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News & Events

Current Topics:

U.S. Names 80 ‘MAJOR’ Laundering Regional in Latest International Narcotics Control Strategy Report INCSR

Few corners of the real, virtual and criminal worlds are safe from the withering gaze of the U.S. State Department in its just-released 2019 International Narcotics Control Strategy Report (INCSR), with some 80 countries reviewed, graded and judged.

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Otting, McWilliams: Agencies Moving Toward More Risk-Based AML Approach

The federal banking agencies plan to reintroduce the examination manual for anti-money laundering/Bank Secrecy Act compliance later this year, Comptroller of the Currency Joseph Otting told the Senate Banking Committee.

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Bitcoin on the OFAC List

The US Government has been monitoring cryptocurrencies for several years. In March 2013, FinCEN’s guidance explicitly called out crypto exchanges where individuals buy and sell crypto currencies, and required they be regulated as Money Service Businesses (MSBs).

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Russian Regulator Pulls License of Bank Owned By Former U.S. Lawmaker Dubbed MOST CORRUPT

A Russian regulator has revoked the license of a financial institution in Russia owned by a former member of Congress – the second time the lawmaker has had issues with banks and financial crime and compliance failures.

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OFAC imposes additional oil sector sanctions connected to Venezuela’s defense and intelligence sector

On May 10, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against two companies for their alleged involvement in the transportation of oil from Venezuela to Cuba, which provides support to former President Maduro’s defense and intelligence sector.

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Conferences & Events:

June 4, 2019- FIBA AML for Correspondent Banking- Certificate Program

June 27, 2019- ACFCS Crypto Compliance Symposium