China’s central bank said it tightened requirements for lenders to report cross-border transactions by customers as part of stepped-up efforts to curb money laundering.
Regulatory update: HM Treasury’s consultation on imposing monetary penalties for breaches of financial sanctions
On the 1st December 2016, the Office of Financial Sanctions Implementation (OFSI) launched its latest consultation on the imposition of monetary penalties for breaches of financial sanctions rules. OFSI (part of HM Treasury) is seeking views on its consultation paper, which sets out its proposed approach to financial sanction breaches.
Since taking office in May last year, Nigeria’s president, Muhammadu Buhari, has made fighting corruption in government a central goal of his administration.
New York’s financial regulator will delay an anticipated Jan. 1 deadline for banks and insurers doing business in the state to comply with controversial cybersecurity rules, a person familiar with the matter said.
Financial crime prevention laws are never static, and 2016 has proved no exception to the continuous cycle of changes to existing laws and the introduction of new ones.
MPs on the Treasury Committee have called on the government to ensure a single body takes responsibility for security of customers using financial services online.
As regulatory compliance initiatives move toward utilizing machine learning and artificial intelligence (AI), what effect might the increased efficacy of AML programs have on developing nations and small financial players without large compliance budgets? More ...
This article first appeared on LinkedIn. It is republished here with the author's permission. Back in 2013 people in the UK and Ireland found the “beef lasagna” on their plates was “horse lasagna”. In countries where they like ...
KYC360 interviews Ana Linda Solano, former Director of the Economic and Financial Judicial Police in Colombia. Transcript Amos Wittenberg: Thanks for listening in to this episode of the KYC 360.com podcast, a regular series of conversations with leaders ...
Malta’s Minister of Finance failed to answer The Malta Independent’s questions on why it has not transposed the latest EU anti money laundering directive into law. The EU Commission some weeks ago penned a letter to ...
The head of the credit card division of the notorious Tanzania-based FBME Bank allegedly helped an international child pornography ring launder money through the bank, according to a 52-page privileged and confidential report prepared by ...
Global auditing giant KPMG agreed to pay $6.2 million in penalties to settle Securities and Exchange Commission charges that it
Sanctions imposed by other Arab states are continuing to push up food prices in Qatar while hurting the real estate
PwC has been handed a record £5.1 million fine for “extensive” misconduct after admitting a litany of failures in its
Former Russian Economy Minister Alexei Ulyukayev told his bribery trial on Wednesday that he had been framed by a close