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 October 2024
- UK: Anti-fraud tool Confirmation of Payee expanded to hundreds of more firms (31 October) Read More
- FATF identifies jurisdictions with anti-money laundering, combating the financing of terrorism, and counter-proliferation finance deficiencies (30 October) Read More
- Singapore Publishes National Anti-Money Laundering Strategy (30 October) Read More
- US Treasury Issues regulations to implement Executive Order addressing U.S. investments in certain national security technologies and products in countries of concern (28 October) Read More
- FATF: High-Risk Jurisdictions subject to a Call for Action (25 October) Read More
- FATF: Jurisdictions under Increased Monitoring (25 October) Read More
- FATF Greylisting: South Africa’s positive progress (25 October) Read More
- FinCEN Issues Alert to Financial Institutions to Counter Financing of Hizballah and Its Terrorist Activities (23 October) Read More
- Singapore publishes guidelines to MAS Notice FSM-N02 on Prevention of Money Laundering and Countering the Financing of Terrorism – Financial Institutions’ Information Sharing Platform (18 October) Read More
- Singapore publishes guidelines to Notice 626 on Prevention of Money Laundering and Countering the Financing of Terrorism – Banks (18 October) Read More
- FATF changes its grey listing criteria to further focus on risk (17 October) Read More
- FATF: Kuwait’s measures to combat money laundering and terrorist financing (8 October) Read More
- UK: Groundbreaking new protections for victims of APP scams (7 October) Read More
- Singapore: Inter-Ministerial Committee Publishes Recommendations to Strengthen Singapore’s Anti-Money Laundering Framework: ‘Proactive Prevention, Timely Detection, Effective Enforcement (4 October) Read More
- UK: New powers for banks to combat fraudsters (3 October) Read More
AML Regulatory Findings & Fines
Below are the major AML findings & fines imposed by regulators in October 2024.
- US Treasury Takes Aim at Third-Country Sanctions Evaders and Russian Producers Supporting Russia’s Military Industrial Base (30 October) Read More
- India: RBI urges gold loan firms to monitor portfolios following lapses (30 October) Read More
- US: Buffalo man pleads guilty to defrauding lending companies out of millions of dollars with dozens of stolen identities (30 October) Read More
- US: L.A. Fashion District Wholesaler and Two of Its Executives Found Guilty of Money Laundering and Avoiding Tariffs and Taxes (30 October) Read More
- US: Minneapolis Man Sentenced to Prison for Insider Trading Scheme (30 October) Read More
- US: Oakdale Woman Charged with Wire Fraud and Money Laundering for Misuse of Economic Injury Disaster Loan Funds (30 October) Read More
- US: Chicago-Area Rap Promotor Sentenced to Nearly Three Years in Prison for Role in Nationwide Fraud Conspiracy (30 October) Read More
- US: Manchester, NH Man Sentenced to 3 Years for Wire Fraud, Identity Theft (30 October) Read More
- US: Two Members of Transnational Money Laundering Organization Plead Guilty to Laundering Millions of Dollars in Drug Proceeds (30 October) Read More
- Singapore: MAS Imposes Composition Penalty on Atrium Asia Investment Management, Reprimands CEO (29 October) Read More
- US: FinCEN Issues Consent Order Against Card Club (23 October) Read More
- US: Wilsonville Woman Sentenced to Federal Prison for Laundering More than $4.6 Million in Drug Proceeds (23 October) Read More
- US: Venezuelan Television News Network Owner Charged in Alleged $1.2B Money Laundering Scheme (23 October) Read More
- US: FinCEN Assesses $900,000 Civil Money Penalty Against Lake Elsinore Hotel and Casino for Violations of the Bank Secrecy Act (23 October) Read More
- India: FIU slaps Rs 54L fine on Union Bank of India for multiple PMLA violations (23 October) Read More
- US: OCC announces order of prohibition against Lexus Inez Lewis, former Fraud Operations Specialist, for alleged multiple fraudulent activities (17 October) Read More
- US: OCC announces order of prohibition against Leronne D. Kornegay for engaging in a scheme to steal bank funds and false reporting (17 October) Read More
- US: OCC announces order of prohibition against Alexis LeaAnne Day for fraudulent activity (17 October) Read More
- US: OCC announces order of prohibition against Tanya Jazmin Cortez, former Teller and Concierge, for actions resulting in check fraud (17 October) Read More
- US: Raytheon Company to Pay Over $950M in Connection with Defective Pricing, Foreign Bribery, and Export Control Schemes (16 October) Read More
- Singapore: Court Convicts Oon Yun Cong for Fraudulently Inducing Others to Trade Under the Securities And Futures Act (10 October) Read More
- US: OCC Issues Cease and Desist Order, Assesses $450 Million Civil Money Penalty, and Imposes Growth Restriction Upon TD Bank, N.A. for BSA/AML Deficiencies (10 October) Read More
- US: FinCEN Assesses Record $1.3 Billion Penalty against TD Bank (10 October) Read More
- US: TD Bank Pleads Guilty to Bank Secrecy Act and Money Laundering Conspiracy Violations in $1.8B Resolution (10 October) Read More, FRB
- Monaco: Bankers Convicted Over Laundering of Italian Client Cash (8 October) Read More
- US: OCC announces formal agreement with Axiom Bank, N.A. Maitland, Florida, for unsafe or unsound practices (3 October) Read More
- UK: FCA fines Starling Bank £29m for failings in their financial crime systems and controls (2 October) Read More
- US: Former Comptroller General of Ecuador Sentenced in International Bribery and Money Laundering Scheme (1 October) Read More
- Federal Reserve Board announces termination of enforcement action with Citigroup Inc. (1 October) 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 October 2024:
Overview of Changes
1. New Entries Added: 2,005
2. Entries Removed: 194
3. Major Updates: 373
4. Minor Updates: 255
For detailed insights and the full list of updates, view our Reports.
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