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UK’s National Crime Agency Calls for Further SARs Reforms

The UK’s National Crime Agency (NCA) is calling for additional reforms to the country’s system for reporting suspicious transactions in an effort to scale back the volume of defensive filings it receives, the Financial Times reported Thursday. Although the Home Office has launched a “transformation programme” aimed at overhauling… Read More

U.S. targets insurers in latest round of Nord Stream 2 sanctions

The U.S. is drawing up additional sanctions on the Nord Stream 2 natural gas pipeline project, the latest obstacle in the path of the 9.5 billion-euro ($11.2 billion) Russia-to-Germany link that’s been halted almost a year. House and Senate negotiators agreed to target insurers and technical certification companies working on… Read More

Indonesian tycoon sentenced to life in jail for stock manipulation

An Indonesian graft court has sentenced businessman Benny Tjokrosaputro to life in prison for a stock manipulation scheme that helped trigger losses of more than $1 billion at state insurer Asuransi Jiwasraya, state news agency Antara said. Three of the insurer’s executives were among the five other defendants sentenced to… Read More

2nd October 2020

Companies Facilitating Ransomware Payments Could Face Sanctions Penalties

Companies that assist victims of ransomware attacks in making payments to criminal hackers could face penalties, according to a new advisory from the U.S. Department of the Treasury. The civil penalties would apply to those who assist in making ransom payments on behalf of victim companies or governments hacked… Read More

2nd October 2020

Travel Services Provider Fined $5.9 Million for Cuba Sanctions Violations

Generali Global Assistance Inc. agreed to pay nearly $5.9 million to resolve apparent violations of U.S. sanctions on Cuba, in a settlement that the U.S. Treasury Department said underscored the need for companies to be cognizant of indirect sanctions risks. The self-reported case stems from Cuba-related insurance reimbursements that the… Read More

17th September 2020

U.S. Treasury plans major overhaul of anti-money-laundering rules

The Financial Crimes Enforcement Network said Wednesday that a significant overhaul of the nation’s anti-money-laundering regulatory framework is in the works. In an advance notice of proposed rulemaking, Fincen said it plans to firm up the definition of an “effective and reasonably designed” AML compliance program, something the regulator said… Read More

15th September 2020

First glimpse of new EU human rights sanctions

International perpetrators of genocide and torture, but not corruption, are to face new-model EU sanctions, a leaked document shows. Those guilty of crimes against humanity, slavery, extrajudicial killings, enforced disappearances, and arbitrary arrests will also face EU asset-freezes and visa-bans. And those responsible for human-trafficking, sexual violence, and abuses of… Read More

10th September 2020

Angola seizes AAA assets, hotel chains linked to de Sao Vicente, TV reports

Angola’s attorney general has seized buildings and hotels belonging to AAA, a company associated with Carlos Manuel de São Vicente whose $900 million fortune has been frozen by Swiss authorities, state broadcaster TPA reported on Tuesday. De São Vicente was a key figure in Angola’s oil industry, heading a group… Read More

31st August 2020

Switzerland freezes Angolan tycoon’s $900 million fortune

Swiss authorities have frozen nearly $900 million belonging to an Angolan business executive with ties to successive presidential regimes, according to newly released court documents. Switzerland’s public prosecutors froze seven accounts of Carlos Manuel de São Vicente and family members in December 2018 on suspicions of money laundering, according… Read More

6th August 2020

Trump’s Bank Was Subpoenaed by N.Y. Prosecutors in Criminal Inquiry

The New York prosecutors who are seeking President Trump’s tax records have also subpoenaed his longtime lender, a sign that their criminal investigation into Mr. Trump’s business practices is more wide-ranging than previously known. The Manhattan district attorney’s office issued the subpoena last year to Deutsche Bank, which has been… Read More

4th August 2020

New York Is Investigating Trump and His Company Over Bank Fraud, Filing Suggests

The Manhattan district attorney’s office suggested on Monday that it had been investigating President Trump and his company for possible bank and insurance fraud, a significantly broader inquiry than the prosecutors have acknowledged in the past. The suggestion by the office of the district attorney, Cyrus R. Vance Jr., came… Read More

30th July 2020

UK regulators tighten sanctions controls on maritime trade

The UK’s top sanctions regulator has issued landmark guidance for all companies involved in maritime trade, instructing them to pay closer attention to vessel behaviour, company structures and potentially forged documents. The Office of Financial Sanctions Implementation (OFSI) warns that “a variety of tactics are deployed to confuse or conceal… Read More

29th June 2020

DOJ Compliance Guidance Places New Emphasis on Middle Management, Use of Data

A recent revision to U.S. Justice Department guidance on corporate compliance is placing increased emphasis on the role of middle management and access to internal data as it broadens the scope of how prosecutors evaluate companies’ policies and controls. “We wanted to make sure the midlevel management is also echoing… Read More

Must Read

New EU Prosecutor’s Office Takes Aim at 50-Billion-Euro-a-Year ‘Carousel Fraud’ Schemes

The public knew he was crooked in 2009. Big banks helped him stash millions until 2017.

Silent victims: the hidden Romanian women exploited in the UK sex trade

SBM Offshore Faces Swiss Probe Over Legacy Bribery Allegations

Outside Monitors Urge Deutsche Bank to Quit Russia