- Home/Publications/Money Laundering Bulletin
AUSTRAC brings civil action against Star Entertainment for 'serious and systemic' AML faults
The Australian financial intelligence unit has launched civil proceedings against Star Pty Limited and Star Entertainment Qld Limited, casino companies in the Star Entertainment Group, over alleged major contraventions of Australia's anti-money laundering and counter financing of terrorism (AML/CFT) laws.
Online Published Date:
01 December 2022
Appeared in issue:
300 - 01 February 2023
Russian oligarch arrested in London on suspicion of money laundering
On 1 December over 50 officers from the UK National Crime Agency (NCA) raided the London home of an unnamed "wealthy Russian businessman" suspected of money laundering as well as conspiracy offences to defraud the Home Office and commit perjury.
Online Published Date:
05 December 2022
Appeared in issue:
300 - 01 February 2023
HSBC fined €82,966 in Malta for CDD and monitoring breaches
The Maltese Financial Intelligence Analysis Unit (FIAU), on 28 November issued a penalty notice against HSBC Bank Malta plc for breaches of the Prevention of Money Laundering & Financing of Terrorism Regulations (PMLFTR).
Online Published Date:
06 December 2022
Appeared in issue:
300 - 01 February 2023
SkyCity Adelaide casino faces court in Australia over extensive AML/CFT failings
AUSTRAC, the Australian financial intelligence unit (FIU), has taken civil proceedings against SkyCity Adelaide Pty Ltd (SCA), alleging "serious and systemic" breaches of the country's anti-money laundering and counter financing of terrorism (AML/CFT) laws.
Online Published Date:
08 December 2022
Appeared in issue:
300 - 01 February 2023
Santander UK fined UK£108m for years of failed AML
Almost ten years after the UK subsidiary of Spanish banking group Santander started to breach its AML obligations, the UK Financial Conduct Authority has finally levied a penalty for "serious and persistent" failings.
Online Published Date:
10 December 2022
Appeared in issue:
300 - 01 February 2023
Crédit Agricole fined €1.5 million after AI analyses 750 million transactions
French bank Crédit Agricole has been fined €1.5 million after the Autorité de contrôle prudentiel et de résolution (ACPR) discovered failings in customer due diligence, transaction monitoring and alert investigation in its Languedoc division, which went unresolved between January 2018 and June 2020.
Online Published Date:
12 December 2022
Appeared in issue:
300 - 01 February 2023
Foul play - ML risk in EU football
Some colourful and questionable characters have owned football clubs over the years, not always for love of the sport. Agents who handle player transfers have also been accused of shady dealings. Denis O'Connor reviews the European Commission's examination of the financial crime elements that besmirch the beautiful game.
Online Published Date:
14 December 2022
Appeared in issue:
300 - 01 February 2023
Danske Bank pleads guilty, pays US$2 billion for Estonia branch AML failings, ending criminal cases in US and Denmark
Denmark's largest bank Danske Bank has settled criminal cases brought against it in the USA and Denmark over allowing its Estonia branch to funnel around €200 billion (US$213 billion) in funds from non-residents, including from Russia, into international financial networks, with light touch AML controls.
Online Published Date:
14 December 2022
Appeared in issue:
300 - 01 February 2023
German FIU chief resigns as SARs stack up
Christof Schulte stepped down as head of Germany's financial intelligence unit - Zentralstelle für Finanztransaktionsuntersuchungen - on 15 December, a week after the government confirmed that his agency had not revealed a backlog of suspicious activity reports (SARs) to the Financial Action Task Force (FATF) during its evaluation of the country's anti-money laundering regime last year.
Online Published Date:
15 December 2022
Appeared in issue:
300 - 01 February 2023
EU expands sanctions to Russia missile and drone manufacturers
The European Union (EU) has approved its ninth package of sanctions against Russia, following the country's invasion of Ukraine, blocking the export of technologies used to create the drones and missiles fired at Ukraine power and water plants.
Online Published Date:
20 December 2022
Appeared in issue:
300 - 01 February 2023
Hard core - UK AML supervision record 2020-2022
By a tenth annual review of UK anti-money laundering and counter financing of terrorism (AML/CFT) supervision one might expect all to be progressing steadily towards general compliance with the Money Laundering Regulations...
Online Published Date:
22 December 2022
Appeared in issue:
300 - 01 February 2023