July 15-19, 2024 - Top KYC/AML/CFT Headlines

1?? ONPCSB (FIU Romania) has published 2 new guidelines : ①Guide on the identification of PEP?? ② Practical guide on combating ML/TF in the real estate sector??

2?? UK Parliament published a research exploring sanctions against countries that support Russia's invasion?? of Ukraine, with a focus on the evasion of these sanctions and the roles of specific countries like Belarus, Iran, North Korea and China.

3?? Following the EU 14th sanctions package: ①Council updated the EU Guide Best Practices for the Effective Implementation of Restrictive Measures?? see Chapter VIII. Ownership and Control & IX Acting on behalf; ②Commission issued FAQ concerning the “No re-export to Russia” clause?? with focus on Art.12g of Reg. No. 833/2014.

4?? UK FCA calls on firms to improve treatment of politically exposed persons (PEPs)??, to do more to ensure parliamentarians, senior public servants and their families are not treated unfairly. ?

5?? A former executive banker has been extradited from the UK to the US for bribing Ghanaian officials, charged with violating the Foreign Corrupt Practices Act and conspiring to commit money laundering??.

6?? Dutch construction equipment supplier Dieseko Group B.V. has been fined €1.8M for its involvement in the illegal construction of the bridge in Crimea in violation of international trade sanctions??. The settlement included a fine of €180K and then the forfeiture of €1.6M in illegal gains.

7?? German authorities have arrested and charged a Lebanese citizen and member of the militant group Hezbollah with procuring components for drones?? to be exported for use in attacks against Israel.

8?? Former Greek defense minister Yiannos Papantoniou, his wife and a close associate are charged with money laundering and bribery?? (€2.5 M) for alleged facilitation of contracts in 2003.

9?? US Fed fined Green Dot $44M for failing to maintain effective consumer compliance risk management and anti-money laundering programs??.

??Euroclear will make the first payment of €1.55B following the EU’s implementation of legislation allowing to apply a windfall tax to the profits generated by Russia immobilized assets.??