SARs

Sen. Ron Wyden, the top Democrat on the Senate Finance Committee, is pressing Bank of New York Mellon Corp. for details about $378 million in wire transfers the bank processed involving accounts linked to Jeffrey Epstein, according to a Bloomberg report.

India’s Financial Intelligence Unit (FIU) has rolled out stricter identity verification requirements for cryptocurrency exchanges, aiming to curb money laundering and terrorist financing, CoinDesk reported, citing Press Trust of India.

An elite unit of Portugal’s Public Prosecutor’s Office has taken over a money-laundering investigation involving Elvira Gavrilova Paterson, a Ukrainian movie producer who helped promote alleged crypto frauds linked to Russian entrepreneur Vladimir Okhotnikov, according to the International Consortium of Investigative Journalists. 

A former TD Bank employee pleaded guilty to conspiring to launder monetary instruments after prosecutors said he used his position to help a money-laundering network move hundreds of millions of dollars through the institution. 

Luxembourg’s financial regulator has fined Rakuten Europe Bank €185,000 for multiple breaches of anti-money laundering and counter-terrorist financing (AML/CFT) regulations, according to a new report by the Luxembourg Times.

President Donald Trump on Thursday signed an order directing the federal government to loosen marijuana regulations and accelerate a long-stalled effort to reclassify the drug, a step that could mark one of the biggest federal shifts on cannabis policy in decades, Reuters reported.

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. 

The Trump administration is moving to give the U.S. Treasury Department’s financial intelligence unit a decisive say over how banks are punished for anti–money-laundering (AML) failures, according to new reporting by The Wall Street Journal. 

The United States is tightening its oversight of the tens of billions of dollars resident and undocumented migrants send home each year through Western Union, MoneyGram, and other money services businesses (MSBs), according to a recent U.S. Treasury Department warning.  

The Central Bank of Ireland has fined cryptocurrency exchange Coinbase €21.5 million for failing to properly monitor transactions, including activity potentially linked to child sexual exploitation, drug trafficking, money laundering and other crimes.