By

Michelle Martin
On March 17th, 2022, The Financial Crimes Enforcement Network (FinCEN) announced it has assessed a $140 Million Civil Money Penalty against USAA Federal Savings Bank (USAA FSB) for willful violations of the Anti-Money Laundering/Bank Secrecy Act (BSA) and its implementing regulations. To Access full article: Click here
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On March 16th, 2022, Financial Crimes Enforcement Network (FinCEN) announced its efforts to support the multilateral Russian Elites, Proxies, and Oligarchs (REPO) Task Force, announced earlier March 16, 2022, by the U.S. Department of the Treasury and the U.S. Department of Justice. To Access full article: Click here
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March 7th, 2022, The Financial Crimes Enforcement Network (FinCEN), issued a FinCEN Alert, advising financial institutions to be vigilant against potential efforts to evade the expansive sanctions and other United States (US) imposed restrictions implemented in connection with the Russian Federation’s further invasion of Ukraine. The alert provides examples of red flags to assist in...
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On January 16th, 2022, “The Financial Conduct Authority told the Financial Times there were two criminal probes in about 40 active cases where regulators were investigating financial services companies or individuals for failing to check where customers’ money came from.” To Access full article: Click here
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On January 11th, 2022, The U.S. Treasury Department, The Office of Foreign Assets Control (OFAC), announced that Sojitz (Hong Kong) Limited (“Sojitz HK”), a Hong Kong, China-based company that engages in offshore trading and cross-border trade financing, agreed to pay $5,228,298 to settle potential civil liability for apparent violations of the Iranian Transactions and Sanctions...
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October 7, 2021, The National Westminster (NatWest) Bank Plc entered guilty pleas to criminal charges filed by United Kingdom (UK)Financial Conduct Authority (FCA) under the Money Laundering Regulations 2007 (MLR 2007). To Access full articles: Click here Click here
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On October 3rd, 2021, The International Consortium of Investigative Journalists released their latest investigation: The Pandora Papers. The Pandora Papers is a leak of close to Twelve (12) Million documents that reveals hidden wealth, tax avoidance and money laundering by some of the world's powerful and wealthy. To Access full articles: Click here Click here
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On August 26th, 2021, The U.S. Treasury Department, The Office of Foreign Assets Control (OFAC), announced that Bank of China (UK) Limited (“BOC UK”), located in London, the United Kingdom (UK), has agreed to remit $2,329,991 to settle its potential civil liability for processing transactions in apparent violation of OFAC’s now-repealed  Sudan  sanctions  program. To...
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OFAC (The Office of Foreign Assets Control), The U.S. Treasury Department, announced on July 23rd, 2021, Payoneer Inc. (“Payoneer”), a publicly traded New York-based online money transmitter and provider of prepaid access, has agreed to pay $1,400,301.40 to settle its potential civil liability for 2,260 apparent violations of multiple sanctions programs. To Access full article:...
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The Financial Crimes Enforcement Network (FinCEN) issued the first government wide priorities for anti-money laundering & countering the financing of terrorism policy. To Access full article: Click here
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