Earlier this month, at Jamaica’s 6th annual Anti-Money Laundering (AML)/Counter Terrorism Financing (CTF) Conference, Cheryl Bazard, a Bahamian compliance specialist and founding president of the Bahamas Association of Compliance Officers (BACO), was invited to present for the third time. The… Read more >
Professionals across all industries and sectors must familiarize themselves with the Money Laundering Regulations 2017 (MLR2017) which has introduced a variety of new provisions to replace and expand the requirements of the existing Money Laundering Regulations 2007 (MLR2007). This newest… Read more >
On top of the numerous accounts of noncompliance Danske bank has recently been involved with, French court Tribunal Grande Instance de Paris has charged the bank for its relationship to a $230 million money laundering scheme at its Estonian location… Read more >
Commonwealth Bank (CBA) has been accused by the Australian Transaction Reports and Analysis Centre (AUSTRAC) of failing to comply with anti-money laundering (AML) and terrorism financing laws on nearly 54,000 occasions between November 2012 and September 2015. Law firm Maurice Blackburn… Read more >
With the upcoming due date for the implementation of FinCEN’s Final Rule, companies should be implementing due diligence programs, if they haven’t already, that are intrinsic and sustainable in order to build long term strategies towards compliance. Furthermore, as organizations… Read more >
A Connecticut-based paper company, BD White Birch Investment LLC, commonly known as White Birch USA, was fined by the Treasury Department’s Office of Foreign Assets Control (OFAC) for exporting paper from Canada to Sudan. The company settled the allegations for… Read more >
Under Resolution Nº 4,595 of August 28, 2017, the Central Bank of Brazil will be requiring financial institutions and credit unions to adopt compliance programs. The new rule also requires the boards of directors of financial institutions to send the… Read more >
Bank Indonesia, the central bank of the Republic of Indonesia, issued a new regulation named PBI No. 19/10/PBI/2017 (PBI) to reinforce anti-money laundering (AML) and terrorism financing laws. With information technology systems advancing, new activities of payment systems and… Read more >