Tag: AML

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LATEST: Mercedes Benz to be audited in Australia over AML concerns

INSIGHT: Reflections and future vision after 25 years of evolution in AML compliance

INSIGHT: Role of data in harmonizing AML standards and combating financial crime

INSIGHT: Unlocking Success from Day One, the power of onboarding using Global RADAR’s platform and tools

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NEWS: US GOA says FinCEN should improve access to beneficial ownership, cites fraud risk

NEWS: Tigress Financial Partners fined $100K by FINRA for AML breaches

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NEWS: US Senators demand Treasury explain neutering of beneficial ownership reporting (BOI)

OPINION: Key tips for businesses to improve their AML recruitment

NEWS: C-suite in AML and compliance is still a man’s world – Xolisile Khanyile

NEWS: Private Sector Collaborative Forum to focus on financial inclusion, FATF chief Violaine Clerc tells ‘Women in FinCrime Summit 2025’

NEWS: Lynx Tech unveils AI-powered AML screening solution

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BREAKING: US Treasury suddenly drops beneficial ownership (BOI) reporting rules; will only apply to foreign businesses

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Treasury Disrupts Financial Facilitation Network Supporting Hizballah Terrorists
OFAC
May 15, 2025
WASHINGTON —Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is targeting two senior Hizballah officials and two financial facilitators for their roles in coordinating financial transfers for Hizballah. These individuals, based in Lebanon and Iran, work closely with Hizballah leadership to send money to the group from overseas donors. These donations are a significant portion of the terrorist group’s overall budget. In addition to managing and processing funding for Hizballah within Lebanon, one of these individuals is responsible for overseeing financial activity for Hizballah-aligned groups around the world.
FMA warns against offerings by Guru4Invest
FMA
May 15, 2025
This provider is not authorised to conduct securities transactions in Austria that require a licence, and is not allowed to execute orders on behalf of clients in accordance with Article 3 para. 2 no. 6 of the Securities Supervision Act 2018 (WAG 2018; Wertpapieraufsichtsgesetz 2018).
17 providers of criminal banking services arrested
Europol
May 15, 2025
In a prime example of the interconnection between criminal networks, Europol supported the takedown of a criminal parallel banking organisation with multiple branches spread out across Europe. The action day conducted on 14 January 2025 across Austria, Belgium and Spain constitutes a direct follow-up to two successful operations against migrant smugglers (as reported on 4 July 2023 and as 13 August 2023). A total of 17 individuals were arrested (15 in Spain, 1 in Austria, 1 in Belgium). A large amount of criminal assets worth over EUR 4.5 million, 4 shotguns and several electronic devices were seized.