Category: Financial Crime

Regulatory Watch News

• 

  Video 3 – Verifying the identity of a client: Dual-process method

  Fintrac

  March 22, 2023

  This video explains how to use the dual-process method to verify the identity of a person, which is one of the 5 prescribed methods by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) and associated Regulations. It is intended for businesses or reporting entities, subject to the Act and associated Regulations.

• 

  Medical Doctor and Treatment Facility Ordered to Pay Civil Penalties for Alleged Violations of the Opioid Addiction Recovery Fraud Prevention Act and Federal Trade Commission Act

  US Department of Justice

  March 22, 2023

  The Department of Justice, together with the Federal Trade Commission (FTC), today announced that the government will collect $100,000 in civil penalties from Defendants Dalal Akoury MD, PLLC, AWAREmed Wholistic Urgent Care, PLLC, and medical provider Dalal Akoury as part of a settlement to resolve alleged violations of the Opioid Addiction Recovery Fraud Prevention Act of 2018 and the FTC Act in connection with the advertising of treatment services of AWAREmed Health and Wellness Resource Center (AWAREmed).

• 

  Administrative Measure Publication Notice – FIAU

  FIAU

  March 22, 2023

  This Notice is being published by the Financial Intelligence Analysis Unit (FIAU) in terms of Article 13C of the Prevention of Money Laundering Act (PMLA) and in accordance with the policies and procedures on the publication of AML/CFT administrative measures established by the Board of Governors of the FIAU. RELEVANT ACTIVITY CARRIED OUT: Collective Investment Scheme (Retail) DETAILS OF THE ADMINISTRATIVE MEASURES IMPOSED: Administrative Penalty of €49,969 in terms of Regulation 21 of the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR).