Oversight

Senator Amy Klobuchar speaking to journalists at the Heartland Forum in Storm Lake, Iowa

Two U.S. senators reintroduced a bipartisan bill that would subject informal-value transfers and blank checks to anti-financial crime laws and strengthen the hand of prosecutors pursuing money-laundering charges. 

An exterior shot of a Citi high-rise office

Citigroup executives are increasingly optimistic they can complete the compliance work tied to the bank’s major regulatory consent orders later this year, according to Reuters.

An exterior shot of Brazil's Finance Ministry

Brazil’s Finance Ministry has urged the country’s central bank to tighten regulation around pooled and escrow accounts that authorities say are being used by bad actors to circumvent asset freezes, according to Reuters.

A photograph of a 100-euro bill.

The European Union’s new Anti-Money Laundering Authority said it is on track to become fully operational in 2028, setting out a multi-year plan that flags emerging illicit-finance threats ranging from crypto-assets to “novel payment channels.”

A photo of a Bank of Scotland branch in Halifax

The UK’s Office of Financial Sanctions Implementation (OFSI) has levied a £160,000 monetary penalty on Lloyds Banking Group for violations of Russia sanctions made by its subsidiary Bank of Scotland Plc. 

Jack Zhang, Chief Executive Officer and Co-Founder, Airwallex, Australia speaking in the Start-Ups in Austerity session at the World Economic Forum Annual Meeting 2023 in Davos-Klosters, Switzerland, 20 January. Congress Centre

Australia’s financial intelligence unit has ordered Singapore-based Airwallex to review whether the payments giant has violated the nation’s anti-money laundering (AML) laws.  

National flag of India against a blue sky

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.