AML Weekly Insights and Recap | Week 7th - 11th October 2024

Oct 11, 2024

Hello everyone!

We've been keeping a close eye on the Anti-Money Laundering (AML) world, and there's been a lot happening this week!

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TD Bank hit with record $3 billion fine over drug cartel money laundering – CNN: The bank will pay a $1.3 billion penalty that will be paid to the US Treasury Department’s FinCEN and $1.8 billion to the US Justice Department for violating the Bank Secrecy Act (BSA). The bank “made its services convenient for criminals” and enabled three money laundering networks to tranfer more than $670 million through the bank. The bank “prioritized growth and profit” over compliance and enabled drug trafficking. More details in the article.
The Egmont Group has published a new report named “Best Egmont Cases – Financial Analysis Cases 2021 – 2023” that highlights the work of Financial Intelligence Units (FIUs) across the globe. This report showcases exceptional financial analyses that have played a crucial role in uncovering complex financial crimes, including fraud and money laundering. The purpose of this report is to educate and inspire those in the anti-money laundering community by sharing successful techniques and analytical tools used in various investigations.

In case you missed this week’s LinkedIn posts:

Monday 07/10/2024

Tuesday 08/10/2024

In case you missed our October 2024 edition of the AML News and Updates Newsletter, now is your chance to catch up! With over 32,000 subscribers, it's your go-to source for the month's key AML highlights— available for a quick read of less than 10 minutes.

Wednesday 09/10/2024