SWISS FINANCIAL ASSOCIATION PUBLISHES AML STANDARDS FOR DIGITAL ASSETS, NOTES CRIMINAL, CYBER RISKS

Swiss Capital Markets

Switzerland’s Capital Markets and Technology Association (CMTA) recently released what it considers a consensus among public and private sector bodies on how anti-money laundering (AML) standards should be interwoven into the crypto, or digital asset, sector, and the tech underpinning the field, distributed ledger technologies (DLT). These standards are designed to clarify for both issuers […]

FINANCIAL CRIME WAVE – LAUNDERING IN THE NETHERLANDS, ANALYSIS OF FATF AML RANKINGS, AND MORE

ACFCS Dutch Chapter Netherlands Flag

In this week’s Financial Crime Wave, laundering in the Netherlands tabulated at 16 billion euros, an analysis of a global watchdog’s rankings for effectiveness in fighting financial crime, an update on the aftershocks of last years “Paradise Papers” leak, and more. Money laundering €16 billion laundered in the Netherlands each year as financial scandals bring […]

EU PRESSES LEGAL LEVERAGE AGAINST LUXEMBOURG, MALTA TO BOLSTER AML DEFENSES, SPAIN WINS REPRIEVE

The European Commission this week took rare and drastic steps to increase legal pressure on Luxembourg and Malta for not adequately implementing bloc-wide financial crime compliance regulations, while pulling back similar actions against Spain after a range of recent improvements. The move comes as several EU member states – including Denmark, Estonia, Latvia, the Netherlands […]

ACFCS OCTOBER REGULATORY REPORT: AML MANUAL UPDATE, OCC, NYDFS, EU PENALTIES, AND MORE

WELCOME TO A MONTHLY FEATURE FROM ACFCS TO HELP YOU KEEP UP TO DATE ON THE LATEST RULES, GUIDANCE AND ENFORCEMENT TRENDS: THE REGULATORY REPORT!  In this feature, ACFCS highlight’s key current, upcoming or potential changes in the global financial crime landscape, so compliance professionals, investigators and regulators can better keep abreast of pressing vulnerabilities, […]

FINANCIAL CRIME WAVE – OFAC HITS SINGAPORE BROKER ON NORTH KOREA, LATVIAN AML FINE, AND MORE

In this week’s Financial Crime Wave, U.S. government agencies designated and file criminal charges against a securities broker in Singapore for helping North Korea evade sanctions, a Latvian regulator, under pressure to clean up the financial sector, penalizes a bank nearly $2 million on anti-money laundering, and more. Money laundering How One Stubborn Banker Exposed […]