Anti-Money Laundering Failure May Result in $900 M Penalty for Westpac

AUSTRAC, Australia's anti-money laundering(AML) regulator, stated that Westpac bank contravened the AML/CFT act on 23 million occasions. Australia’s anti-money laundering and counter-terrorism financing act requires entities, like banks, to report…

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Cryptocurrency Laundering: Two Charged with Helping North Korea Launder Almost $100 Million

Early this month, the United States government charged two Chinese nationals claiming that the defendants helped North Korea launder almost $100 million worth of stolen digital assets. Cryptocurrency laundering has…

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2020 U.S. National Strategy for Combating Terrorist Financing (CFT) and Other Illicit Financing Released

The U.S. Department of Treasury has issued the 2020 National Strategy for Combating Terrorist and Other Illicit Financing. This strategy guides the public and private sectors in addressing current illicit…

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