Tweet The question every credit union has been asking for the past five years – namely, do we have anti-money laundering law obligations over the financial transactions of business clients that are money services businesses (“MSB“) – was just answered by FinCEN with a $300,000 fine. Last week, FinCEN assessed the fine against the North […]
Tweet The ACAMS 2nd Annual AML & Financial Crime Conference Canada in Toronto on June 9-10, 2014 has an interesting and exciting list of speakers and topics. Highlights of this year’s program include: Corruption Presentation – Interpol’s Michel Girodo. Critical Guidance on Anti-Money Laundering Laws – Jamal El-Hindi, Associate Director, Policy Division, FinCEN. Anti-Bribery Update […]
Tweet JP Morgan, the US financial services entity, is allegedly closing the bank and credit card accounts held by non-domestic politically exposed persons (“PEP“) in the US in order to contain the risks and the costs of compliance with anti-money laundering law in respect of PEPs. At least 3,500 foreign accounts held in the US […]
Tweet On September 30, 2010 one of the landmark abuse of dominance cases in Canada was settled after approximately four years of investigation by the federal Competition Bureau and negotiations with The Canadian Real Estate Association, one of the largest single industry trade associations in Canada. The Consent Agreement entered into between the Competition Bureau […]