- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Dr. Marcus Pleyer, president of the Financial Action Task Force, emphasized his commitment to stopping money laundering in a wide-ranging and forward-looking discussion at the ICA’s BIG Compliance Festival.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
Mark Steward, executive director of enforcement and market oversight at the U.K. Financial Conduct Authority, recently shared insights into the agency’s pipeline of AML investigations and what lies ahead for regulated firms.
Data governance has become a key concern for companies, especially when the EU AI Act and General Data Protection Regulation have put a premium on handling data responsibly and ensuring that artificial intelligence does not cause harm.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
The U.K. has an ongoing problem with money laundering, but recent changes to economic crime law and corporate registration requirements could bring more cases to court, according to consultancy KPMG.
Enforcement actions in the first half of of 2024 by the Treasury Department’s Financial Crimes Enforcement Network highlight the importance of proactive measures in Bank Secrecy Act compliance rather than just being compliant.
The U.K Financial Conduct Authority published findings showing that financial services firms are implementing its guidance on politically exposed persons related to anti-money laundering inconsistently, with experts warning firms of reputational damage arising from potential enforcement.
