Governments need to consider taking more “radical” measures to tackle financial crime threats in the wake of the FinCEN Files, even if there is a risk of “intelligence leakage”, an industry poll has found.
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Tranche too hard: Australia edges forward with glacial AML/CTF law reform agenda
Australia has revived its sclerotic anti-money laundering (AML) law reform program with the long-awaited “Phase 1.5” legislation moving through the federal Lower House.
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Crown’s regulatory woes highlight trouble with junkets and money laundering
Australia’s largest casino operator is facing multiple regulatory challenges over its links to money laundering and organised crime, primarily due to its lax controls over junket operators.
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Australia’s AML law reforms have been “mogged” in political reshuffle
Australia’s long-awaited Tranche 2 anti-money laundering (AML) laws have become the victim of a departmental reshuffle, a process known in political circles as being “mogged”, according to a senior bureaucrat.
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Cost of Compliance Report 2020: COVID-19 Update
Thomson Reuters has released its Cost of Compliance 2020: COVID-19 Update, in addition to its unparalleled 11th Regulatory Intelligence Cost of Compliance Report.
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IMPACT ANALYSIS: Final stage of roadmap for enhancing cross-border payments, challenges addressed
The Financial Stability Board (FSB) has published the third and final stage of the roadmap designed to enhance cross-border payments and reverse the decline in correspondent banking.
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WEBINAR: Beyond the FinCEN files: Building a better framework for financial intelligence
Beyond the FinCEN files: Building a better framework for financial intelligence. Hear from global experts on the future agenda for AML/CTF compliance.
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FinCEN leaks mark inflection point for international AML regime, says former DEA agent
The leak of the FinCEN Files has highlighted the ineffectiveness of the international anti-money laundering (AML) regime in terms of securing law enforcement outcomes and should trigger a fundamental review, a former senior U.S. law enforcement supervisory special agent has said
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Crown Resorts in AML crosshairs as AUSTRAC’s enforcement team eyes next target
Australia’s largest casino operator is facing enforcement action from the Australian Transaction Reports and Analysis Centre (AUSTRAC) following a 12-month review of its compliance controls that began in September 2019.
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Afterpay escapes enforcement action over millions of ‘technical’ AML breaches
Australian fintech giant Afterpay has escaped formal enforcement action over millions of “technical” breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
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