On Apr. 15, CAN BC GVT issued a statement on AML in real estate. Follows CAN BC GVT Apr. 2019 receipt of money-laundering report. Apr. 15 Statement BC AG, Minister of Finance praised commitment by five real-estate organizations. The bodies have jointly committed, to fighting money laundering in the province. To collaborate and develop best…
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NYSE Post Trade Review
On Mar. 11, NYSE memo on post-trade review for possible fraud. Under CEA Rule 15c3-5 on market access, members must review trades for potentially manipulative, disruptive, and/or other improper conduct on them. Follows guidance by exchange, new guide is read in conjunction. Risk Management Guide On post-trade reviews, use third-party risk management technology, software. Also…
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ASIC New Whistleblowing Laws
On Mar. 13, 2019 AST GVT presented response to report on draft whistleblower bill. On Mar. 22, 2018, the Senate Economics Legislation Committee had issued report. Government agreed with the majority of 12 recommendations made in the report.
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UK HMRC Estate Agents, AML
On Mar. 4, UK HMRC announced estate agents targeted for ML. Unannounced inspections as part of a crackdown on ML in the property industry. HMRC officers visited 50 estate agents across England after they were suspected of trading without being registered as required under money laundering regulations. Visits coincide with HMRC publishing a list of…
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CFPB Elder Financial Abuse
On Feb. 26, CFPB issued report on wide elder financial abuse. Financial institutions report vast increase in older customers prey to exploitation. Perpetrators from offshore scammers to close family members and they’re filing hundreds of thousands of reports with federal government about their suspicions. Report First-public analysis provides better understanding of elder fraud and prevention.…
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SWE SFI Swedbank AML Role
On Feb. 23, 2019, SWE SFI rejected allegation made by Svenska Dagbladet (SvD). It is incorrect that SFI rejected proposal to review Swedbank's Baltic operations. On Oct. 22, 2018 proposal discussed was investigation into SEB, not Swedbank. Meaningful study of Baltic operations needed to be done with Baltic authorities. Described previous steps taken and ongoing…
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