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.
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.
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.
OFAC Blacklists Cyber Scammers in Southeast Asia
The U.S. Treasury Department on Monday blacklisted 19 entities linked to large cyber-scam compounds in Southeast Asia that have targeted Americans in romance and cryptocurrency-investment swindles.
Watchdog Calls for New Beneficial Ownership Standards in UK Territories
The UK should standardize beneficial-ownership requirements across its Overseas Territories and Crown Dependencies, an international watchdog group said.
JPMorgan to Pay $330 Million to Resolve 1MDB Case in Malaysia
JPMorgan Chase will pay $330 million to the government of Malaysia to settle claims that it facilitated the processing of $800 million in fraudulent transactions linked to the looting of Malaysia’s sovereign wealth fund, 1MDB.