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Money Laundering Bulletin

: Fallout: the FinCEN Files; Online Published Date : 06 October 2020 | Appeared in issue: 278 - 28 September 2020; Timon Molloy ([email protected]), Editor

: UK unexplained wealth order yields £10m in property and cash; Online Published Date : 07 October 2020 | Appeared in issue: 278 - 28 September 2020; The UK National Crime Agency has recovered nearly UK£10m in assets from a suspected money launderer in its first successful use of an unexplained wealth order (UWO) solely for alleged involvement in serious organised crime.Mansoor ‘Manni’ Mahmood..

: Informa Law to resume printing & distribution of Money Laundering Bulletin; Online Published Date : 09 October 2020 | Appeared in issue: 278 - 28 September 2020; Followingthe temporary halt to our normal printing and distribution of Money LaunderingBulletin due to the Coronavirus pandemic, Informa Law is pleased to confirmthat the hardcopy publication will begin to be distributed again from 1 January2021...

: Companies House reform: what will it achieve?; Online Published Date : 13 October 2020 | Appeared in issue: 278 - 28 September 2020; John Binns (+44 (0)20 7430 2277, [email protected]) is a partner at BCL Solicitors LLP, specialising in financial crime and money laundering.

: Deutsche Bank fined €13.5m in Germany for late SARs; Online Published Date : 13 October 2020 | Appeared in issue: 278 - 28 September 2020; DeutscheBank has been fined €13.5million by Frankfurt prosecutors for late reporting of suspicious transactionsthat it processed for the Estonian branch of Danske Bank.A criminal investigation into Deutsche’s activity ascorrespondent bank to the..

: System check - some proposals for reforming US AML inspired by the FinCEN Files; Online Published Date : 19 October 2020 | Appeared in issue: 278 - 28 September 2020; Matthew Stephenson (+1 (617) 495-9863, [email protected]) isProfessor of Law at Harvard Law School, where he teaches administrative law,legislation and regulation, anti-corruption law, and political economy ofpublic law.

: First Bitcoin ‘mixer’ & darknet operator fined US$60m by FinCEN; Online Published Date : 20 October 2020 | Appeared in issue: 278 - 28 September 2020; Larry Dean Harmon has become the first person in the US to be fined for running a Bitcoin mixer that serviced criminals on the darknet.FinCEN levied a US$60 million civil penalty [1] on Mr Harmon, who founded and operated Helix and Coin Ninja as..

: Give and ye shall receive; Online Published Date : 21 October 2020 | Appeared in issue: 278 - 28 September 2020; Susan Grossey may be contacted on +44 (0)1223 563636, [email protected], www.thinkingaboutcrime.com

: Needs must… - organised crime ‘assistance’ under Covid-19; Online Published Date : 21 October 2020 | Appeared in issue: 278 - 28 September 2020; One, among many negative impacts of thecoronavirus pandemic is an undermining of legitimate trade. In countries withstrong organised crime traditions, money launderers are seizing the opportunityto subvert or take over hard-pressed businesses then..

: Home front; Online Published Date : 21 October 2020 | Appeared in issue: 278 - 28 September 2020; A shift towards home-based working duringthe Covid-19 pandemic has raised multiple challenges for AML/CFT compliance,from digitally onboarding new customers to changes in consumer behaviour thatimpact transaction monitoring results, and the..

: Difficult choices for UK law enforcement: follow the money or punish the launderer?; Online Published Date : 21 October 2020 | Appeared in issue: 278 - 28 September 2020; Jessica Parker (+44 (0)20 7353 6000, [email protected]) is a partner at Corker Binning.

: Goldman Sachs fined US$350m in Hong Kong over 1MDB bond compliance failures; Online Published Date : 22 October 2020 | Appeared in issue: 279 - 22 October 2020; Risk and compliance failures, including anti-moneylaundering, around three bond offerings for the 1Malaysia Development Berhad(1MDB) sovereign fund, have cost Goldman Sachs (Asia) LLC a US$350 million(HK$2.71 billion) fine by the Hong Kong..

: Goldman Sachs to pay over US$2.9 billion for 1MDB bribery and compliance failures; Online Published Date : 22 October 2020 | Appeared in issue: 279 - 22 October 2020; Goldman Sachs has reached a US$2.9 billion global settlement with prosecutors and regulators in five jurisdictions over its role in bribing public officials and in the alleged embezzlement of more than US$2.7 billion from the proceeds of bond..

: FinCEN Files: is the UK Government’s response enough to fix a failing system?; Online Published Date : 26 October 2020 | Appeared in issue: 279 - 22 October 2020; Caroline Harbord (+44 020 7399 4791, [email protected])is a Senior associatein the Commercial Dispute Resolution team at Forsters.

: UAE fines two exchange houses for lax AML/CFT compliance; Online Published Date : 28 October 2020 | Appeared in issue: 279 - 22 October 2020; Twounnamed exchange houses have been fined AED950,000 (US$258,640) and AED500,000(US$136,125) respectively by the Central Bank of the United Arab Emirates forweak anti-money laundering and counter terrorist financing controls. The CBUAE, which..