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Financial Crime
Supervision & Enforcement
US SEC’s Use of In-house Judges Ruled Unconstitutional
By Editors | 02/07/2024
The ruling curbs the SEC’s internal adjudication powers and is expected to also impact more than two dozen US agencies.
Anti-Money Laundering
FinCEN Proposes Rule to Enhance FIs’ AML/CFT Programmes
By Editors | 02/07/2024
The rule will explicitly require AML/CFT programmes to be “effective, risk-based, and reasonably designed” based on a risk assessment.
Anti-Money Laundering
US Sanctions Two Chinese Nationals for Assisting Sinaloa Cartel
By Editors | 01/07/2024
The sanctions include two China-based targets who helped launder illicit drug proceeds belonging to Mexico’s Sinaloa Cartel.
Anti-Money Laundering
Wolfsberg Group Calls for More Effective Approach to SARs/STRs
By Manesh Samtani | 01/07/2024
Wolfsberg Group says the value being derived from the constantly increasing volume of SARs/STRs is not contributing proportionately to effective outcomes.
Anti-Money Laundering
Australia Law Body Issues Guidance on AML
By Sanday Chongo Kabange | 01/07/2024
The guidance will safeguard legal practitioners from being “unwittingly” misused by financial criminals.
PEPs & Sanctions
US Sanctions 3 Entities, 11 Vessels Over Iran’s ‘Nuclear Escalations’
By Editors | 01/07/2024
US Secretary of State Antony Blinken said Iran’s plans to further expand its nuclear programme “have no credible peaceful purpose”.
PEPs & Sanctions
EU Imposes New Restrictive Measures Against Belarus
By Editors | 01/07/2024
The measures mirror several of the restrictive measures already in place against Russia to address circumvention.
Anti-Money Laundering
US DOJ, Jho Low Reach Global Pact on 1MDB Asset Forfeiture: Report
By Nithya Subramanian | 01/07/2024
The agreement forever resolves the United States’ civil, criminal and administrative asset forfeiture actions of monies and assets traceable to 1MDB.
Anti-Money Laundering
FATF Adds Monaco, Venezuela to Grey List; Removes Two Others
By Manesh Samtani | 01/07/2024
The Plenary also adopted two new country assessments and approved five priorities for the incoming Mexican Presidency.
KYC & CDD
SEBI Seeking to Ease Access to Sovereign Bonds for FPIs
By Editors | 28/06/2024
SEBI is looking to eliminate many of its information requirements, such as disclosure of investor group and beneficial ownership.
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