- Home/Publications/Money Laundering Bulletin
Pakistan property magnate agrees UK£190m civil settlement with National Crime Agency
A civil investigation into potential proceeds of crime has yielded UK£190 million in assets after the National Crime Agency agreed a settlement with Malik Riaz Hussain, a leading property developer in Pakistan, and his family. There was no finding..
Online Published Date:
05 December 2019
Appeared in issue:
269 - 25 October 2019
EU ministers greenlight Commission to draft law creating new EU AML authority
By Keith Nuthall
Online Published Date:
06 December 2019
Appeared in issue:
269 - 25 October 2019
Deutsche Bank pays €15m for AML failings; German prosecutors close investigations
DeutscheBank will pay €15 million in penalties to German authorities for failures
around reporting of suspicious transfers by German clients to offshore accounts
between 2015 and 2018.Frankfurt prosecutors have closed connected investigations
into..
Online Published Date:
09 December 2019
Appeared in issue:
269 - 25 October 2019
Baltic International Bank fined €1.56m in Latvia for AML control breaches
Latvia’sFinancial and Capital Market Commission (FCMC) announced a €1.56m penalty against Baltic International Bank
on 6 December [2019] for customer due diligence and monitoring failings. [1]The regulator said that in some cases the bank had not..
Online Published Date:
09 December 2019
Appeared in issue:
269 - 25 October 2019
HSBC pays US$192.4m to draw line under US tax evasion assistance by Swiss unit
HSBC Private Bank (Suisse) SA will pay US$192.4m to end a US criminal investigation into its part in helping customers evade US taxes by use of undeclared Swiss bank accounts. [1]Under a deferred prosecution agreement with the Department of Justice,..
Online Published Date:
11 December 2019
Appeared in issue:
269 - 25 October 2019
Do deepfakes threaten the future of identity verification?
Rebecca Angus (+44 (0) 1235 375 000, marketing@northrow.com), Marketing Manager at NorthRow (www.northrow.com).
Online Published Date:
12 December 2019
Appeared in issue:
269 - 25 October 2019
Turkish FIU role questioned in FATF evaluation report
By Keith Nuthall
Online Published Date:
16 December 2019
Appeared in issue:
269 - 25 October 2019
Russia should focus on complex ML cases & keep fighting law enforcement corruption – FATF report
By Keith Nuthall
Online Published Date:
17 December 2019
Appeared in issue:
269 - 25 October 2019
Magnitsky sanctions and Brexit: a toxic combination?
John Binns (+44 (0)20 7430 2277, jbinns@bcl.com) is a partner at BCL Solicitors LLP, specialising in financial crime, money laundering, and sanctions.
Online Published Date:
18 December 2019
Appeared in issue:
269 - 25 October 2019
S-Pankki Oy fined €980,000 in Finland for KYC breaches
Finnish bank S-Pankki Oy has been fined €980,000 for know your customer failings.The Finnish Financial Supervisory Authority said on 18 December [2019] that it had also found flaws in the bank’s IT systems and processes but no evidence of money..
Online Published Date:
20 December 2019
Appeared in issue:
269 - 25 October 2019
Five banks in South Africa fined or warned over AML deficiencies
The South African Reserve Bank (SARB) has imposed administrative penalties on five banks, and told them to take corrective action, after finding money laundering control failings during routine inspections under the Financial Intelligence Centre..
Online Published Date:
23 December 2019
Appeared in issue:
269 - 25 October 2019
SEB pays €1.8m penalty in Latvia for AML and sanctions breaches
SEB Latvia, subsidiary of the Swedish banking group, wasfined €1.8mon 20 December [2019] for anti-money laundering and sanctions failings.In the course of an inspection during 2017, the Financialand Capital Market Commission (FCMC) found that “on..
Online Published Date:
23 December 2019
Appeared in issue:
269 - 25 October 2019
AB Šiaulių bankas fined €880,000 in Lithuania over ML/TF risk assessments
ABank of Lithuania inspection of AB Šiaulių bankas has revealed shortcomings inmoney laundering and terrorist financing risk assessment both in respect to theinstitution’s activities and the rating of individual clients. Examiners found instances..
Online Published Date:
31 December 2019
Appeared in issue:
269 - 25 October 2019