks and terrorists are as susceptible to COVID-19 as other mortals, underworld cash always seems immune, so Canada’s money-laundering monitor has begun triaging financial transaction reports during the pandemic. Staffing shortages and business disruption forced by the coronavirus prompted the Financial Transactions and Reports Analysis Centre of Canada, known… Read More

Coronavirus Prompts Swedish Regulator to Delay Decision on SEB Probe

Sweden’s financial supervisory authority has delayed the conclusion of an anti-money laundering assessment of Skandinaviska Enskilda Banken AB due to the coronavirus pandemic. The assessment of the Swedish bank was expected to conclude in April, but the Swedish FSA, known as the Finansinspektionen, said Wednesday that it was now… Read More

26th March 2020

Cum-Ex Trading: Challenges for Regulators

“This was a collective case of thievery from state coffers”—so declared presiding Judge Roland Zickler of the Bonn criminal court in December 2019 at the trial of Martin Shields and Nicholas Diable, two British traders charged with aggravated tax evasion in Germany’s biggest post-war fraud prosecution. Although this was only… Read More

25th March 2020

Malta sees 157% increase in suspicious transaction reports

Malta’s Financial Intelligence Analysis Unit (FIAU) has reported a 157% increase in suspicious transaction reports (STRs) in 2019 from 2017, with 2,778 STRs received. The anti-money laundering unit also reported an unprecedented increase in the number of requests for information received from other domestic authorities especially supervisory authorities. FIAU is also… Read More

24th March 2020

EU states ‘dragging their feet’ over financial transparency, report finds

Most EU member states have failed to meet a legal deadline to introduce public registers of the real owners of companies, a transparency measure seen as key to fighting money laundering, according to a review by anti-corruption campaigners. In May 2018, the European Union passed a directive obliging member… Read More

23rd March 2020

Luxembourg’s Parliament votes in favour of tax, anti-money laundering rules

Luxembourg’s parliament on Saturday voted in favour of new laws to implement EU rules increasing reporting duties on cross-border tax arrangements and stepping up the fight against money laundering. After Tuesday’s session was cancelled because of the pandemic, parliament convened over the weekend to vote on a package of laws. This… Read More

23rd March 2020

Banks delay internet fraud check, so take care with online payments

A crucial bank fraud security measure due to be introduced within weeks has been delayed because of the disruption caused by Covid-19. Just as millions of people are expected to avoid branches and use online services, banks have postponed their plans for an extra layer of protection. At the moment,… Read More

20th March 2020

EU Won’t Stop Member States From Seizing Assets of Accused

European Union regulations don’t prevent countries from confiscating assets from someone charged with civil offenses or not yet convicted of a crime, the EU’s highest court ruled Thursday. The question before the five-judge panel of the European Court of Justice was whether Bulgaria was allowed to confiscate assets from Tsvetan… Read More

20th March 2020

U.S. Steps Up Iran Sanctions Amid Coronavirus, as Tehran Charges Cruelty

The Trump administration this week sent a stark message to Iran in three new rounds of sanctions: The U.S. won’t ease its economic pressure campaign even as the coronavirus pandemic batters the country. The Trump administration, amid growing calls to ease its sanctions campaign, said it has no plans… Read More

19th March 2020

Luanda Leaks sealed new Cape Verde banking law, minister says

Cape Verde will close banks that serve only foreign customers, including one partly owned by Angolan billionaire Isabel dos Santos, following Luanda Leaks revelations, the country’s finance minister has pledged. Olavo Correia, who is also the Macaronesian nation’s deputy prime minister, said new laws to shutter so-called “offshore” banks that… Read More

19th March 2020

UAE Central Bank in talks with Pakistan counterpart to assess breach of money laundering laws

The Central Bank of the UAE is in consultations with its counterpart in Islamabad and will sanction a Pakistani lender operating in the emirates if it deems the bank has breached its anti-money laundering (AML) laws. The central bank has “zero tolerance for non-compliance with AML regulations,” and expects “high… Read More

18th March 2020

U.S. Blacklists New Islamic State Leader

The U.S. blacklisted the new leader of Islamic State as a specially designated global terrorist, the State Department said Tuesday. The designation of Amir Muhammad Sa’id Abdal-Rahman al-Mawla comes as the U.S. continues to add pressure on ISIS, which the U.S. has designated as a foreign terrorist organization. Efforts to… Read More

Must Read

The Northern Irish ghost companies that mask crime worldwide

U.S. Charges Venezuelan President Nicolás Maduro With Drug Trafficking

UK in-house lawyer was ‘puppet director’ for dubious £16m schemes

Coronavirus Is Idling North Korea’s Ships, Achieving What Sanctions Did Not

U.S. imposes fresh Iran-related sanctions despite coronavirus