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NEWS: Swiss private banker charged with ML, accused of stealing client’s illicit cash

Premium April 3, 2024

CHARGED: A board member at a private bank in Switzerland was today (Wed) charged with money laundering, accused of stealing illicit cash from a customer. Our file photo shows Switzerland's national flag over the entrance of the Swiss Criminal Court (Bundesstrafgericht) in Bellinzona.

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BREAKING: Canada’s TD Bank makes $450M provision for AML probe in US; bank admits processes ‘insufficient to effectively detect, report, respond to suspicious activity’

LATEST: Binance chief Zhao gets just four months jail for running industrial-scale crypto laundry

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

By AML Intelligence Correspondent A BOARD member at Swiss private bank was today (Wed) accused of money laundering after authorities red-flagged deposits he was making to the Dominican Republic. The private banker is accused of taking illicit funds from a customer and depositing the money under his own name at his institution. The customer had…

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Premium

BREAKING: Canada’s TD Bank makes $450M provision for AML probe in US; bank admits processes ‘insufficient to effectively detect, report, respond to suspicious activity’

LATEST: Binance chief Zhao gets just four months jail for running industrial-scale crypto laundry

 Premium

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

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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