FINTRAC provides additional money laundering indicators associated with human trafficking for sexual exploitation in support of Project Protect On this World Day Against Trafficking in Persons, FINTRAC has published its latest Operational Alert, Updated Indicators: Laundering of proceeds from human trafficking for sexual exploitation. Following a strategic analysis of its financial […]
Statement on inspection in AP Pension Livsforsikringsaktieselskab (money laundering area) In November 2020, the Danish Financial Supervisory Authority carried out an inspection of AP Pension Livsforsikringsaktieselskab (the company). The inspection included the company’s risk assessment, policies, procedures and internal controls in the area of money laundering. In addition, the inspection […]
New money laundering package from the Commission Yesterday, 20 July 2021, the Commission presented a number of legislative proposals to strengthen the fight against money laundering and terrorist financing. The Commission states that the general purpose of the overall package is to address three main issues: Lack of clear and […]
Read all 96 pages of it here… there is no apparent revision history, nor are there change markings…. Sorry!
PRESS RELEASES Secretary of the Treasury Janet L. Yellen to Convene a Meeting of the President’s Working Group on Financial Markets to Discuss Stablecoins July 16, 2021 WASHINGTON — Today, Secretary of the Treasury Janet L. Yellen announced plans to convene the President’s Working Group on Financial Markets (PWG), in […]
Second FinCEN Exchange on Ransomware to Take Place in August ContactOffice of Strategic Communications, 703-905-3770Immediate ReleaseJuly 15, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced it will convene a FinCEN Exchange in August 2021 with representatives from financial institutions, other key industry stakeholders, and federal government agencies to discuss ongoing […]
Statement on inspection in Frørup Andelskasse (money laundering area) On 9 February 2021, the Danish Financial Supervisory Authority inspected Frørup Andelskasse. The inspection was an investigation of the money laundering area. The inspection included a review and discussion of the cooperative’s fund: Organization Risk assessment, policies and procedures Customer knowledge […]
HM Treasury Advisory Notice: High-Risk Third Countries Requirement to apply Enhanced Due Diligence for higher risk jurisdictions The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the ‘MLRs’) require the UK regulated sector to apply enhanced customer due diligence in relation to high-risk countries. […]
FINTRAC imposes an administrative monetary penalty on Sokhom Ung, operating as Bureau de change Saint-Michel FINTRAC announced today that it has imposed an administrative monetary penalty on Sokhom Ung, also operating as Bureau de Change Saint-Michel. This money services business in Montréal, Quebec, was imposed an administrative monetary penalty of […]
Examination of stockbroking companies’ risk assessment in the area of money laundering In the fourth quarter of 2020, the Danish Financial Supervisory Authority conducted a cross-cutting study of a number of stockbroking companies’ risk assessments in the money laundering area. Summary The study included the risk assessments of ten stockbroking […]
