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NEWS: TD Bank says it’s spent $365M on fixing AML failings, hiring more FCC staff

Premium May 4, 2024

FAILINGS: Bharat Masrani, group president and chief executive officer of Toronto Dominion (TD) Bank Group claimed "tangible improvements" in the bank's AML defences after a nightmare week at home and in the US.

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NEWS: Nigeria court rules Binance executive can face trial on behalf of crypto exchange

NEWS: EU must do more to battle ‘faceless’ criminals, Eurogroup President Paschal Donohoe tells Anti-Financial Crime Summit 2024

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NEWS:Casino firm SkyCity agrees to $67m penalty from AUSTRAC over AML failures

By AML Intelligence Correspondents CANADA’s second largest lender TD Bank has said it has already invested more than C$500M ($365.4M) to fix its creaking AML processes. The bank said the money was spent on program remediation and platform enhancements to address a string of failings which have landed it in trouble with US and local…

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Premium

NEWS: Nigeria court rules Binance executive can face trial on behalf of crypto exchange

NEWS: EU must do more to battle ‘faceless’ criminals, Eurogroup President Paschal Donohoe tells Anti-Financial Crime Summit 2024

 Premium

NEWS:Casino firm SkyCity agrees to $67m penalty from AUSTRAC over AML failures

Regulatory Watch News

  • Setting up the new EU Anti-Money Laundering Authority for success

    Central Bank of Ireland

    Speaking at the European Anti-Financial Crime Summit today, Deputy Governor of the Central Bank of Ireland Derville Rowland said: “The commitment of European leaders to introduce a single rulebook for Anti-Money Laundering (AML) and the creation of a new European AML supervisory and financial intelligence coordination authority is truly historic, and we are at an inflection point in the journey of financial crime prevention.

  • NCA secures first Unexplained Wealth Order in Northern Ireland

    National Crime Agency

    The National Crime Agency (NCA) has secured the first Unexplained Wealth Order in Northern Ireland against a man suspected of involvement in serious organised crime. The Order compels the man and his wife to explain the source of funds used to construct a property in County Armagh worth approximately £275,000. It was obtained at the High Court in Belfast on Friday (17 May) as part of an ongoing NCA civil recovery investigation.

  • Financial sanctions update: DPRK, Russia, DRC, ISIL (Da’esh) and Al-Qaida & Burundi

    OFSI

    On 17 May 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.  The following entries have been added to the Democratic People’s Republic of Korea financial sanctions regime and are now subject to an asset freeze: 

    • Aleksey Mikhailovich Vorotnikov (Group ID: 16499) 
    • Paekyangsan Shipping Co Ltd (Group ID: 16495) 
    • Toplivo Bunkering Company (Group ID: 16496) 

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