Anti-Financial Crime & Financial Crime Compliance
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LATEST: Former Wirecard CEO faces trial for ‘unparalleled’ fraud allegations

Premium December 5, 2022

Wirecard HQ in Aschheim, Germany

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LATEST: AMLA seeks industry feedback on simplified due diligence guidelines

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FRANKFURT NOTEBOOK: How AMLA found compromise on 3 RTSs to deliver backbone of new EU anti-financial crime architecture

NEWS: US sanctions Russia’s A7, shadow banking network used by Iran that moves $91.5 billion annually

By Alisha Houlihan for AMLi

Former CEO of Wirecard is facing trial this week in Munich for his role in the collapse of the now defunct payments firm.

Charges filed against Markus Braun and two other former Wirecard executives include fraud, breach of trust, manipulation of the market and accounting fraud, according to France24.

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LATEST: AMLA seeks industry feedback on simplified due diligence guidelines

 Premium

FRANKFURT NOTEBOOK: How AMLA found compromise on 3 RTSs to deliver backbone of new EU anti-financial crime architecture

NEWS: US sanctions Russia’s A7, shadow banking network used by Iran that moves $91.5 billion annually

Regulatory Watch News

  • Treasury Dismantles Major Hamas Financing Network

    OFAC

    WASHINGTON—Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated a member of Hamas’s military wing, along with two France-based individuals and two affiliated entities that provide critical financing to Hamas. These designations expose a sophisticated, multi‑year financing architecture that moved more than $2 million to Hamas through deceptive charitable fronts and cryptocurrency channels, demonstrating the organization’s persistent ability to adapt its fundraising mechanisms to evade detection.

  • Reissue: Update to UK Sanctions List: Russia Regime

    UK Government

    Today, Friday 2 October, the UK Government has revoked and remade the specifications of 2 vessels under the Russia sanctions regime. This corrects an error in the Statement of Reasons relating to these vessels. The sanctions imposed, shipping and trade sanctions, remain in force for both vessels. Revoked and Respecified Vessels:

    Name: Previous Unique ID:  New Unique ID:
    IMO 7808401 (BEBEK-E) RUS3739 RUS3752
    IMO 9344411 (GALLE ENERGY) RUS3747 RUS3751
     

  • Press Release: AMLA finalises key standards for the private sector

    AMLA

    AMLA has finalised three sets of regulatory technical standards (RTS) defining key measures companies and professionals must apply to reduce money laundering and terrorist financing risks. Shaped by broad stakeholder input, the standards give the private sector a common framework for meeting these requirements, and mark a milestone towards a clear and consistent AML/CFT rulebook for the EU.

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