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Finanstilsynet issues new AML report

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 […]

FinCEN and federal regulators want your input on risk management models, AML & sanctions

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 […]

The heart of FinCEN’s recent ANPRM

ANPRM = Advance Notice of Proposed Rulemaking From the ANPRM, until it gets into the nitty-gritty… Specifically, FinCEN is considering regulatory amendments that would explicitly define an “effective and reasonably designed” AML program as one that:  Identifies, assesses, and reasonably mitigates the risks resulting from illicit financial activity — […]

What to do about North Korea? DFAT wants to know…

Consultation: Autonomous Sanctions (North Korea): Triennial review of designations and declarations of persons and entities made in 2016 Australia’s autonomous sanctions regime enables the Minister for Foreign Affairs to designate a person or entity for the purposes of targeted financial sanctions, or declare a person for the purposes of a […]

HM Treasury wants input on the EU 5MLD

Summary Seeking views on the transposition of the Fifth Money Laundering Directive. This consultation closes at 11:59pm on 10 June 2019 Consultation description This consultation invites views and evidence on the steps that the government proposes to take to meet the UK’s expected obligation to transpose the Fifth Money Laundering […]