Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

AML, Financial Crime, News, Sanctions

NEWS: Second Russian tanker, hit by sanctions, docks at Chinese port to discharge crude

Premium March 13, 2024

Russian oil firms face delays of up to several months to be paid for crude and fuel as banks in China, Turkey and the United Arab Emirates (UAE) become more wary of US secondary sanctions, eight sources familiar with the matter said.

Payment delays reduce revenue to the Kremlin and make them erratic, allowing Washington to achieve its dual policy sanction goals - to disrupt money going to the Kremlin to punish it for the war in Ukraine while not interrupting global energy flows.

NEWS: Ex-TD Bank insider arrested and charged with helping launder ‘millions’ in drug profits to Colombia

 Premium

NEWS: MONEYVAL praises Georgia’s AML progress but flags risks around non-profits

 Premium

NEWS: ‘Chaos’ over U.S. beneficial ownership reporting as FinCEN admits compliance is voluntary

By Florence Tan

Russian tanker Krymsk, hit by sanctions, docked on Wednesday at the Chinese port of Dongying in eastern Shandong province, home of independent refiners, to discharge 700,000 barrels of Russian Sokol crude, LSEG and Kpler shipping data showed.

This is the second Russian oil tanker, hit by sanctions, to dock at Chinese ports this month. Last week, tanker Liteyny Prospect discharged its 700,000-barrel Sokol crude cargo at the Chinese port of Huanghua near Cangzhou city in Hebei province.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!

View subscription optionsIf you have an account, log in

NEWS: Ex-TD Bank insider arrested and charged with helping launder ‘millions’ in drug profits to Colombia

 Premium

NEWS: MONEYVAL praises Georgia’s AML progress but flags risks around non-profits

 Premium

NEWS: ‘Chaos’ over U.S. beneficial ownership reporting as FinCEN admits compliance is voluntary

Regulatory Watch News

  • FinCEN Issues Spanish Translations of Alert and In-Depth Analysis on Nationwide Surge in Mail Theft-Related Check Fraud Schemes Targeting the U.S. Mail

    FinCEN

    Today, the Financial Crimes Enforcement Network (FinCEN) is issuing Spanish translations of its February 2023 alert to financial institutions on the nationwide surge in check fraud schemes targeting the U.S. Mail and its September 2024 Financial Trend Analysis (FTA) on mail theft-related check fraud incidents based on Bank Secrecy Act data filed in the six months following the publication of the alert. These translations are intended to further support financial institutions located in predominantly Spanish speaking communities and support law enforcement’s outreach to such communities impacted by this fraud. Fraud, including check fraud, is the largest source of illicit proceeds in the United States and is one of FinCEN’s Anti-Money Laundering/Countering the Financing of Terrorism National Priorities.

  • TD Bank Insider Arrested and Charged with Facilitating Money Laundering

    US Department of Justice

    A former Florida-based employee of TD Bank N.A. was arrested and charged by criminal complaint yesterday for facilitating money laundering to Colombia through the financial institution. According to court documents, Leonardo Ayala, 24, worked at a TD Bank store in Doral, Florida, between February and November 2023. Starting in June 2023, Ayala allegedly exploited his position as a bank employee to facilitate money laundering. As alleged, after another TD Bank employee opened accounts in the names of shell companies with nominee owners, Ayala assisted the money laundering network by issuing dozens of debit cards for the accounts in exchange for bribes. Those accounts were then allegedly used to launder millions of dollars in narcotics proceeds through cash withdrawals at ATMs in Colombia.

  • FINTRAC imposes an administrative monetary penalty on Exchange Bank of Canada

    FINTRAC

    FINTRAC announced today that it has imposed an administrative monetary penalty on Exchange Bank of Canada. Following a compliance examination that took place between December 2022 and April 2024, this bank headquartered in Toronto, Ontario, was imposed an administrative monetary penalty of $2,457,750 on November 5, 2024, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.

Sign Up To Our Newsletter

Categories

Archived articles

Contact Us