Inside
· AML Regulatory Updates
· AML Regulatory Findings & Fines
· Monthly Sanctions Update
· AI Driven Automated SAR Narrative
AML Regulatory Updates
Below are the major global AML regulatory updates from November 2024
- Singapore releases Joint Advisory on Rise in Government Official Impersonation Scam Variant Featuring Impersonation of Banks (30 November) Read More
- Italy’s Bruna Szego to lead EU anti-money laundering authority (26 November) Read More
- First anti-trafficking guide for financial institutions launched by OSCE and Swiss Money Laundering Reporting Office (26 November) Read More
- FinCEN Joins Public-Private Partnership to Combat Fraud and Scams Impacting Innocent Americans (25 November) Read More
- India: Modifications under the International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022 (22 November) Read More
- FinCEN Further Extends FBAR Deadline for Certain Financial Professionals (20 November) Read More
- Europe: Report of Eurojust Meetings on Money Laundering and Asset Recovery, 2023-2024 (18 November) Read More
- India: Exempting certain entities/activities from the applicability of International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022 (18 November) Read More
- Oman, Syria sign anti-financial crime MoU (18 November) Read More
- Europe: The EBA issues final guidance on internal policies, procedures and controls to ensure the implementation of Union and national sanctions (14 November) Read More
- FinCEN Issues Alert on Fraud Schemes Involving Deepfake Media Targeting Financial Institutions (13 November) Read More
- FinCEN Requests Comments on Proposed Form for Compliance with Residential Real Estate Rule (12 November) Read More
- India: RBI makes changes to KYC norms to align it with money laundering rules (7 November) Read More
- UK: New failure to prevent fraud guidance published (6 November) Read More
- FATF: South Africa’s progress in strengthening measures to tackle money laundering and terrorist financing (5 November) Read More
- China: Draft law revision aims to better protect personal privacy in anti-money laundering (4 November) Read More
- Dirty Money: Assessing The Vulnerability Of Financial Institutions In The Balkans To Illicit Finance (1 November) Read More
AML Regulatory Findings & Fines
Below are the major AML findings & fines imposed by regulators in November 2024.
- US: United States Obtains Consent Decree with Kings County Man for Alleged Mail and Wire Fraud (29 November) Read More
- Europe: Wise rebuked by European watchdog over money laundering controls (29 November) Read More
- Canada: FINTRAC imposes administrative monetary penalty on Simple Canadian Services (28 November) Read More
- US: Nine Members of Multi-State Money Laundering Organization Charged in Wide-Ranging Conspiracy (27 November) Read More
- US: Court overturns US sanctions against cryptocurrency mixer Tornado Cash (27 November) Read More
- UK: FCA fines former airline executive for trading during closed periods and for trade disclosure failures (27 November) Read More
- UK: MBL fined £13m for serious control failures that allowed trader to conceal over 400 fictitious trades (26 November) Read More
- Singapore: MAS issues Prohibition Orders against Mr Loh Sheng Yang for Cheating, Forgery and Acquiring Benefits of Criminal Conduct (26 November) Read More
- Bahrain: Bank employee jailed and fined (26 November) Read More
- US: Co-Founders of Paycheck Protection Program Lender Service Provider Charged for COVID-19 Relief Fraud Scheme (22 November) Read More
- US: SEC Charges Three Broker-Dealers with Filing Deficient Suspicious Activity Reports (22 November) Read More
- US: Cease and Desist Order against Clear Fork Bank, N.A., Albany, Texas, for violations of law and unsafe or unsound practices related to the Bank Secrecy Act (BSA)/anti-money laundering (21 November) Read More
- US: Personal Cease and Desist Order against Dean A. Lafrentz, former Senior Vice President at Midstates Bank, N.A., Council Bluffs, Iowa (21 November) Read More
- US: Order of Prohibition against Clarice Saw, former Financial Advisor at a New York, New York, branch of Citibank N.A., Sioux Falls, South Dakota (21 November) Read More
- US: Federal Reserve Board issues enforcement action with former chief executive officer of Heartland Tri-State Bank (21 November) Read More
- US: Former Arizona Elected Official Pleads Guilty to Embezzlement of More than $38M of County Funds (21 November) Read More
- US: Treasury Sanctions Gazprombank and Takes Additional Steps to Curtail Russia’s Use of the International Financial System (21 November) Read More
- US: Archegos’ Bill Hwang sentenced to 18 years in prison for massive US fraud (21 November) Read More
- India: BI imposes monetary penalty on The Sundargarh District Central Co-operative Bank Ltd., Odisha (21 November) Read More
- US: Laboratory Owner Charged for $79M Fraud Scheme (20 November) Read More
- US: Federal Reserve Board issues enforcement actions with Small Business Bank (19 November) Read More
- US: OFAC Imposes $1.1 Million Penalty on an Individual for Violations of the Iranian Transactions and Sanctions Regulations (19 November) Read More
- Switzerland: FINMA Risk Monitor 2024: Principal risks for the financial sector and uncertainties due to geopolitical tensions (18 November) Read More
- Malta: Constitutional Court overturns decision on FIAU fines, rules in favour of State Advocate (18 November) Read More
- US: Former Detroit Riverfront Conservancy CFO Pleads Guilty to Embezzling Over $40 million from Conservancy (15 November) Read More
- US: American Life Insurance Company Settles with OFAC for $178,421 Related to Apparent Violations of Iranian Transactions and Sanctions Regulations (14 November) Read More
- US: Portfolio Manager of “A.I.” Investment Fund Arrested for Stealing Fund Assets (14 November) Read More
- US: Bitfinex Hacker Sentenced in Money Laundering Conspiracy Involving Billions in Stolen Cryptocurrency (14 November) Read More
- US: Ex-Banker Pleads Guilty in $16M International Bribery and Money Laundering Scheme Involving Former Comptroller General of Ecuador (13 November) Read More
- Spain: Spain arrests anti-fraud police chief after €20 million ‘found in his home’ (13 November) Read More
- US: Insurance Mogul Pleads Guilty to $2B Fraud and Money Laundering Scheme (12 November) Read More
- UK: FCA fines Metro Bank £16m for financial crime failings (12 November) Read More
- Ireland: Investigation into alleged facilitation of a Criminal Organisation and International Money Laundering Offences (12 November) Read More
- India: RBI imposes monetary penalty on The Sathamba People’s Co-operative Bank Ltd., Aravalli, Gujarat (11 November) Read More
- China: Ministry reveals 5 financial crime cases (7 November) Read More
- US: Bank Manager Sentenced to Prison for Misusing Position to Steal Hundreds of Thousands of Dollars from Bank Customer (6 November) Read More
- India: RBI imposes monetary penalty on Mehmadabad Urban People’s Co-operative Bank Ltd., Mehmadabad, Dist. Kheda, Gujarat (4 November) Read More
- India: RBI imposes monetary penalty on The Rander People’s Co-operative Bank Ltd., Surat, Gujarat (4 November) Read More
- Germany: Russian Tycoon Usmanov Pays €4 Million to Settle German Criminal Probe (4 November) Read More
- US: NCUA Administrative Order: In the Matter of Daniel Garza (1 November) Read More
Monthly Sanctions Update
In our continuous effort to keep you informed and ahead in navigating the complex landscape of global sanctions, we’re bringing you the latest comprehensive update. Here’s a quick summary of the significant changes that have taken place in November 2024:
Overview of Changes
1. New Entries Added: 1,058
2. Entries Removed: 123
3. Major Updates: 319
4. Minor Updates: 123
For detailed insights and the full list of updates, view our Reports.
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