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New human trafficking info from FINTRAC

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 […]

Finanstilsynet Inspection Report: AP Pension Livsforsikringsaktieselskab

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 AML proposals for the EU

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 […]

A Meeting for Very Stable(coin) Geniuses

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 […]

July 15, 2021: FinCEN invites you to talk ransomware in August

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 […]

Finanstilsynet Inspection Report: Frorup Andelskasse

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 issues a High-Risk Country Advisory Notice

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. […]