Skip to content

Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Posts Tagged: AML

Banks can de-risk and still make money

Regulators are tightening their grip on anti-money laundering compliance. As a result, banks and other financial institutions have begun to re-examine the ways in which they address risk in their operations.… Continue Reading

FinCEN advisory defines ‘culture of compliance’

The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) defined the concept of a “culture of compliance” in a six-page advisory  Monday that was aimed at senior management, leadership and owners of financial institutions subject to FinCEN’s regulations.… Continue Reading

PEPs and EDD: Charlotte Hill on the FCA’s annual AML report

The UK’s Financial Conduct Authority issued its second anti-money laundering annual report in July, emphasizing obligation to prevent financial crime and enhance AML systems and controls in specific ways.

I spoke to Charlotte Hill, a partner in Covington Burling’s London office, and a former lawyer in the enforcement department of FCA’s predecessor, IMRO.… Continue Reading

Money services business penalized for repeated AML deficiencies

The Financial Crimes Enforcement Network (FinCEN) announced Tuesday its assessment of a civil penalty against Georgia-based Mian, Inc. for violating the Bank Secrecy Act’s program and reporting requirements.

Mian, a money services business (MSB), committed numerous violations even after being put on notice by the Internal Revenue Service’s that it had deficiencies in meeting its reporting obligations.

Continue Reading