Category: Banking

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NEWS: Padovani becomes Deutsche’s Chief Compliance & AFC Officer, joins male-dominated management board; Nina Patel becomes AML chief

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NEWS: Claims drug traffickers linked to Mexican cartel laundered cash through Citigroup ATMs

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NEWS: 400 files on suspected financial crimes pile up in Luxembourg due to lack of resources

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NEWS: New FinCEN rule would prevent US banks from outsourcing AML programs overseas

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LATEST: Monaco, Europe’s haven for the super-rich placed on FATF greylist; Venezuela also added to watchlist

LATEST: Turkey is removed FATF grey list in boost to country’s economic turnaround plan

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EXPLAINED: Here’s are the key AMLA milestones banks need to know

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NEWS: UK’s FCA backs off ‘name and shame’ strategy; flags need for agency to stay ahead of AI-assisted fincrime

NEWS: AMLA comes into legal effect today; EBA to hold EU money laundering powers until end of 2025

NEWS: Singapore’s PM tells FATF delegates country faces greater ML risk, will prioritise asset recovery

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ANALYSIS: Inside Europe’s new AML law – everything you need to know

OPINION: How FATF can act against deepening Russia-North Korea alliance with tougher measures

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FCA confiscates over £300,000 from convicted fraudsters
Financial Conduct Authority
May 14, 2025

The FCA has secured confiscation orders of £305,284 against Raheel Mirza, Cameron Vickers and Opeyemi Solaja for their roles in an investment fraud. This amounts to all their remaining assets.

The confiscation proceedings for Reuben Akpojaro have been adjourned to a later date. The money will be returned to investors at the earliest opportunity. Failure to pay can lead to imprisonment.
Arrest in joint money laundering investigation by police and FIOD
Fiscal Information and Investigation Service - FIOD
May 14, 2025
On May 13, the joint investigation team IFi of the police and FIOD arrested a man (57) and a woman (37) from Amsterdam. They are suspected of money laundering and forgery. A number of homes and a business premises in Amsterdam were searched, and physical and digital administration and data carriers, such as telephones, computers and identity documents, were seized.

The man has a company that does money transfers, among other things. It is suspected that the man and woman transferred cash of criminal origin abroad. Both were taken to a cell complex for questioning.
High Value Dealers, Art Market Participants, Letting Agents and Insolvency Practitioners Compliance
OFSI
May 14, 2025
From today, 14 May 2025, High Value Dealers (HVDs), Art Market Participants (AMPs), Letting Agents and Insolvency Practitioners are legally required to comply with relevant firms reporting obligations in the UK.
Since their announcement last November, OFSI has published a comprehensive package of guidance to support the affected sectors in navigating UK financial sanctions and the new reporting requirements: