Category: Banking

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AML, Analysis, Banking, EU/Europe

Banks face some of the highest risk levels in the Swedish financial system – National Risk Assessment issues warnings about sectors most vulnerable

AML, Asia-Pacific, Banking

BREAKING: Australian banks are extremely vulnerable to money laundering, warns AUSTRAC watchdog – with level of risk for all four major domestic banks ‘high’

AML, Banking, Compliance, EU/Europe, Featured Article

LATEST: Suspended Maltese bank Pilatus handed multi-million euro fine for ‘total disregard’ of AML safeguards

Banking, Compliance, North America, Regulatory

OFAC hits Bank of China (UK) with $2M+ fine; says bank demonstrated ‘reckless disregard’ in violating Sudan sanctions regime

Banking, Compliance, EU/Europe, Regulatory

Major Baltic bank told to improve AML controls after rigorous inspection by all three national supervisors

Banking, Compliance, EU/Europe, Technology

LATEST: N26 may be prohibited from accepting new customers as bank struggles with substandard customer due diligence

AML, Asia-Pacific, Banking, Compliance

South Pacific bank warns of further trouble ahead as AML investigation continues; partner banks may face increased pressure to cut ties

AML, Asia-Pacific, Banking, Compliance, Financial Crime, Financial Services

Commonwealth Bank expected to send 100 compliance and tech roles to India as Bank says it ‘struggles’ to find talent locally

Banking, EU/Europe, Financial Services, Regulatory

BREAKING: Trouble grows for fintech Monzo as news of AML probe makes savings providers nervous – with one suspending new offers to customers

AML, Banking, EU/Europe, Regulatory

Malta’s €10k cash limit comes with very few loopholes; a likely scenario when the EU adopts the same law

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Flower Mound Hospital to Pay $18.2 Million to Settle Federal and State False Claims Act Allegations Arising from Improper Inducements to Referring Physicians
US Department of Justice
December 2, 2021
Flower Mound Hospital Partners LLC (Flower Mound Hospital), a partially physician-owned hospital in Flower Mound, Texas, has agreed to pay $18.2 million to resolve allegations that it violated the False Claims Act by knowingly submitting claims to the Medicare, Medicaid and TRICARE programs that resulted from violations of the Physician Self-Referral Law and the Anti‑Kickback Statute.
9 entries have been added to the Belarus financial sanctions regime
Office of Financial Sanctions Implementation
December 2, 2021
On 2 December 2021 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 consolidated list and are now subject to an asset freeze:
- Grigoriy Yurievich Azarenok (Group ID: 14162)
- Natalia Mikhailovna Buguk (Group ID: 14155)
- Lyudmila Gladkaya (Group ID: 14159)
- Sergey Alexandrovich Gusachenko (Group ID: 14161)
- Alina Sergeevna Kasyanchyk (Group ID: 14156)
- Andrey Evgenievich Krivosheyev (Group ID: 14157)
- Andrei Nikolaevich Mukovozchyk (Group ID: 14158)
- Andrei Parshyn (Group ID: 14160)
- Open Joint Stock Company "Belaruskali" (Group ID: 14154)
Regulatory action against Greentube Alderney Limited
Gambling Commission
December 2, 2021
An online gambling business must pay £685,000 after a Commission investigation revealed social responsibility and money laundering failures.
Greentube Alderney – which operates admiralcasino.co.uk and bellfruitcasino.com – will also undergo extensive independent auditing for the failures which occurred between December 2019 and November 2020

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Category: Banking

Banks face some of the highest risk levels in the Swedish financial system – National Risk Assessment issues warnings about sectors most vulnerable

BREAKING: Australian banks are extremely vulnerable to money laundering, warns AUSTRAC watchdog – with level of risk for all four major domestic banks ‘high’

LATEST: Suspended Maltese bank Pilatus handed multi-million euro fine for ‘total disregard’ of AML safeguards

OFAC hits Bank of China (UK) with $2M+ fine; says bank demonstrated ‘reckless disregard’ in violating Sudan sanctions regime

Major Baltic bank told to improve AML controls after rigorous inspection by all three national supervisors

LATEST: N26 may be prohibited from accepting new customers as bank struggles with substandard customer due diligence

South Pacific bank warns of further trouble ahead as AML investigation continues; partner banks may face increased pressure to cut ties

Commonwealth Bank expected to send 100 compliance and tech roles to India as Bank says it ‘struggles’ to find talent locally

BREAKING: Trouble grows for fintech Monzo as news of AML probe makes savings providers nervous – with one suspending new offers to customers

Malta’s €10k cash limit comes with very few loopholes; a likely scenario when the EU adopts the same law

Regulatory Watch News

Flower Mound Hospital to Pay $18.2 Million to Settle Federal and State False Claims Act Allegations Arising from Improper Inducements to Referring Physicians

9 entries have been added to the Belarus financial sanctions regime

Regulatory action against Greentube Alderney Limited

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