FinCEN to financial institutions: Beware of Venezuelan money laundering
By 
Jaclyn Jaeger2019-05-20T11:23:00
FinCEN recently alerted financial institutions of continued widespread public corruption in Venezuela and the methods Venezuelan senior political figures and their associates may use to move and hide proceeds of their corruption.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
ArticleU.K. sets out strategy to combat bribery and corruption
The U.K. is introducing tougher safeguards and compliance checks in its latest drive to cut down on financial crime and stem the flow of dirty money that continues to be laundered by British businesses, facilitated by accountants and lawyers.
-
PremiumTop Ethics and Compliance Triumphs of 2025
This year’s compliance triumphs were all born out of compliance fails. In some cases, it was a regulator finding fault and demanding change. In others, acquiring companies noticed something a little fishy in their new acquisition. What formed a compliance triumph in every case wasn’t the mistake; it was the ...
-
OpinionBribery exposure doesn’t start with policy failure. It starts with training.
Anti-bribery and corruption failures in financial institutions rarely stem from bad policies.
More from Financial Services
-
Basic PageTrump wants SEC to toss quarterly reporting requirement
President Donald Trump is pushing for a shake-up in corporate reporting rules, calling on companies to file earnings with the SEC only twice a year instead of every quarter.
-
News BriefFCA fines Monzo digital bank $28 million for AML, KYC failures
Britain’s Financial Conduct Authority has fined the online bank Monzo the equivalent of more than $28 million for failing to properly collect customer information and protect against financial crimes. The move is the latest in a series of efforts by British authorities to combat chronic money laundering and other crimes ...
-
PremiumWhy tight controls matter for financial content on social media, says FPC’s O’Shaughnessy
Financial Planning Corporation is a regulated financial planning firm founded 40 years ago, gaining coveted Chartered status in 2008. As the U.K. financial regulator, the FCA promises to clamp down on unregulated “finfluencers” on social media. Moira O’Shaughnessy, managing partner and head of risk and compliance at FPC, explains why ...