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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: anti-money laundering

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

Casinos warned to monitor customers’ fund sources

The chief of U.S. Treasury’s anti-money laundering unit said casinos must use all information at their disposal to uncover suspicious customer transactions, including information about their source of funds.

In her keynote address at a conference Thursday in Las Vegas, Jennifer Shasky Calvery, director of Treasury’s Financial Crimes Enforcement Network (FinCEN), said regulations require casinos to use “all of the information available to them in investigating suspicious transactions.”… Continue Reading

Wedbush accused of inadequate market access risk controls

The Securities and Exchange Commission announced charges Friday against Wedbush Securities Inc., a Los Angeles-based market access provider and two of its officials.

The SEC said poor risk controls resulted in Wedbush granting market access to overseas traders without prea-approval and without ensuring they complied with U.S.… Continue Reading

Check-cashing schemers plead guilty to AML, Bank Secrecy Act violations

Three men pleaded guilty in federal court in New York City Monday for a check-cashing scheme designed to evade anti-money laundering reporting requirements.

Robert Petrosyants and his twin brother Zhan, both of Fort Lee, New Jersey, admitted to conspiring to violate the Bank Secrecy Act for filing false Currency Transaction Reports (CTRs) for cash transactions of more than $10,000.… Continue Reading