Trending: Laundering Through Luxury Goods Reaches All-Time High
Purchases of flashy luxury items such as foreign cars, fine jewelry, yachts, and private jets are often high on the agenda for those wealthy enough to afford them. While many…
Trending: OFAC Increases Civil Monetary Penalties for 2023
As 2023 commences, the United States remains arguably the most significant international influencer with respect to efforts to curb money laundering and terrorism financing activities. In order to better propel…
Trending: Global AML-Related Fines Surged by 50% in 2022
The penalties issued against both domestic and international financial service providers for lapses in their money laundering defenses rose by more than 50% in 2022 per recently released data. Although…
Record Enforcement Actions Expected Following Treasury’s Whistleblower Revamp
Over the past decade, the United States has made significant strides in upping the ante against both domestic and international money laundering and illicit financial exploits. While the country’s anti-money…
Enforcement Actions Hit European Banks, Manufacturers Highlighting Ongoing Battle for AML/CFT Reform
Reports of novel anti-money laundering (AML) and counter-terrorism financing (CFT) regulations coming to the United States, in addition to other measures expected to be announced across Europe, over the next…
With Beneficial Ownership Rule In Tow, Questions Remain For U.S. Banks
In January of 2021, Congress passed the U.S. Corporate Transparency Act (CTA), a breakthrough measure aimed at improving integrity across the financial sector, while also allowing national security and counter-intelligence…
With Fraud Figures Rising, FI’s Must Invest to Progress
In spite of a far greater number of financial institutions, government agencies and even entire jurisdictions being placed on notice regarding the perils of financial crime, gross domestic and international…
Online Gambling Boom Creates New AML Risks
The exponential rise of the online gambling sector in the United States and abroad is creating new opportunities for criminals, as well as the average citizen, to stash and launder…
Weekly Roundup in AML/CFT
Ericsson Sued by U.S. Terror Victims Swedish telecommunications staple Ericsson has found itself in the midst of an ugly legal dispute over contentious business practices dating as far back as…
Are Data Breaches Driving Rising Inflation Rates?
With the national inflation rate rising to 9.1% as of July 2022 and the global supply chain crisis with no foreseeable end, the United States and several other of its…