The US Financial Crimes Enforcement Network (FinCEN) has proposed extending some companies’ final beneficial ownership information (BOI) reporting deadlines. The amendment would change the initial reporting deadline for firms created or registered in 2024 from 30 to 90 days. The […]
The French financial market regulator, Autorité des marchés financiers (AMF), has released customer due diligence (CDD) guidance for investment firms to clarify anti-money laundering and counter-terrorist financing (AML/CFT) obligations. The guidelines were released on October 2, 2023. “[This guidance] sets […]
The Monetary Authority of Singapore (MAS) has recorded more than $20 million in penalties in its 4th Enforcement Report, along with its enforcement priorities for 2023-2024. Among other measures, the report details high-profile enforcement actions against four financial institutions for […]
Spokespersons for the Southern District of New York and the Federal Bureau of Investigations (FBI) have announced multiple corruption-related charges against Senator Robert Menendez (Menendez), his spouse Nadine Menendez (Nadine), and three others. The unsealed indictment alleged that Menendez offered […]
The Spanish National Police have arrested 197 people on charges related to drug trafficking, sex crimes, money laundering, corruption, and other high-risk crimes following 29 investigations funded by the European Union (EU). The cases, which Europol and countries within and […]
During the 2023 Australian Financial Review (AFR) Cyber Summit, former Australian Transaction Reporting and Analysis Centre (AUSTRAC) CEO Paul Jevtovic urged an approach targeting the root causes of financial crime alongside recent regulator initiatives to compensate scam victims. “[W]e are […]
On September 18, the Financial Crimes Enforcement Network (FinCEN) announced that it had published a small entity compliance guide for beneficial ownership information (BOI) reporting requirements. The guide aims to help firms, particularly small businesses, understand and comply with the […]
Sixteen people involved in an organized crime group that smuggled millions in suspected drug profits out of the UK and illegally transported migrants, including children, across the border have been handed prison sentences. “The NCA mounted a long and complex […]
To enhance the fight against sanctions violations, the US Financial Crimes Enforcement Network (FinCEN) has announced a Financial Trend Analysis (FTA) highlighting critical trends for Russian export controls sanctions evasion. The patterns came from Bank Secrecy Act (BSA) suspicious activity […]
Europol has issued its first European financial and economic crime threat assessment, exploring the intertwined and evolving threats of money laundering, corruption, and organized crime in Europe. The insights are drawn from collaborative intelligence across EU member states and Europol-partnered […]
Australian police have arrested three individuals on charges related to romance fraud. The suspects, two women and a man, allegedly attracted three victims using a newspaper dating ad posing as a widowed 50-year-old woman. According to authorities, the victims paid […]
In July 2023, the UK government called on the Financial Conduct Authority (FCA) to review its guidance on risk management for politically exposed persons (PEPs). As a result, the regulator has outlined the key areas it will examine in its […]
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