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ACH Team wrote a new post, COP 26 and Environmental, Social and Governance (ESG) Priorities 2 months ago

The COP 26 climate change conference in Glasgow this November reminded us all about the importance of taking care of our planet. Environmental, Social, and Governance (ESG) priorities have become increasingly […]
ACH Team wrote a new post, The Head of Mexico's Financial Intelligence Unit (FIU) Replaced 2 months ago

The head of Mexico’s financial intelligence unit was replaced on Monday, 8th November 2021. According to the Mexican government, a large amount of cash was found in possession of guests on the way to his w […]
ACH Team wrote a new post, FCA fines Sunrise Brokers LLP £642,400 for Serious Financial Crime Control Failings Concerning Cum-ex Trading 2 months ago

On 12th November, the FCA reported a fine of over £600,000 to Sunrise Brokers LLP for deficient anti-money laundering systems and controls.

This is the second case brought by the FCA concerning cum-ex […]
ACH Team wrote a new post, Pandora Papers and the Real Estate Industry 2 months ago

In the latest report by the ICIJ, the leaked records continue to expose billions of dollars of spending by the rich and famous celebrities and politicians, oligarchs and other members of the uber-rich in luxury […]
ACH Team wrote a new post, US Treasury Published its 2021 Sanctions Review 2 months ago

On 18 October 2021, the US Treasury published its 2021 Sanctions Review. The review concluded that:

The “operational architecture” of US sanctions must be adapted and modernised to consider emerging cha […]
ACH Team wrote a new post, Financial Action Task Force (FATF) Identifies Jurisdictions with Anti-Money Laundering and Combating the Financing of Terrorism and Counter-Proliferation Deficiencies 2 months ago

On October 21, 2021, the FATF added Jordan, Mali, and Turkey to its list of the Jurisdictions under Increased Monitoring and removed Botswana and Mauritius.

The FATF’s list of High-Risk Jurisdictions Sub […]
ACH Team wrote a new post, Office of Financial Sanctions Implementation (UK) Updated Charity Sector Guidance 2 months ago

On 1st November, In response to Afghanistan’s Taliban takeover in August, OFSI updated its Charity Sector Guidance.

The Taliban takeover created a complex situation where people subject to financial sanctions […]
ACH Team wrote a new post, EU Has Amended DRC Sanctions Criteria 2 months ago

The European Union amended the criteria for its Democratic Republic of the Congo sanctions regime, adding “planning, directing, sponsoring or participating in attacks… against medical personnel or hum […]
ACH Team wrote a new post, West Africa Bloc ECOWAS Imposes Sanctions on Mali Leaders 2 months ago

ECOWAS Economic Community of West African States, following its 7 November 2021 summit, announced the imposition of sanctions on Mali (travel ban and asset freeze) on the Malian transition authorities, transition […]
ACH Team wrote a new post, FATF Grey Lists Turkey, Mali and Jordan 2 months, 3 weeks ago

On 22 October, the Financial Action Task Force (FATF), set up by the G7 group of advanced economies to protect the global financial system, has downgraded Turkey to the grey list. Mali and Jordan have also been […]
ACH Team wrote a new post, Credit Suisse Raided 2 months, 3 weeks ago

On October 3, Swiss police raided the offices of Credit Suisse and seized documents relating to the collapse of its $10bn fund range linked to Greensill Capital. The searches were conducted at the request of […]
ACH Team wrote a new post, Executive Secretary Of FATF resigns 2 months, 3 weeks ago

On 23 September, David Lewis, who served as the global anti-money laundering standard setter’s most senior officer, stepped down. He stepped down after six years in the role despite a unanimous agreement by m […]
ACH Team wrote a new post, Pandora Papers: What It Means For AML Practitioners 2 months, 3 weeks ago

The Pandora Papers are 11.9 million leaked documents with 2.9 terabytes of data that the International Consortium of Investigative Journalists (ICIJ) obtained and began publishing on 3 October 2021. A team of […]
ACH Team wrote a new post, Asiaciti Offshore Provider Accused Of Failing To Follow Money Laundering Rules 2 months, 3 weeks ago

The Pandora papers published on October 3, showed that Greame Briggs founder of Asiaciti met with Kirill Androsov who was then the chair of Aeroflot and a former deputy chief of staff to Vladimir Putin in Zurich […]
ACH Team wrote a new post, Chinese Police Bust $124m Money Laundering Scheme 2 months, 3 weeks ago

Chinese police in the Southwest region in China arrested 100 suspects after being on the case for two months and solved 332 cases of telecom fraud nationwide. The police cited that the group was using […]
ACH Team wrote a new post, FATF Open To Amendments To White Paper On Transparency & Beneficial Ownership Of Legal Persons 2 months, 3 weeks ago

The Financial Action Task Force (FATF) opened a public consultation(notice) on its Recommendation 24 (Guidance on Transparency and Beneficial Ownership), a piece motivating entities to have a reliable system to […]
ACH Team wrote a new post, Credit Suisse Resolves Fraudulent Mozambique Loan Case in $547 Million Coordinated Global Resolution 2 months, 3 weeks ago

On 19 October, Credit Suisse Group AG, a global financial institution headquartered in Switzerland, and its subsidiary in the United Kingdom Credit Suisse Securities (Europe) Limited (CSSEL), (together, Credit […]
ACH Team wrote a new post, The Climate Financial Forum Publishes Its Second Guidance To Help Financial Institutions Combat Climate Related Financial Risks 2 months, 3 weeks ago

On 21 October, a second round of guides to help financial firms manage climate-related financial risk was published by the Climate Financial Risk Forum (CFRF). The guidance focus on risk management, scenario […]
ACH Team wrote a new post, UK Updates 2015 Guidance Note Publication On Counter-Terrorism For NGOs And Others 2 months, 3 weeks ago

The United Kingdom has included additions to her 2015 counter-terrorism document- particularly relevant to International Non-Governmental Organizations and other bodies who are likely to come into contact with […]
ACH Team wrote a new post, OFAC Publishes Sanctions Guidance On Virtual Currency Industry 2 months, 3 weeks ago

On 18 October, OFAC issued sanctions guidance on virtual currency industry.

The guidance:

Provides an overview of OFAC sanctions, requirements and procedures;Advises how to “block” digital currency fol […]
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