News - ComplianceAid Website

7 Caribbean Countries on US Money Laundering List

March 22, 2015Michelle N. MartinNews

Last Wednesday, the United States published it’s 2015 International Narcotics Control Strategy Report which includes a list of Major Money Laundering Jurisdictions. Antigua & Barbuda, The Bahamas, Belize, the British Virgin Islands, the Cayman Islands, the Dominican Republic and Haiti find themselves on this list. The United States defines a major money laundering country as...

Banca Privada d'Andorra named a Foreign Financial Institution of Primary Money Laundering Concern

March 10, 2015Michelle N. MartinNews

The Financial Crimes Enforcement Network (FinCEN) recently named Banca Privada d'Andorra (BPA) as a foreign financial institution of primary money laundering concern. “This finding and notice of proposed rulemaking are based on information indicating that, for several years, high-level managers at BPA have knowingly facilitated transactions on behalf of third-party money launderers acting on behalf...

New Venezuela-related Executive Order and OFAC Designations

March 9, 2015Michelle N. MartinNews

The US Treasury Department announced that an Executive Order has been issued blocking property and placing travel restrictions on certain individuals. Treasury Secretary Lew issued a statement in which he stated in his press release that the target of these designations are “those persons involved in violence against anti-government protesters, serious human rights abuses, and...

U.S. Department of Treasury’s OFAC and U.S. Department of Commerce’s BIS amends Cuba Sanctions

January 17, 2015Michelle N. MartinNews

The U.S. Department of the Treasury’s Office of Foreign Asset Control (OFAC) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) on January 16th, 2015 issued regulations regarding changes to Cuba policy. Travel service providers no longer need to obtain specific licenses from OFAC to provide services for travel to Cuba. A...

Thelist.pro Milestone – Over 15,000 Politically Exposed Persons

January 5, 2015Michelle N. MartinNews

theList.pro has achieve another milestone by adding over 15,000 Politically Exposed Persons

FinCEN fines personally $1M Compliance Officer

December 18, 2014Michelle N. MartinNews

In a decision that sent shock wave across the financial industry and other regulatory industries, the Financial Crimes Enforcement Network (FinCEN) has personally fined $1 million civil money penalty (CMP) against the ex-compliance officer of MoneyGram, Mr. Thomas E. Haider. Mr. Haider failed to ensure that his company abided by the Anti-Money Laundering (AML) provisions of...

Thelist.pro now includes The United States Money Services Businesses Registrant list

December 10, 2014Michelle N. MartinNews

The MSB Registrant list have been added to theList.pro The MSB Registrant list contains entities that have registered as Money Services Businesses (MSBs) pursuant to the Bank Secrecy Act (BSA) regulations at 31 CFR 1022.380(a)-(f), administered by the Financial Crimes Enforcement Network (FinCEN).

Updated 2014 Bank Secrecy Act/Anti-Money Laundering Examination Manual

December 2, 2014Michelle N. MartinNews

The Federal Financial Institutions Examination Council (FFIEC) released an updated Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. The update clarify supervisory expectations and incorporate regulatory changes since the 2010 manual update. To access the 2014 manual click here

Thelist.pro now includes The Foreign Account Tax Compliance Act (FATCA) Foreign Financial Institution (FFI) List

July 15, 2014Michelle N. MartinNews

The Foreign Account Tax Compliance Act (FATCA) Foreign Financial Institution (FFI) List have been added to theList.pro

FATCA portal now open

August 19, 2013Michelle N. MartinNews

The US Internal Revenue Service (IRS) on August 19th, 2013 "announced the opening of a new online registration system for financial institutions that need to register with the IRS under the Foreign Account Tax Compliance Act (FATCA)." (Source: IRS Site) For complete information proceed to FATCA online registration system

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