CDD

Career officials at the U.S. Treasury Department are pushing back against a Trump administration effort that could require banks to verify customers’ citizenship information, as lenders warn the idea would be costly, difficult to implement, and potentially harmful to the economy.

Binance internal investigators identified VIP accounts they said helped channel more than $1 billion to wallets tied to Iran-linked entities, including one account registered to a 79-year-old Chinese resident and another linked to a suspected Iranian gold smuggler.

Banks and investors are failing to adequately screen for illegal mining risks even when operating in sectors highly exposed to the trade, according to a report by the World Wide Fund for Nature and financial-crime risk platform Themis.

FinCEN said on Friday it had assessed an $80-million civil penalty against Canaccord Genuity LLC over AML failures tied to suspicious trading in OTC securities. 

The White House may soon call on U.S. banks to collect and report citizenship data on their customers as part of the Trump administration’s crackdown on undocumented immigrants, according to new reporting by The Wall Street Journal. 

Sweden’s Financial Supervisory Authority (FSA) has launched an investigation into whether Swedbank is complying with the country’s anti-money-laundering (AML) rules on customer due diligence.

Goldman Sachs has been working with artificial intelligence startup Anthropic for the past six months to co-develop autonomous “AI agents” intended to automate trade and transaction accounting and client vetting and onboarding.

The Reserve Bank of New Zealand (RBNZ) has filed civil proceedings in the High Court against ASB Bank, alleging breaches of core requirements under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act dating from at least December 2019. 

British authorities have seized more than £12 million ($15.6 million) worth of fossilized dinosaur bones as part of a court-approved settlement with Chinese national Su Binghai, a suspect in a sprawling money-laundering scandal that has reverberated from Singapore to London, Bloomberg said. 

Mexico’s banking lobby is urging lenders to adopt tougher rules on illicit finance that go beyond current law, after U.S. authorities moved to sever three Mexican firms from the American financial system for allegedly laundering money for fentanyl traffickers, according to Bloomberg.