AML


Danske

Embattled Danske hires HSBC compliance head

2019-07-10T14:52:00+01:00By

Danske Bank, embroiled in a substantial money laundering scandal, has added to its compliance team with the appointment of Simon Kingsbury as head of surveillance & investigation.

Dankse

Yet another misstep by Danske results in firing of interim Danish CEO

2019-06-27T14:06:00+01:00By

Danske Bank has been forced to fire yet another board member—this time for mis-selling thousands of customers a wealth management product that charged excessive fees.

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Public register pros trump cons

2019-06-26T21:02:00+01:00By Matthew Stephenson

Harvard Law School’s Eli Goldston Professor of Law Matthew Stephenson discusses the benefits of public registers.

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No proof in public register value

2019-06-26T21:00:00+01:00By Geoff Cook

Consultant and independent director Geoff Cook offers evidence on why public registers are still lacking.

IsleOfManTop

U.K. tax havens promise greater transparency on company ownership

2019-06-21T17:14:00+01:00By

Starting in 2021, Guernsey, Jersey, and the Isle of Man will make records of company ownership public, which should please members of parliament who have argued that not doing so has made them vulnerable to financial crime.

Nordea

Nordea raided over ML probe in Denmark

2019-06-21T16:46:00+01:00By

Scandinavian banking giant Nordea revealed its Copenhagen office was raided by Danish police as part of an ongoing investigation into alleged money laundering.

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White paper: Global AML Screening: Leveraging Technology to Combat False Positives

2019-06-13T17:52:00+01:00Provided by

Organizations across regulated industries are obligated to screen transactions and customers against sanctions lists in order to avoid transacting with sanctioned countries, individuals and entities.

Treasury

Bill demands ownership reveals for shell companies

2019-06-11T15:08:00+01:00By

The newly proposed ILLICIT CASH Act would, for the first time, require shell companies to disclose their true owners to the U.S. Department of Treasury.

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White paper: US in Focus: AML/KYC & Sanctions Fines 2008-2018

2019-06-05T16:29:00+01:00Provided by

Over the past ten years, US regulators have increasingly prioritized the importance of strict AML law enforcement to effectively deter money laundering and terrorist financing activity, with over $24bn in AML, KYC and sanctions penalties levied.

MoneyLaunderingWar

Nordic and Baltic regulators join to combat money laundering

2019-05-28T14:54:00+01:00By

Regulators in eight Nordic and Baltic countries are developing a joint effort to exchange information with regard to fighting money laundering.

Venezuelaprotest

FinCEN to financial institutions: Beware of Venezuelan money laundering

2019-05-20T11:23:00+01:00By

FinCEN recently alerted financial institutions of continued widespread public corruption in Venezuela and the methods Venezuelan senior political figures and their associates may use to move and hide proceeds of their corruption.

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Artificial intelligence joins the AML crusade

2019-04-10T18:53:00+01:00Provided by

Artificial intelligence is transforming the way that companies and regulators alike tackle money-laundering and terrorist financing risk in remarkable and significant ways.

StandardCharteredFeature

Standard Chartered Bank to pay $1.1B for sanctions violations

2019-04-09T20:20:00+01:00By

Standard Chartered Bank, a U.K.-based financial institution, will pay a total of $1.1 billion in a global settlement for sanctions violations.

RussiaJusticeFeature

Troika Laundromat reveals the gaps in AML compliance

2019-04-01T18:36:00+01:00By

A recent report from several investigative journalists details the AML scandal behind Troika Dialog, once Russia’s largest private investment bank, and is just one small look into the much bigger problem of corruption across the globe.

Swedbankcrop

What Swedbank is saying about its multiple investigations

2019-03-29T17:07:00+00:00By

It has been a tumultuous few weeks for Swedbank as it fends off several investigations, including for money laundering and insider trading, resulting in the dismissal of its chief executive officer.

Swedbank_Automat

Swedbank faces scrutiny over money laundering allegations

2019-03-11T14:27:00+00:00By

Legal pressure against Stockholm-based Swedbank, one of several banks at the center of a massive money laundering scandal, continues to escalate.

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1MDB scandal could result in pay cut for Goldman Sachs’ executives

2019-02-21T10:00:00+00:00By

Goldman Sachs disclosed in a recent quarterly filing that 2018 equity-based pay awards could be subject to clawbacks depending on the results of governmental and regulatory investigations relating to 1MDB.