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FinancialCrimeRiskOfficers.com

The State Bank of Pakistan has long listed, in a schedule to anti-terrorist legislation, a number of proscribed groups. On 25 September 2016, a Sunday, the first day of the working week in Pakistan, it issued a notice to banks (but only banks) instructing them to freeze the assets of more than 2,000 named persons, individuals and entities, which it says are directly linked to the proscribed groups.

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The actions of Mohamed Lahouaiej-Bouhlel in driving a lorry into many people out for an evening watching Bastille Day fireworks, killing more than 80 and injuring many more, some seriously, was immediately branded an act of terrorism. It was terrible but it was not, necessarily, terrorism. Indeed, early signs were that it was not a terrorist attack in the normal sense of the word and as the story unfolds, it seems that his actions may not have been in the strict definition of terrorism. It's time to tone down the rhetoric and time to teach politicians and the media that they should not rush to use technical terms without a full understanding of what they mean - and how to prove them in Court.

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Ronald S. Calderon, formerly a state senator in California has admitted accepting tens of thousands of dollars in bribes for performing his official duties. No one sees the irony in the fact that he has mitigated his sentence by entering into a plea agreement with the federal government in return for making a cash payment.

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The Monetary Authority of Singapore (MAS) announced today that it has served BSI Bank Limited (BSI Bank) notice of intention to withdraw its status as a merchant bank in Singapore for serious breaches of anti-money laundering requirements, poor management supervision of the bank’s operations and gross misconduct by some of the bank’s staff.

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On or about 2 May, Indian businessman Vijay Mallya left India for the UK to spend more time with his family. Meanwhile, investigations into his financial dealings have continued and, in late April, Indian authorities issued a warrant for his arrest and revoked his passport. He is not, however, stateless: a passport is a document evidencing the right to travel and its revocation does not affect his Indian citizenship. Where do such cases leave financial institutions?

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In 2009, an IRS inspection found "systemic" failures in the money laundering control systems at a small supermarket, Thriftway Food Mart which provided cheque cashing services and the sale of money orders, activities which require it to be registered as a Money Services Business with FinCEN and to impose and maintain appropriate systems. The sole proprietor of the business, who is also its compliance officer, was issued with a warning from FinCEN. So that's all good, then, you might think. Well, ... no.

Israel is at last planning to include tax evasion as an offence within its counter-money laundering laws. It is unjustifiably proud of itself. On the face of it the Bill meets the FATF requirements but underneath the gloss it provides a convenient escape route for the vast majority of Isrealis - and those who may be subject to investigation overseas.

The first Senate hearing into the "alleged" money laundering of USD81 million stolen from the account of the Bank of Bangladesh with the Federal Reserve Bank of New York and transfered to accounts with Rizal Commercial Banking Corporation (RCBC).

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A remarkably simple phishing spam may be one of the most successful at gathering debit card data and therefore giving access to bank accounts.

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If it's got lies in it, it's a spam and putting an address or unsub link doesn't turn lies into truth. But really, one should be able to trust someone promoting "bible verses," right?

Nope.

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42 year old Garth Peterson has been jailed for nine months plus three years' probation in the USA after admitting bypassing anti-bribery controls at Morgan Stanley in Singapore. But, says the US Department of Justice, the company's systems were good enough: the problem was that Peterson knew his way around them too well.

Indonesian authorities are mounting a global manhunt for Muhammad Nazaruddin after he fled the country via Singapore.

Desiree Brown, the former treasurer of a private mortgage lending company, Taylor, Bean & Whitaker (TBW), has pleaded guilty to conspiring to commit bank, wire and securities fraud for her role in a more than USD1,900 million fraud scheme that contributed to the failures of Colonial Bank and TBW.

Authorities in the UK and Switzerland are taking steps to freeze bank accounts and other assets owned or controlled by or connected to Libya's Colonel Gadhafi, his relatives and associates.

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