Terrorist financing
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Treasury issues national risk assessments, adds digital asset one
The reports trace threats to the US financial system, including ones involving drug cartels, transnational criminal organizations and money-laundering networks.
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Report highlights weaknesses in AML supervision among UK firms
OPBAS says the accountancy and legal sectors make a significant contribution to UK GDP, but there is significant room for improvement in supervision.
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OPINION: Financial crime risk and operational risk – same threats, different questions
David Brain surfaces a gap in how these risks are commonly framed, and explains why a financial crime BWRA should not be treated as a subset of operational risk.
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Lack of secure archive and other failings lead to fine for investment adviser in France
Carat GP and its two directors have incurred a fine of €2.5m. The firm and one of its directors have also been barred by the AMF.
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JPMorgan Chase fined record €45m by German regulator for AML failures
Wall Street’s largest bank has been accused of delays in SAR submissions in relation to anti-money-laundering and terrorist financing obligations.
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FCA to supervise financial services firms for AML/CTF compliance
Proponents of the announcement believe it will help prevent money laundering; critics argue the FCA may not have the capacity to do a supervisory job.
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FINTRAC’s administrative monetary penalties program – when you fail to comply
FINTRAC offers regulated entities a framework for how it determines an administrative monetary penalty in cases of noncompliance.
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EBA opinion highlights emerging ML/TF risks in EU’s financial sector
The EBA’s fifth biennial report reveals a complex risk landscape.