US and UK Govt on tackling global financial crime

US & UK Govt collaborate to develop prize challenges to generate technology innovation to help tackle the global challenge of financial crime. Privacy-enhancing technologies (PETs) could play a transformative role in addressing these financial crimes…

FinCEN rulemaking for no-action letter process 

The Report noted several potential benefits of a no-action letter process, including encouraging a robust and productive dialogue with the public, promoting a culture of compliance, and enhancing transparency in the application and enforcement of the Bank Secrecy...

US Treasury sanctions corrupt police officials

OFAC designated six individuals pursuant to because of their support for, or actions on behalf of, the Cartel de Jalisco Nueva Generacion (CJNG), a violent Mexico-based organization that traffics a significant proportion of the fentanyl and other deadly...

Wells Fargo Advisors fined by U.S. SEC for AML lapses

US SEC charges Wells Fargo Advisors $7million for failing to file at least 34 SARs in a timely manner. Due to Wells Fargo Advisors’ deficient implementation and failure to test a new version of its internal AML transaction monitoring and alert system…

US DoJ on National Firearms & Trafficking Assessment

US DoJ announced the publication of the first volume of the National Firearms in Commerce and Trafficking Assessment (NFCTA), a four-part, comprehensive examination of commerce in firearms and the diversion of firearms to illegal markets…