A Chicago woman has been convicted of fraud and tax offenses after cashing her dead grandmother’s pension checks and creating false tax returns. The Justice Department reports that Eunice Salley (aka Eunice Sally Dobyns, aka Oya Awanata-Bey, aka Oya Awanata) […]
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has started civil proceedings against Australia’s largest casino operator, Crown Resorts, alleging “serious and systemic non-compliance” with the country’s anti-money laundering and combatting the financing of terrorism (AML/CTF) laws. The action relates […]
Transaction screening is a critical extension of an effective transaction monitoring program. Sanctions breaches constitute serious offenses and can result in heavy penalty fines. Accordingly, banks and financial institutions must check customers against relevant sanctions lists as efficiently and accurately […]
What is SWIFT? The Swift system, or the Society for Worldwide Interbank Financial Telecommunication, facilitates financial transactions and money transfers for banks located around the world. The system is overseen by the National Bank of Belgium and enables transactions between […]
We take a step back to explore the bigger picture around the Russia-Ukraine crisis, and how the situation may develop in the coming weeks and months. Following Russia’s recognition of the breakaway republics of Luhansk and Donetsk on February 22nd, […]
The latest set of explosive revelations concerning bank accounts of the rich and powerful has seen Switzerland’s second largest bank, Credit Suisse, face accusations of widespread, systemic failures of due diligence. Suisse Secrets is an international investigation – involving more […]
The Australian Transaction Reports and Analysis Center (AUSTRAC) has issued new guidance aimed at helping firms identify and verify sources of funds and wealth, as part of their know your customer (KYC) processes. The draft guidance follows the regulator’s recent […]
South Korea’s largest telecom provider is to pay $6.3m to settle a US Securities and Exchange Commission (SEC) action over alleged bribes. KT Corp, which is publicly traded and listed on the New York Stock Exchange, engaged in multiple schemes […]
This article explores the latest sanctions on Russia imposed by the US, EU, UK and others, alongside our best practice recommendations for firms on how to ensure they’re compliant.
The Monetary Authority of Singapore (MAS) is set to be granted enhanced powers to regulate virtual asset service providers (VASPs) as part of a significant new bill consolidating its supervisory powers.
Netherlands-based Rabobank is to allocate €249m towards improving its anti-money laundering (AML) policies and procedures, following instructions from the country’s central bank to remedy deficiencies.
In 2021 ComplyAdvantage surveyed compliance leaders globally to build an assessment of the state of financial crime in the year ahead. One of the key questions we asked in the survey was: How has the number of suspicious activity reports […]
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