In a significant shift towards potential deregulation, last week the U.S. Treasury Department under Secretary Scott Bessent issued a draft term sheet which was circulated to financial regulators across the country, proposing a potentially major overhaul of current anti-money-laundering (AML) enforcement protocols. The proposed plan leans towards the Treasury taking a more central role in […]
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In yet another escalation of the Trump Administration’s war on transnational crime, the U.S. Department of the Treasury has unleashed a fresh wave of sanctions targeting the notorious Venezuelan gang Tren de Aragua (TdA). The organization, which emerged from the irreputable depths of Venezuela’s Tocorón prison in the early 2010s, has since extended the reach […]
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With the United States and many of its international allies imposing staunch sanctions on the Democratic People’s Republic of Korea (DPRK) related to the country’s increasingly destabilizing activities (including its nuclear and ballistic missile programs and human rights abuses over the past decade), North Korea has developed into a hub for state-sponsored sanctions evasion activity […]
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In a major blow to international organized crime and sanctions evasion efforts, the UK’s National Crime Agency (NCA) has exposed a sophisticated Russian money laundering empire channeling billions of dollars worth of funds toward Russia’s military efforts in Ukraine. Dubbed Operation Destabilise, this ongoing international investigation has begun to reveal the sprawling yet increasingly interconnected […]
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The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) – the bureau tasked with collecting and analyzing financial information to combat domestic and international money laundering and terror financing activity – recently took decisive action against Mexico’s notorious Sinaloa Cartel, designating various transactions involving 10 Mexico-based gambling establishments tied to the group as a class of transaction of “primary money laundering concern” under Section 311 of the USA PATRIOT Act.
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In the high-stakes world of regulatory compliance, operational efficiency is everything. Within this space, maintaining thorough oversight and the appropriate checks-and-balances – specifically when dealing in high-value domestic and international transactions – is often the difference in avoiding costly fines and sanctions, reputational damage, and in some cases, even complete shutdowns for financial service providers […]
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Increased vigilance and follow-up enforcement efforts by global governmental bodies and regulatory agencies – coupled with the efforts of financial institutions on the frontlines of the war on illicit finance – remain arguably the most vital pieces of the puzzle to stop the growth of transnational financial crime. Last week was a busy one in […]
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Are you a compliance professional, risk leader, or executive striving to navigate the ever- evolving complexities of sanctions regulations? Mark your calendar for 27th February 2025 and join NTT DATA for an exclusive in-person event, in London, featuring some of the brightest minds in the sanctions compliance space. This is your opportunity to gain practical […]
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In a landmark decision, the U.S. Consumer Financial Protection Bureau (CFPB) recently levied a major penalty against popular money-transfer application Cash App over lax security protocols. The popular peer-to-peer (P2P) payment app’s parent company Block came under fire last week after a regulatory investigation into the firm’s dealings found that the company was operated “irresponsibly” […]
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The crusade against cyber-crime remains a true transnational effort, with the leading defense organizations of some of the world’s most powerful countries continuing to collaborate on the most effective methods to limit new forms of cross-border crime in this technological age of finance. Over the last several years, one of the more widely analyzed areas […]
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