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NEWS: 100,000 register with FinCEN’s BO registry; real estate, investment advisory AML rules coming soon

Premium January 9, 2024

FATF: "The United States’ upgraded rating is a result of nearly a decade of hard work by the Treasury Department, along with our interagency partners, to stop the flow of dirty money through anonymous companies,” Secretary of the Treasury Janet L. Yellen said.

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LATEST: Croatia, Cyprus and Lithuania get upgraded ratings after tightening AML measures

BREAKING: TD Bank’s nightmare FCC week as Canada’s AML watchdog fines lender $6.7M over STR failures

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INSIGHT: How Balkan gangsters became Europe’s top cocaine suppliers

By AML Intelligence Correspondent MORE than 100,000 businesses have so far filed their beneficial ownership data with FinCEN, Treasury Secretary Janet Yellen said. She made the announcement as she visited FinCEN headquarters to promote the new requirement that businesses file disclosures of their beneficial ownership, as part of new laws to crack down on money…

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Premium

LATEST: Croatia, Cyprus and Lithuania get upgraded ratings after tightening AML measures

BREAKING: TD Bank’s nightmare FCC week as Canada’s AML watchdog fines lender $6.7M over STR failures

 Premium

INSIGHT: How Balkan gangsters became Europe’s top cocaine suppliers

Regulatory Watch News

  • Treasury Targets Sanctions Evaders Supporting Key Hizballah Financial Advisor

    OFAC

    WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated five individuals for helping U.S.-designated Hizballah money exchanger Hassan Moukalled (Moukalled) and his company, CTEX Exchange, evade sanctions and facilitate illicit activities in support of Hizballah. These individuals, including two co-founders of CTEX Exchange and two of Moukalled’s sons, operate two companies in Lebanon and the United Arab Emirates (UAE) that are being concurrently designated. Individuals and entities targeted today are being designated pursuant to Executive Order (E.O.) 13224, as amended, which targets terrorist groups, their supporters, and those who aid acts of terrorism.

  • FINTRAC imposes an administrative monetary penalty on The Toronto-Dominion Bank

    FINTRAC

    FINTRAC announced today that it has imposed an administrative monetary penalty on The Toronto-Dominion Bank. Following a compliance examination in 2023, this bank in Toronto, Ontario, was imposed an administrative monetary penalty of $9,185,000 on April 9, 2024, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.

  • Operation PANDORA shuts down 12 phone fraud call centres

    Europol

    In the early hours of 18 April 2024, German, Albanian, Bosnian-Herzegovinian, Kosovar* and Lebanese police forces raided 12 call centres identified as the source of thousands of daily scam calls. 21 persons were taken into custody during this Europol-supported action day, which took down a criminal network responsible for defrauding thousands of victims through the use of various modus operandi. The callers’ playbooks would range from shocking fake police calls, persuasive investment fraud or heart-wrenching romance scams. In an unprecedented law enforcement effort, a large-scale German investigation evolved into Operation PANDORA, which identified 39 suspects.

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