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NEWS: US investment advisors will be subject to AML rules; real estate agents must file STRs

Premium February 7, 2024

REPORT: Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E Nelson said: “Treasury, through our National Risk Assessments, is at the cutting edge of analyzing the global risk environment to protect the US and international financial systems from abuse by illicit actors. We urge both the public and private sectors to engage with these reports, as well as our forthcoming National Strategy for Combatting Terrorist and Other Illicit Finance.”

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NEWS: Austrian officials warn Raiffeisen off Russian oligarch deal, sources say

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ANALYSIS: EBA argues customers tricked by scammers into making 2FA payments should not automatically be denied refunds

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LATEST: Search for AMLA chief to begin in June, vacancies for five board members will open in September

By Alisha Houlihan for AMLi

The US Department of the Treasury (USDT) published the 2024 National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing, it was revealed today. These reports highlight the most significant illicit finance threats, vulnerabilities, and risks facing the United States. 

In a statement, the USUT revealed the reports detail recent, significant updates to the Us anti-money laundering/counter-financing of terrorism (AML/CFT) framework and explain changes to the illicit finance risk environment.

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NEWS: Austrian officials warn Raiffeisen off Russian oligarch deal, sources say

 Premium

ANALYSIS: EBA argues customers tricked by scammers into making 2FA payments should not automatically be denied refunds

 Premium

LATEST: Search for AMLA chief to begin in June, vacancies for five board members will open in September

Regulatory Watch News

  • April 29, 2024 – FINTRAC advisory: Financial transactions related to countries identified by the Financial Action Task Force

    Fintrac

    High-risk jurisdictions subject to a call for action

    The statement on high-risk jurisdictions subject to a call for action identifies jurisdictions for which the FATF has called on its members to either apply countermeasures (Democratic People's Republic of Korea (DPRK), Iran) or enhanced due diligence measures proportionate to the risks arising from the jurisdiction (Myanmar).

  • FinCEN to Host Webinar on Beneficial Ownership Information Reporting Requirements

    FinCEN

    The Corporate Transparency Act requires many companies doing business in the United States to report information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) about who ultimately owns or controls them. Join a FinCEN representative for a virtual information session on beneficial ownership information reporting requirements and how to comply with the law. WHAT: Webinar on beneficial ownership information reporting requirements WHEN: Tuesday, April 30, 2 p.m. ET WHERE: www.youtube.com/@fincentreasury

  • Financial sanctions update: ISIL (Da’esh) and Al-Qaida

    OFSI

    On 29 April 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. Enacting the UN’s decision to amend this entry on 25 April 2024, the following entry has been amended under the ISIL (Da’esh) and Al-Qaida financial sanctions regime and remains subject to an asset freeze:

    • Sanaullah Ghafari (Group ID: 14169)

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