AML Weekly Recap and Insights | Week 20th - 24th January 2025
Dear AML Community,
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These are the main news we found interesting for this week:
U.S. Supreme Court Declined to Block Corporate Transparency Act Enforcement: The U.S. Supreme Court declined to block enforcement of the Corporate Transparency Act (CTA), a law requiring businesses to disclose their beneficial owners to the Treasury Department. Enforcement of the law remains suspended due to conflicting lower court rulings.
FCA Urges UK Brokers to Strengthen AML Efforts: The Financial Conduct Authority (FCA) has called on brokers in the UK to enhance their anti-money laundering controls. A recent review identified significant deficiencies, including inconsistent suspicious activity reporting and over-reliance on third-party due diligence. The FCA emphasizes the importance of robust controls to maintain market integrity.
TD Bank's Global AML Officer Steps Down Amid Compliance Overhaul: Herbert Mazariegos, TD Bank’s Chief Global Anti-Money Laundering Officer is stepping down as the bank works to address compliance issues. These changes follow a regulatory fine. Jacqueline Sanjuas, currently head of U.S. financial crime risk management at TD will take over as TD works to improve its anti-money laundering controls.
In case you missed these posts:
Monday 20th January: The Tik Tok Ban: Stress, Scams and Staying safe
Tuesday 21st January: 6 Changes Brought by the New AMLR in EU
Wednesday 22nd January: Whether you are gambling or not…
Thursday 23rd January: Empathy has no place in compliance – think again!
Friday 24th January: Unfairness.. part of everyday life
And if you are a compliance officer in Cyprus, join me for an evening of networking and discussion. The event is sponsored by Binderr. Register here.
The Threat of Money Laundering in Online Gambling and Gaming
That's all for this week! Wishing you great weekend!
Wondering who we are? AML Cube and its associates can assist you with:
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Best regards,
Anna Stylianou
