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NEWS: Israel strikes Al Qard Al Hassan banks, saying institution is Iran, Hezbollah linked

Premium October 21, 2024

STRIKES: Israeli military Chief of staff Herzi Halevi said on Monday (October 21) that Israel targeted Hezbollah-linked financial institution, Al-Qard Al-Hassan Association, explaining that it is funded by Iran. File Photo shows: Israeli Defense Minister Yoav Gallant (L) in talks Halevi (R) and army commanders in Jerusalem on July 20, 2024. Israel's Ministry of Defense / Handout / AnadoluNo Use USA No use UK No use Canada No use France No use Japan No use Italy No use Australia No use Spain No use Belgium No use Korea No use South Africa No use Hong Kong No use New Zealand No use Turkey

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INSIGHT: U.S. banks say proposed new rules won’t change ‘tick the box’ approach to AML

NEWS: Ireland, UAE sign extradition agreement to fight organized crime; move signals hope for other EU states

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NEWS:  Police say €10m stolen in Venezuelan fraud shifted through Irish investment funds – report

By AML Intelligence Correspondents ISRAELI military Chief of staff Herzi Halevi said on Monday (October 21) that Israel targeted Hezbollah-linked financial institution, Al-Qard Al-Hassan Association, explaining that it is funded by Iran. One of the buildings destroyed was said to hold a bunker containing millions of dollars in gold and cash belonging to Hezbollah. In…

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INSIGHT: U.S. banks say proposed new rules won’t change ‘tick the box’ approach to AML

NEWS: Ireland, UAE sign extradition agreement to fight organized crime; move signals hope for other EU states

 Premium

NEWS:  Police say €10m stolen in Venezuelan fraud shifted through Irish investment funds – report

Regulatory Watch News

  • Atlanta Attorney Pleads Guilty in Syndicated Conservation Easement Tax Scheme

    US Department of Justice

    Attorney is 12th Individual Convicted in Scheme Involving Sale of Over $1.3B in Fraudulent Tax Deductions
    A Georgia man pleaded guilty last week to obstructing the IRS related to his participation in the promotion of abusive syndicated conservation easement tax shelters. According to court documents and statements made in court, Vi Bui was an attorney and partner at Sinnott & Co., an Atlanta-based company. Beginning in at least in 2012 and continuing through at least May 2020, Bui participated in a scheme to defraud the IRS by organizing, marketing, implementing and selling illegal syndicated conservation easement tax shelters created and organized by Jack Fisher, Sinnott and others. For their involvement in the scheme, Fisher and Sinnott were convicted at trial and in January sentenced to 25 and 23 years in prison, respectively.

  • OFSI Counter-Terrorism Guidance and Delegation Frameworks update

    OFSI

    On 21 October 2024 OFSI updated its Counter-Terrorism guidance to reflect changes to sanctions legislation introduced through The Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2024, which was laid in Parliament on 15 May 2024. Specifically, the guidance has been updated to reflect the following changes:

    • New director disqualification measures under regulation 5 for the purposes of reg 16A of the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019
    These director disqualification measures came into force on 5 June 2024.

  • FATF Week – October 2024

    FATF

    The first Financial Action Task Force (FATF) Plenary under the two-year Mexico Presidency of Elisa de Anda Madrazo will take place on 23-25 October and will conclude FATF Week which starts on 21 October. Delegates representing over 200 members of the Global Network and observer organisations, including the International Monetary Fund, the United Nations, the World Bank, INTERPOL and the Egmont Group of Financial Intelligence Units, will participate in the Working Group and Plenary meetings in Paris during FATF Week.

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