Publication of Updated and New Guidance FINTRAC has updated its guidance on compliance program requirements, methods to verify the identity of persons and entities, third party determination requirements, and reporting terrorist property to reflect regulatory amendments coming into force on June 1, 2021, and has updated its FAQ about domestic politically exposed persons and heads of international […]
FinCEN Reissues Real Estate Geographic Targeting Orders for 12 Metropolitan Areas Contact: Office of Strategic Communications, 703-905-3770Immediate Release April 29, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced the renewal of its Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell […]
Seven bids for strengthened fight against money laundering Better tools for customer awareness, increased access to government data and sharing of risk flags between financial institutions. These are some of the proposals in the Danish Financial Supervisory Authority’s new report, where the Authority provides a number of examples of how […]
Published Date: 14 April 2021 MAS Imposes Composition Penalty of S$1 million on Bank J. Safra Sarasin Ltd, Singapore Branch for AML/CFT Failures Singapore, 14 April 2021… The Monetary Authority of Singapore (MAS) has imposed a composition penalty of S$1 million on Bank J. Safra Sarasin Ltd, Singapore Branch (BJS) for […]
Statement on payment service and money laundering inspection in Inpay A / S In October 2020, the Danish Financial Supervisory Authority inspected Inpay A / S. The inspection was an investigation of the payment service and money laundering area. The inspection included management and organization of the company as well as the […]
Terms of Reference (ToR), April 2021 Central Bank Digital Currency (CBDC) Taskforce Role and Remit The Chancellor announced the Central Bank Digital Currency (CBDC) Taskforce as part of the April 2021 Fintech week. This Taskforce brings together HM Treasury and the Bank of England, to coordinate the exploration of a […]
Bank of England statement on Central Bank Digital Currency The Bank of England and HM Treasury have today announced the joint creation of a Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential UK CBDC. Published on 19 April 2021 The Bank of England and HM […]
Agencies Issue Statement and Request for Information on Bank Secrecy Act/Anti-Money Laundering Compliance Immediate Release April 09, 2021 The federal banking agencies, in consultation with the Financial Crimes Enforcement Network and the National Credit Union Administration, today issued a joint statement addressing how risk management principles described in the “Supervisory […]
FinCEN Launches Regulatory Process for New Beneficial Ownership Reporting Requirement Contact Office of Strategic Communications, 703-905-3770 Immediate Release April 01, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions related to the implementation of the beneficial […]
Statement regarding money laundering inspection in Danske Bank A / S CSD unit Vilnius, Lithuania On 21 November 2019, the Danish Financial Supervisory Authority conducted an inspection in Danske Bank A / S ‘(the bank) Customer Services Delivery (CSD) unit in Vilnius, Lithuania. This was a functional study in the area […]
