AML | Certain Risk

Sumitomo Mitsui Banking Corporation office tower. — J o. Photograph of the SMBC Kobe Office Building. 20 Nov. 2009. Wikimedia Commons, CC BY‑SA 3.0. Edited version.

Fed Terminates AML Order against SMBC

The Federal Reserve terminated a 2019 enforcement action against Sumitomo Mitsui Banking Corp. (SMBC), concluding a six-year period of heightened scrutiny over the institution’s anti-money laundering (AML) practices.

Pemex gas station — Case, D. (2015, July 20). Pemex station near Basilica of Our Lady of Guadalupe Basilica, Mexico City [Photograph]. Wikimedia Commons. Licensed under CC BY‑SA 3.0. Source: Wikimedia Commons, edited

Mexico Launches Crackdown on Cross-Border Fuel Theft

Mexico’s attorney general has vowed to issue more arrest warrants—potentially targeting government officials—in connection with sprawling fuel theft operations that siphon billions of dollars from the country.

JPMorgan Chase Ignored Years of Epstein Red Flags: NYT

JPMorgan Chase processed more than $1.1 billion in transactions for Jeffrey Epstein over a 15-year period, despite repeated anti-money laundering (AML) red flags raised internally, according to an investigative report by The New York Times.

Jersey probes Roman Abramovich for suspected money laundering, sanctions breaches

Jersey authorities are investigating Russian billionaire Roman Abramovich in connection with suspected money laundering and possible sanctions violations, according to Swiss court judgments issued in May.

US Securities and Exchange Commission office building. — Image: Flickr, “U.S. Securities and Exchange Commission,” photo by arsheffield, edited

SEC Closes Swedbank AML Inquiry without Penalty

The U.S. Securities and Exchange Commission has officially closed its 6-year investigation into Swedbank’s anti-money laundering (AML) efforts without imposing an enforcement action.