SARs

Ecuador’s financial regulators have launched a joint probe into possible money laundering at Banco Guayaquil, the country’s third-largest bank by net profit.

ING Belgium has agreed to pay a €1.6 million settlement over alleged failures to report suspicious transactions linked to former European Commissioner Didier Reynders.

The Trump administration’s decision to reclassify marijuana as a less dangerous drug marks a milestone for the cannabis industry, but experts and executives say it falls well short of ending the sector’s longstanding exile from the mainstream financial system.

Canada’s financial intelligence agency has issued a bulletin warning banks and other institutions to be on alert for money laundering linked to an escalating extortion campaign targeting South Asian diaspora communities, particularly in British Columbia, Alberta, Manitoba, and Ontario.

Deutsche Bank has alerted financial regulators of potential breaches of EU sanctions rules involving Russian clients after discovering that its retail unit had accepted deposits of more than €100,000 from individuals subject to the bloc-wide prohibitions.

The European Union’s new anti-money-laundering (AML) supervisor on Thursday launched two consultations on draft rules intended to tighten how companies assess their financial-crime risks and apply compliance controls across corporate groups. 

The U.S. Treasury Department on Wednesday proposed new anti-money-laundering and sanctions-compliance rules for permitted payment stablecoin issuers, marking a major step in implementing the 2025 GENIUS Act and expanding federal oversight of the sector.

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Tuesday proposed a broad rewrite of anti-money-laundering and counterterrorism-financing rules that would shift the focus of compliance from technical box-checking to whether a financial institution’s controls are actually effective. 

The U.S. Financial Crimes Enforcement Network (FinCEN) on Monday issued an advisory urging banks and other financial institutions to step up detection and reporting of healthcare fraud tied to Medicare, Medicaid and other public health benefit programs.

UBS AG processed an $8-million transfer for Ghislaine Maxwell in late 2019 that ultimately helped fund the cash purchase of the New Hampshire estate where she later went into hiding before her 2020 arrest.