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2 weeks ago | 
amlintelligence.com | Stephen Rae
— “We will apply economic pressure to the maximum extent possible,” Bessent tells closed-door financial summit By AML Intelligence Correspondents US Treasury Secretary Scott Bessent has called on America’s largest financial institutions to take “maximum action” in cutting off Iran from the global financial system.
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2 weeks ago | 
amlintelligence.com | Stephen Rae
— Risk-based approach to prioritise banks, crypto providers, investment firms and others under new AMLA regime By STEPHEN RAE for AML Intelligence THIS WEEK’s decision by the Lithuanian Central Bank to fine Revolut €3.5 million for FCC failings may have also have put the fintech on the list of those most likely to face direct… Subscribe now to have unlimited access With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis,...
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2 weeks ago | 
amlintelligence.com | Stephen Rae
By AML Intelligence Correspondents DUTCH lender Rabobank said today (Wednesday) it had failed to reach a settlement with prosecutors in their investigation into the bank’s alleged failure to prevent money laundering. Rabobank said prosecutors will now take the case to court.
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2 weeks ago | 
amlintelligence.com | Stephen Rae
— New report calls for cross-sector collaboration and urgent updates to law enforcement toolsBy AML Intelligence CorrespondentsCRIMINALS are increasingly targeting biometric recognition systems as the widespread use of facial ID and fingerprint scanning replaces traditional passwords, Europol warned today (Monday).
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3 weeks ago | 
amlintelligence.com | Stephen Rae
By AML Intelligence Correspondents GARY SHAPLEY, a political appointee, has been made deputy chief of the US revenue’s criminal division IRS-CI and to an “unprecedented” senior advisory role at the Treasury Department, it’s reported. The move gives political appointees a direct line to tax investigations for the first time since Richard M.
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4 weeks ago | 
amlintelligence.com | Stephen Rae
THE BANK chief who revamped Deutsche Bank’s AFC controls has announced he is leaving the organization. Stefan Simon announced Thursday that he is departing “for personal reasons.” Stefan has been leading the bank’s operations in the Americas and based in New York. Stefan previously served on the bank’s Supervisory Board and had been a member of the bank’s Management Board since 2020 – most recently as CEO of the Americas and Chief Legal Officer with additional responsibility for Group Governance.
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1 month ago | 
amlintelligence.com | Stephen Rae
By AML Intelligence Correspondent THE Canadian subsidiary of China’s biggest bank repeatedly failed to review risky clients and file STRs, regulator FinTRAC has found. An unpublished FinTRAC report gives examples of suspicious Industrial and Commercial Bank of China (ICBC) account activity as it apparently cut corners on its financial-crime compliance (FCC) controls.
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1 month ago | 
amlintelligence.com | Stephen Rae
APPLAUSE echoed around the European Parliament chamber in Brussels on Thursday to celebrate the appointment of the five new members of AMLA’s Executive Board. Over two and half hours of hearings MEPs questioned the candidates about their suitability before voting overwhelmingly to appoint all five who will work with AMLA Chair Bruna Szego on the leadership team.
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1 month ago | 
amlintelligence.com | Stephen Rae
Former Head, FIU Latvia; Member of the Management Board, Augstsprieguma tīkls AS TODAY (Friday) is a big day for Latvia. The Constitutional Court has upheld the non-conviction-based confiscation framework we established in 2019 – reaffirming our commitment to fighting illicit financial flows. Given Latvia’s long-standing role as a transit hub for dirty money, building an effective asset confiscation system was both a challenge and an opportunity.
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1 month ago | 
amlintelligence.com | Stephen Rae
Eurogroup President Paschal Donohoe will deliver a Keynote Address at ‘European Anti-Financial Crime Summit 2025,’ it’s been announced. Taking place at the RDS convention center in Dublin on May 7, 2025, the Summit will convene top-tier financial crime compliance leaders, regulators, and policymakers from across Europe, the UK, US and MEA. New AMLA Chair Bruna Szego will also deliver a Keynote Address at the Summit, which will also be attended by Europol Executive Director Catherine De Bolle.