7 quick KYC/AML/CFT news 22-26 April
?? Latest developments from authorities
1?? European Parliament has adopted?? the (2021) AML/CFT PACKAGE consists of the VI AML directive, the EU “single rulebook” regulation & the Anti-Money Laundering Authority (AMLA) regulation. The laws have to be formally adopted by the Council before publication in the EU’s Official Journal.
2?? European Parliament adopted a resolution?? regarding the Commission Delegated Regulation of 14 March 2024?? (not published in OJ) amending Delegated Regulation (EU) 2016/1675 ? opposing the removal of Panama, Gibraltar & UAE from the list of high risk countries. The resolution argues that the ?? UAE, Gibraltar & Panama are facilitating the circumvention of sanctions imposed on Russia.
3?? FinCEN warns of rising trend in environmental crime and related illicit financial activities. ?? Environmental crimes frequently involve transnational organized crime and corruption and are often associated with a variety of other crimes including money laundering, tax evasion, fraud, bribery, theft, forgery, human trafficking & drug trafficking. ??This FinCEN Notice?? also provides extensive information on the following related crimes: ① wildlife trafficking ② illegal logging ③ illegal fishing ④ illegal mining & ⑤ trafficking in waste and hazardous substances.
4?? Founders and CEO of cryptocurrency mixing Samourai Wallet have been arrested and charged with money laundering?? and unlicensed money transmitting offenses. The cryptocurrency mixer executed over $2 billion in unlawful transactions and facilitated more than $100 million in money laundering transactions from illegal dark web markets, such as Silk Road and Hydra Market.
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5?? Venezuela's state-run oil company PDVSA plans to increase digital currency usage?? in its crude and fuel exports as the U.S. reimposes oil sanctions on the country
6?? German financial supervisory authority BaFin has ordered Commerzbank to pay a fine of €1.45 million for breaching AML obligations??.
7?? Standard Chartered Plc is facing about $1.9 billion worth of investor claims at a London trial over allegations it systematically breached Iranian sanctions to win new business??.