The Financial Action Task Force updated the list of jurisdictions considered to have material deficiencies with respect to anti-money laundering or countering the financing of terrorism.
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The Financial Crimes Enforcement Network requested comments on a proposal to make anti-money laundering, customer identification program and beneficial ownership rules applicable to all banks.
The House Financial Services Committee released a staff report investigating whether the U.S. Department of Justice's decision not to prosecute HSBC for "serious violations of U.S. anti-money laundering laws and related offenses" was "based on the size of financial institutions and [a] belief that such prosecutions could negatively impact the economy."
The New York Department of Financial Services adopted standards for filtering programs that monitor transactions for potential anti-money laundering and Bank Secrecy Act violations and block transactions that are prohibited by the Treasury's Office of Foreign Assets Control.
The Financial Crimes Enforcement Network proposed prohibiting covered U.S. financial institutions from engaging in certain foreign correspondent account activities with North Korean financial institutions. The proposal was published in the Federal Register.