Financial crime compliance news

Here are some recent news articles and updates on financial crime compliance:

AML/CFT

• The Financial Action Task Force (FATF) has published a new report on the risks of money laundering and terrorist financing in the digital age. The report highlights the need for countries to implement effective AML/CFT measures to combat these risks. (Source: FATF)
• The European Union's 5th Anti-Money Laundering Directive (5AMLD) has come into effect, introducing new requirements for financial institutions to report suspicious transactions and identify beneficial ownership. (Source: EU)
• The US Treasury Department's Financial Crimes Enforcement Network (FinCEN) has issued a new advisory on the risks of money laundering and terrorist financing in the digital currency sector. (Source: FinCEN)

Sanctions

• The US Treasury Department's Office of Foreign Assets Control (OFAC) has imposed sanctions on several individuals and entities in connection with the Russian invasion of Ukraine. (Source: OFAC)
• The European Union has imposed sanctions on several Russian individuals and entities in response to the invasion of Ukraine. (Source: EU)
• The US Department of Commerce has added several Chinese companies to its Entity List, citing national security concerns. (Source: US Department of Commerce)

Whistleblowing

• The US Securities and Exchange Commission (SEC) has announced a new whistleblower program to encourage individuals to report financial fraud and other violations. (Source: SEC)
• The European Union's Whistleblower Protection Directive has come into effect, requiring companies to establish internal reporting mechanisms and protect whistleblowers from retaliation. (Source: EU)
• The UK's Financial Conduct Authority (FCA) has launched a new whistleblower hotline to encourage individuals to report financial misconduct. (Source: FCA)

Regulatory Developments

• The US Federal Reserve has proposed new regulations to strengthen the oversight of large banks and systemically important financial institutions. (Source: Federal Reserve)
• The European Central Bank (ECB) has published a new report on the risks and challenges facing the European financial system. (Source: ECB)
• The UK's Prudential Regulation Authority (PRA) has published a new consultation paper on the regulation of cryptoassets. (Source: PRA)

Enforcement Actions

• The US Department of Justice (DOJ) has announced a new initiative to combat financial fraud and money laundering in the healthcare industry. (Source: DOJ)
• The SEC has filed charges against several individuals and entities for alleged violations of securities laws and regulations. (Source: SEC)
• The UK's Financial Conduct Authority (FCA) has taken enforcement action against several firms for alleged breaches of financial regulations. (Source: FCA)

These are just a few examples of recent news articles and updates on financial crime compliance. It's essential to stay up-to-date with the latest developments to ensure compliance with relevant regulations and laws.