29th August 2019
The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has launched a new division dedicated to international money laundering investigations and its use of “special measures” under the USA Patriot Act.  The bureau’s Global Investigations Division (GID), announced Wednesday, will oversee the implementation of “targeted investigation strategies,” including… Read More
29th August 2019
The Securities and Exchange Commission is increasingly questioning public companies about compliance with U.S. sanctions as the nation’s blacklist of individuals and entities grows. The regulator has slowly ramped up comment letters to companies seeking more details about disclosures related to dealings in countries targeted by U.S. sanctions, according to… Read More
28th August 2019
Switzerland’s financial regulator issued guidance on the money-laundering risks associated with blockchain technology following a call to action by a global standard-setter this year. The guidance, released Monday by the Swiss Financial Market Supervisory Authority, also known as Finma, steered blockchain businesses toward compliance with Switzerland’s existing anti-money-laundering and… Read More
28th August 2019
The Philippines’ anti-money laundering body is studying the scope of the country’s online gambling industry to determine the impact on the economy if it stopped operating, its chairman said on Tuesday. Benjamin Diokno, who is governor of Bangko Sentral ng Pilipinas (BSP) and head of the Anti-Money Laundering Council, has… Read More
27th August 2019
The United Kingdom’s chief anti-money laundering law is deterring European investments in cannabis markets, lawyers and industry executives told the Financial Times. Although Europe’s cannabis sector is projected to be worth €123 billion by 2028, investors fear that the UK’s Proceeds of Crime Act (POCA) could be used to prosecute… Read More
27th August 2019
Capital controls imposed on depositors at the height of Greece’s debt crisis are being lifted after four years. The policy change will finally remove restrictions on companies and individuals sending money abroad, which were introduced to prevent bank runs during the 2015 Grexit crisis. Signalling… Read More
27th August 2019
Danske Bank A/S’s financial regulator says it expects its board to decide soon whether to report the lender to police for overcharging retail investors. Jesper Berg, the director general of the Financial Supervisory Authority in Copenhagen, said that the FSA’s board “will decide in the late summer months.” “When, we… Read More
26th August 2019
The Swedish Financial Supervisory Authority (FSA) will publish the conclusions of its probe into alleged money laundering in the Baltics by the beginning of next year, it said on Friday, pushing back the deadline by several months. Swedbank (SWEDa.ST), Sweden’s oldest retail bank, has lost more than a… Read More
26th August 2019
The chair of the U.S. House Financial Services Committee said on Sunday she remained concerned about Facebook’s plans for a digital currency after meeting the government officials in Switzerland that Facebook has said will regulate it. “While I appreciate the time that the Swiss government officials took to meet with… Read More
26th August 2019
Professional football clubs and players’ agents will be required to report suspicious transactions to the police or face criminal sanctions, just like banks, if radical measures proposed by the European Commission are adopted. These measures are recommended in the Staff Working Document that accompanied the Commission’s recently published Supranational Risk… Read More