Multiple banks and other firms will have to divulge information on wealthy Americans linked to tax fraud case

Regulatory Watch News

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  Publication of Final Rule to Remove the Zimbabwe Sanctions Regulations

  OFAC

  April 16, 2024

  The Office of Foreign Assets Control (OFAC) is issuing a final rule to remove the Zimbabwe Sanctions Regulations, 31 CFR part 541, from the Code of Federal Regulations.  OFAC is taking this action because the national emergency on which part 541 was based was terminated by the President on March 4, 2024. The rule is currently available for public inspection with the Federal Register and will take effect upon publication in the Federal Register on April 17, 2024.

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  MONEYVAL held assessors training in Riga

  MONEYVAL

  April 16, 2024

  In the preparation of the next cycle of assessments, which will place an even greater focus on effectiveness and on countries’ risk and context, MONEYVAL organised a week-long assessors training in Riga. From 8 to 12 April, 39 experts from 24 MONEYVAL and FATF countries attended the training which focussed on both technical compliance and effectiveness aspects.

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  Four arrested on suspicion of smuggling money from UK to Albania

  National Crime Agency

  April 16, 2024

  Four alleged members of an organised crime group that specialises in smuggling criminal cash out of the country and into Albania have been arrested in a National Crime Agency investigation. The suspects were arrested on 13 April in a series of co-ordinated raids which began with a 48-year-old Albanian national being arrested at Dover. Approximately £200,000 in cash was seized from his vehicle which is alleged to have been en route to Albania.