TOP STORY

Richard

May

21

P2P Platform’s Inaction Fueling Fraud, Witnesses Claim

Sen. Richard Blumenthal (D-CT) speaks on Capitol Hill on Thursday, Dec. 08, 2022. In a congressional hearing on Tuesday, May 21, 2024, Blumenthal and other U.S. lawmakers criticized P2P platforms for enabling fraud. (Getty)

More News

Weekly Roundup: TD Bank’s Troubles Multiply, Las Vegas Casino Faces Fine, and More

Virtual IBANs trigger warning, Car Wash convictions overturned, and more, in the weekly roundup.
May 24, 2024

Netherlands Targets ‘Underground Banking’ Networks

By Koos Couvée

Dutch authorities underestimated the scale and complexity of informal value transfer systems that serve drug traffickers and other local crime syndicates.
May 23, 2024

Germany’s BaFin Loses Patience, Hands Fintech Record Penalty

By Gabriel Vedrenne

Germany's Federal Financial Supervisory Authority, also known as BaFin, assessed a record €9.2 million fine against N26, Germany's largest, purely online bank, on Tuesday for again taking too long to flag suspicious transactions to the country's financial intelligence unit.
May 23, 2024

Midweek Roundup: Maltese FIU Chief Defends Enforcement, US Lawmakers Target Payment Fraud, and More

Indiana bankers withheld CTRs, FDIC chairman plans resignation, and more, in the midweek roundup.
May 22, 2024

Staffing Shortfall Hamstrings German Sanctions Unit

By Gabriel Vedrenne

Germany's Central Office for Sanctions Enforcement appears in some ways to have hit stride since launching in January 2023, with the government recently disclosing that the new agency has more than 100 cases underway as compared to only eight last summer.
May 22, 2024
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Enforcement Actions

CFTC Fines J.P. Morgan Securities LLC $200 Million for Trade Surveillance Program Deficiencies

The Commodity Futures Trading Commission ordered the New York, NY-based futures commission merchant and swap dealer to pay $200 million to settle charges that it failed to adequately capture billions of orders in its surveillance systems.
May 23, 2024

SRA Fines Dewar Hogan £12,777.85 for AML/CTF Noncompliance

The Solicitor Regulation Authority penalized the London, U.K.-based firm for failing to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
May 24, 2024

SEC Orders Intercontinental Exchange, Inc., Nine Affiliates to Pay $10 Million for Failing to Report Cyber Intrusion

May 22, 2024

SRA Fines Raegal Limited £1,520 for Violations of MLRs

May 23, 2024

OCC: Lemont National Bank Must Address Liquidity Risk Management, Strategic Planning Deficiencies

May 1, 2024
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Legs & Regs

Moneyval Welcomes Significant AML/CTF Improvements of Bulgaria

The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism published a follow-up report and technical compliance re-rating of Bulgaria’s anti-money laundering and counterterrorist financing measures.

May 28, 2024

Moneyval Publishes Follow-Up Report on AML/CTF Measures of Holy See

The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism issued a follow-up report on the anti-money laundering and counterterrorist financing regime of the Holy See.

May 28, 2024

Moneyval Welcomes Stronger Penalties for AML/CTF Violations in San Marino

The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism published a follow-up report and technical compliance re-rating of the anti-money laundering and counterterrorist financing regime of San Marino.

May 28, 2024

EU Extends Humanitarian Aid Exemptions to Syria Sanctions Framework

The European Union amended its sanctions regime against Syria to allow for humanitarian aid.

May 28, 2024

Financial Crime Matters: Ex-OCC Official Discusses Recent FinCEN Rulemaking

Financial Crime Matters: Ex-OCC Official Discusses Recent FinCEN Rulemaking
March 25, 2024

In this episode of Financial Crime Matters, Kieran Beer, editor in chief of ACAMS moneylaundering.com, and Daniel Stipano, former deputy chief council for the OCC, discuss the Corporate Transparency Act and FinCEN’s creation of a national database of beneficial owners.

Edmund Fitton-Brown on Yemen and the Houthis

Wagner
March 11, 2024

In the latest episode of Sanctions Space, Justine is joined by Edmund Fitton-Brown, senior advisor at the Counter Extremism Project and former U.K. ambassador to Yemen. They discuss the ongoing tensions in the Red Sea, the political situation in Yemen and the origin and aspirations of the Houthi group, as well as sanctions actions taken by the U.S. and others against the Houthis.

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More News

Weekly Roundup: TD Bank’s Troubles Multiply, Las Vegas Casino Faces Fine, and More

Virtual IBANs trigger warning, Car Wash convictions overturned, and more, in the weekly roundup.
May 24, 2024

Netherlands Targets ‘Underground Banking’ Networks

By Koos Couvée

Dutch authorities underestimated the scale and complexity of informal value transfer systems that serve drug traffickers and other local crime syndicates.
May 23, 2024

Germany’s BaFin Loses Patience, Hands Fintech Record Penalty

By Gabriel Vedrenne

Germany's Federal Financial Supervisory Authority, also known as BaFin, assessed a record €9.2 million fine against N26, Germany's largest, purely online bank, on Tuesday for again taking too long to flag suspicious transactions to the country's financial intelligence unit.
May 23, 2024

Midweek Roundup: Maltese FIU Chief Defends Enforcement, US Lawmakers Target Payment Fraud, and More

Indiana bankers withheld CTRs, FDIC chairman plans resignation, and more, in the midweek roundup.
May 22, 2024

Staffing Shortfall Hamstrings German Sanctions Unit

By Gabriel Vedrenne

Germany's Central Office for Sanctions Enforcement appears in some ways to have hit stride since launching in January 2023, with the government recently disclosing that the new agency has more than 100 cases underway as compared to only eight last summer.
May 22, 2024
lock

Enforcement Actions

CFTC Fines J.P. Morgan Securities LLC $200 Million for Trade Surveillance Program Deficiencies

The Commodity Futures Trading Commission ordered the New York, NY-based futures commission merchant and swap dealer to pay $200 million to settle charges that it failed to adequately capture billions of orders in its surveillance systems.
May 23, 2024

SRA Fines Dewar Hogan £12,777.85 for AML/CTF Noncompliance

The Solicitor Regulation Authority penalized the London, U.K.-based firm for failing to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
May 24, 2024

SEC Orders Intercontinental Exchange, Inc., Nine Affiliates to Pay $10 Million for Failing to Report Cyber Intrusion

May 22, 2024

SRA Fines Raegal Limited £1,520 for Violations of MLRs

May 23, 2024

OCC: Lemont National Bank Must Address Liquidity Risk Management, Strategic Planning Deficiencies

May 1, 2024