The Hong Kong Association of Banks Frequently Asked Questions in relation to Anti-Money Laundering and Counter-Financing of Terrorism These Frequently Asked Questions (FAQs) in relation to Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) have been developed by the Hong Kong Association of Banks (HKAB) with input from the Hong Kong […]
FinCEN Provides Exceptive Relief for Casinos from Certain Customer Identification Requirements The Financial Crimes Enforcement Network (FinCEN) today issued a ruling granting limited exceptive relief under the authority set forth in 31 U.S.C. § 5318(a)(7) and 31 CFR § 1010.970(a) to casinos and card clubs from certain customer identity verification […]
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Monday, October 18, 2021 Colombian Businessman Charged with Money Laundering Extradited to the United States from Cabo Verde Alex Nain Saab Moran (Saab), 47, a Colombian citizen, will make his initial appearance in federal court in Miami, Florida, today after […]
Department of JusticeO ffice of Public Affairs FOR IMMEDIATE RELEASE Wednesday, October 6, 2021 Foreign National Sentenced for Money Laundering Funds to Promote Turtle Trafficking A Chinese citizen was sentenced today to 38 months in prison and one year of supervised release on a federal money laundering conviction. Kang Juntao, […]
A little old, but instructive… AUSTRAC issues remedial direction to Australian Military Bank 4 May 2021 AUSTRAC has issued a remedial direction to Australian Military Bank Ltd (AMB) requiring the mutual bank to review and uplift its compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws. The action follows ongoing […]
MSB registration eligibility changes Recently, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) was modified to further tighten and define the criteria of who is ineligible to register as a money services business (MSB) and a Foreign MSB with FINTRAC. Please consult our web page on Who is […]
Publication of Sanctions Compliance Guidance for the Virtual Currency Industry and Updated Frequently Asked Questions Release date10/15/2021Body The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing an industry-specific brochure, “Sanctions Compliance Guidance for the Virtual Currency Industry,” as a resource to help members of the […]
CBUAE issues new guidance on anti-money laundering and combatting the financing of terrorism for licensed financial institutions providing services to cash-intensive businesses Abu Dhabi (3 October 2021): The Central Bank of the UAE (CBUAE) has issued a new guidance on anti-money laundering and combatting the financing of terrorism (AML/CFT) for […]
CBUAE imposes financial sanctions on six exchange houses operating in the UAE Abu Dhabi (4 October 2021): The Central Bank of the UAE (CBUAE) imposed financial sanctions on six exchange houses operating in the UAE, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money […]
The consultation started in May, closed in June, and MAS responded last Friday. Links below for the consultation paper, and the responses. Links: Proposed AML Notices for Cross-Border Business Arrangements of Capital Markets Intermediaries under Proposed Exemption Frameworks – Consultation Paper Proposed Exemption Framework for Cross-Border Business Arrangements of Capital […]
