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Egmont Group collates digital device keywords for online child sex abuse payments
By Keith Nuthall
Online Published Date:
02 September 2020
Appeared in issue:
277 - 28 August 2020
US makes largest ever terrorist finance cryptocurrency seizure
Selva Ozelli, Esq., CPA is an international tax attorney and CPA who frequently writes about tax, legal and accounting issues for Tax Notes, Bloomberg BNA, other publications and the OECD.
Online Published Date:
03 September 2020
Appeared in issue:
277 - 28 August 2020
FinCEN acknowledges unlawful SARs disclosure
The Financial Crimes Enforcement Network (FinCEN), the US financial intelligence unit(FIU), which also provides the IT for secure exchange of data between international FIUs via the Egmont Group, issued a short statement [1] on 1 September [2020]..
Online Published Date:
05 September 2020
Appeared in issue:
277 - 28 August 2020
Deutsche Bank US arm pays US$583,100 over Crimea-related sanctions violations
By Keith Nuthall
Online Published Date:
11 September 2020
Appeared in issue:
277 - 28 August 2020
UK financial regulator curtails half criminal AML breach probes started this year
The UK Financial Conduct Authority has discontinued seven out of 14 investigations launched so far this year [2020] into potential offences under the Money Laundering Regulations, according to a freedom of information request filed by law firm..
Online Published Date:
14 September 2020
Appeared in issue:
277 - 28 August 2020
UK regulator consults on financial crime reporting by smaller firms
Peter Binning (+44 (0)20 7353 6000, pb@corkerbinning.com) is a partner at Corker Binning.
Online Published Date:
15 September 2020
Appeared in issue:
277 - 28 August 2020
FATF issues virtual asset ML/TF red flags
TheFinancial Action Task Force (FATF) published on 15 September [2020] a conciseset of red flags for money laundering and terrorist financing involving virtualassets [VAs]. [1] The indicators, based on over 100 case studies since 2017,are organised..
Online Published Date:
15 September 2020
Appeared in issue:
277 - 28 August 2020
State Street in Australia fined Au$1.24m for funds transfer reporting breaches
State Street Bank and Trust Company has been ordered to pay Au$1,247,400 by AUSTRAC, the Australian financial intelligence unit, for failing to report international funds transfers.Under the country’s Anti-Money Laundering and Counter-Terrorism..
Online Published Date:
16 September 2020
Appeared in issue:
277 - 28 August 2020
Directive to Regulation – a map for EU AML convergence
Back in March [2020], the European Commissiontasked the European Banking Authority (EBA) with looking at how the EU’santi-money laundering and counter terrorist financing regime should betightened up to become more ‘as one’ – ‘harmonised’ across the..
Online Published Date:
17 September 2020
Appeared in issue:
277 - 28 August 2020
US consults on AML programme reform
FinCEN,the US financial intelligence unit, is seeking comment on plans to revise the anti-moneylaundering programme requirement under the Bank Secrecy Act.Currently, AML regulations for covered businesses – all termed“financial institutions” under..
Online Published Date:
18 September 2020
Appeared in issue:
277 - 28 August 2020
UK company register to require beneficial owner and director identities are verified
The UK Government is to bring in compulsory verification of identity for people who exercise significant control over UK-registered companies: this includes beneficial owners who own 25% or more of the shares, individuals who hold more than 25% of..
Online Published Date:
19 September 2020
Appeared in issue:
277 - 28 August 2020
At it again, and again and… - the FinCEN Files
Writing about banks’ approach to money laundering is all too often like living Bill Murray’s character in Groundhog Day [1]: you wake up, think, okay, that’s all in the past, an unhappy memory, price paid and it’s different today; but then no, wait..
Online Published Date:
21 September 2020
Appeared in issue:
277 - 28 August 2020
Distance learning
Susan Grossey may be contacted on +44 (0)1223 563636, susan@thinkingaboutcrime.com, www.thinkingaboutcrime.com
Online Published Date:
22 September 2020
Appeared in issue:
277 - 28 August 2020
Price signals – zeroing in on trade-based money laundering
The pointers are there if one knows how to look: Professor JohnZdanowicz does, crunching US customs data to mark curious features ofcross-border pricing that deserve, if not demand, investigation. KeithNuthall and Diana Yordanova study his method..
Online Published Date:
22 September 2020
Appeared in issue:
277 - 28 August 2020
Playing games
Online games have taken on a ‘secondlife’ of their own, expanding role play into trading and markets where pricesare made in bespoke local currencies, which nevertheless have value in the realworld, a feature, Keith Nuthall finds, that has not..
Online Published Date:
22 September 2020
Appeared in issue:
277 - 28 August 2020
To train, and to train well – that is the question
Jonathan Fisher QC(jf@brightlinelaw.co.uk) isLead Counsel at Bright Line Law (https://brightlinelaw.co.uk/)
Online Published Date:
22 September 2020
Appeared in issue:
277 - 28 August 2020
Sound and light - India
New Delhi is confident of a positiveevaluation by the Financial Action Task Force (FATF) after its visit, scheduledfor next year [2021], but Raghavendra Verma wants to know if theoptimism is justified.Pawan Singh Tomar, former PrincipalCommissioner..
Online Published Date:
22 September 2020
Appeared in issue:
277 - 28 August 2020
Westpac agrees to Au$1.3bn fine by AUSTRAC for due diligence, reporting, monitoring failures
Westpac Banking Corporation, Australia’s second largest bankby assets, has agreed to pay a Au$1.3 billion fine to AUSTRAC [1] afteradmitting to over 23 million breaches of the Anti-Money Laundering andCounter-Terrorism Financing Act 2006. [2] If the..
Online Published Date:
24 September 2020
Appeared in issue:
277 - 28 August 2020
Tax offences and AML in the British Virgin Islands
Mirza Manraj (+852 5806 7895, mirza.manraj@harneys.com) is of Counsel and Marina Stavrou (+357 2584 4647, marina.stavrou@harneys.com) an Associate at Harneys.
Online Published Date:
28 September 2020
Appeared in issue:
278 - 28 September 2020