Sunday, November 29, 2020

AML

Lithuania fines Paysera LT over anti-money laundering violations

The central Bank of Lithuania has issued a fine of 370,000 euros ($439,714) to Lithuanian-capital payment company Paysera LT for its anti-money laundering violations. The company plans to appeal. The central bank says it was identified during an inspection in...

Colombia fines Banco de Occidente for breaching anti-money laundering laws for the 12th time

Colombia’s banking watchdog fined one of the banks of Colombia’s richest man for the 12th time for evading money laundering prevention regulations, according to local media. The Superintendent for Finance’s imposed the $137,000 fine on the Banco de Occidente, one...

Cayman Islands fines Cainvest Bank over anti-money laundering failures

The Cayman Islands Monetary Authority has fined Cainvest Bank and Trust Limited $100,000 for failings in the bank’s anti-money laundering practices. The discretionary fine was for breaches of Cayman’s Anti-Money Laundering Regulations. The financial services regulator said it found instances...

UAE to create new court to focus on money laundering and tax evasion

The UAE will establish a new court that will focus on cases related to money laundering and tax evasion crimes. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the Abu Dhabi Judicial...

UK’s gambling commission fines BoyleSports £2.8 million over anti-money laundering failures

Irish bookmaker Boylesports must pay a £2.8 million sterling (€3.14m) fine and abide by tougher conditions added to its licence, following an investigation by British regulators. Boylesports offers online betting to UK customers through a company called Boylesports Enterprise, which is licensed...

UAE fines seven law firms for persistent violation of anti-money laundering laws

UAE’s Justice Ministry has imposed a Dh100,000 ($27,200) fine on seven law firms for continuing to violate anti-money laundering (AML) and counter-terrorism financing (CTF) measures. The action was taken in accordance with the provisions of Federal Law No. 20 of...

EU finance ministers agree to central anti-money laundering body

European Union finance ministers agreed on Tuesday to set up an EU body that would fight money laundering across the 27-nation bloc, supporting a European Commission proposal from May. The council of finance ministers also gave their backing for the...

Malta’s regulator fines Lombard Bank $397,000 over money laundering breaches

Lombard Bank has been fined €340,058 for breaching anti-money laundering obligations by the Financial Intelligence Analysis Unit. The breaches were identified by the FIAU in an inspection on the bank carried out in September and October 2019. The bank said...

Macau to sign agreement with World Bank Group over money laundering risk assessment

Secretary for Security Wong Sio Chak was granted powers by the Chief executive to sign a Reimbursable Advisory Services Agreement Concerning Risk Assessment of Money Laundering and Terrorism Financing Risks with the International Bank for Reconstruction and Development. The lending...

Mid-Small financial institutions to benefit from Oracle’s Anti-money laundering protection

Oracle today announced new cloud services to help mid-sized banks combat money laundering and outsmart financial crime. Oracle Financial Crime and Compliance Management Cloud Service brings two decades of experience in fighting big bank financial crime to an easy-to-manage, cost-effective application...

Latest News

Texas AG Ken Paxton accused of corruption fires another whistleblower

The Texas attorney general’s office has fired the last remaining whistleblower who alleged Ken Paxton broke the law in doing favors...

Former World soccer chiefs Sepp Blatter, Michel Platini faces fraud charge in FIFA corruption case

Sepp Blatter and Michel Platini are facing a more serious charge of fraud after Swiss federal prosecutors intensified a five-year investigation into the pair’s...

Honduran ex-president Zelaya stopped at airport with $18,000 in cash, denies ownership

Former Honduran president Manuel Zelaya said on Friday that he had been “unjustly” detained at the Central American nation’s Toncontin international airport for carrying...

Indonesian Fisheries Minister Edhy Prabowo arrested over corruption in lobster seed export case

Indonesia's Fisheries Minister Edhy Prabowo faces up to life in jail after being arrested by the country's Anti-Corruption Commission over lobster larvae export permits. The...

U.S indicts Venezuelan in kickback scheme linked to PDVSA

A dual Venezuelan-Italian citizen who controlled multiple companies via U.S. based bank accounts was charged in an indictment returned Tuesday for his role in...

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