FATF releases updated list of high-risk and non-cooperative jurisdictions *

Global - February 25 2013
On February 22, 2013, the Financial Action Task Force (FATF), an inter-governmental policy-making body that develops and promotes policies to combat…

Co-authors: Amy E. Worlton, Serena D. Moe.

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President Obama announces the negotiation of a transatlantic trade and investment partnership with the European Union *

European Union, USA - February 13 2013
In his State of the Union address, President Obama announced that the Administration intends to notify Congress of its intent to initiate…

Co-authors: Nova J. Daly, Timothy C. Brightbill.

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Significant penalties assessed against First Bank of Delaware for AML violations *

USA - November 21 2012
On November 19, 2012, the Federal Deposit Insurance Corporation (FDIC) and the Financial Crimes Enforcement Network (FinCEN) announced their imposition of a concurrent $15 million civil monetary penalty against First Bank of Delaware, Wilmington, Delaware, for its violation of the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws and regulations.

Co-authors: Daniel B. Pickard.

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The U.S. government’s intensified efforts to combat money laundering and the implications for financial institutions *

USA - August 24 2012
On August 20, 2012, the U.S. government announced the seizure of $150 million from the Lebanese Canadian Bank (LCB) for assisting Hezbollah, a U.S.-designated terrorist organization since 1997, in laundering illicit funds.

Co-authors: Daniel B. Pickard.

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U.S. sanctions imposed on major money laundering network *

USA - June 27 2012
On June 27, 2012, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) designated four individuals and three entities for their role in laundering narcotics trafficking proceeds for Ayman Joumaa, an international money launderer and drug trafficker actively operating throughout the Americas, Middle East, Europe, and Africa.

Co-authors: Daniel B. Pickard.

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