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ACAMS is the world’s leading authority for keeping on top of money laundering, sanctions, financial crime and compliance news

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Midweek Roundup: Nordea Faces Record Fine, Belgium Investigates Fintech, and More
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The EU's Anti-Money Laundering Authority wants to issue guidelines on new protocols that could empower banks to share financial intelligence with public authorities and each other on an unprecedented scale.
https://t.co/q1PE0EAGYM ($)

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Weekly Roundup: DOJ Investigates Democrat NGO, Brazil Accuses Fintechs, and More
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Last month, an elderly American victim of a sophisticated romance scam recovered nearly $900,000 after Tether "burned" the stablecoins she had transferred to the perpetrator three years prior, and reissued them on her behalf.
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OFAC revokes sanctions against U.N. official, AMLA seeks engagement, and more, in the weekly roundup.
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Rikke-Louise Petersen, an executive board member of the EU's AMLA, acknowledged in an interview with Europe editor Koos Couvée that her agency faces a huge workload. But she remained upbeat about its ability to meet its goals and objectives.
https://t.co/Y3hBnHiwge ($)

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The Trump administration directed the Treasury Department to propose changes to AML rules that could pave the way for financial institutions to routinely verify their customers' citizenship status as part of their customer due diligence efforts.
https://t.co/xYP0WoTK2c ($)

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An energy buyer and port operator in India caused tens of millions dollars in illicit payments to move through the U.S. after importing liquified petroleum gas, or LPG, in bulk from Iran, the Office of Foreign Assets Control alleged Monday.
https://t.co/S94B1CShXJ ($)

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FATF is considering revising its standards to recommend that nations establish public-private partnerships, or PPPs, for sharing financial intelligence, the group's incoming president said at an ACAMS-hosted conference in Germany.
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"Do not assume business as usual."

That was the message Rikke-Louise Petersen, executive director at the EU's AMLA, delivered to attendees of an ACAMS-hosted conference in Germany as she laid out the agency's plans in detail.
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#ACAMSAssembly #AML

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Dutch lender ING will pay €1.6 million to end a criminal investigation in Belgium into the bank's handling of suspicious transactions involving former European Justice Commissioner Didier Reynders, the Brussels Public Prosecutor's Office disclosed.
https://t.co/frzXzqKXXD ($)

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Prompted by the company's refusal to be fined for breaching anti-money laundering regulations, Denmark's Financial Supervisory Authority has referred the local subsidiary of Nordea to the National Unit for Serious Crime, or NSK, for investigation.
https://t.co/oNotQVWFkJ ($)

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Weekly Roundup: Tether-Lutnick Ties Draws Scrutiny, Senate Bill Targets CTA, and More
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U.S. officials warned banks of the sanctions-related risks they incur by clearing payments or handling other transactions linked to independent "teapot" refineries in China, which they allege have imported & refined billions of dollars of crude from Iran.
https://t.co/c9Um4X9Ksd

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A probe into a suspected scheme to launder more than €28 million of cash into & through banks in the Netherlands over a 4-year period has taken an unusual turn, w/ police across the country raiding multiple locations linked to a plant & flower wholesaler.
https://t.co/XYgvvelS2T

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U.K. authorities said Wednesday that they had raided eight peer-to-peer cryptocurrency-trading platforms operating illegally in London, and will use the evidence gathered to support ongoing criminal investigations.
https://t.co/G1KmxXFFyF ($)

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Federal regulators demurred Monday on whether the U.S. Financial Crimes Enforcement Network's notice of proposed rulemaking to subject all "significant" supervisory actions to review beforehand would apply to matters requiring attention.
https://t.co/gwPHI1Nu39 ($)

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FinCEN's Plan to Take Enforcement Lead Raises Legal Questions
https://t.co/o0j7ynhMaT ($)

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Banks in Switzerland broadly fail to stop cyber-enabled fraud schemes and related attempts to launder money thanks to their disconnected, rudimentary compliance programs and poor governance from the top, the Financial Market Supervisory Authority warned.
https://t.co/kq8sScXj3N

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OCC, FDIC scrap "reputation risk," quantum-computing anti-fraud system passes test, and more, in the midweek roundup.
https://t.co/2ald0NCrIF ($)