International news and developments - May 2018

Written by Jason Morris on Friday June 8, 2018


UK Region

The FCA’s business plan and priorities

Technology and global ties: turning the ties on financial crime

Turning technology against criminals

£1.7m to be confiscated from pair convicted of insider dealing

Money laundering and cybercrime included in the NCA’s analysis of serious and organised crime threats

Russian ‘dirty money’ damaging UK security

$4.9bn US penalty for RBS paves way for government share sale

Sanctions and Anti-Money Laundering Act receives Royal Assent


EMEA Region

General data protection regulation (GDPR) effective from 25 May 2018

Malta – potential money laundering red flags on high-level government officials

Belgium – National Bank of Belgium (NBB) publishes updated version of its dedicated section on AML and CFT

Toll fraud – how a criminal network made a fortune through the fraudulent use of counterfeit fuel and credit cards

Qatari foreign minister calls for an end to the blockade of Qatar


APAC Region

Two Australian embassy officials sacked in bribery scandal

Former chairman of Anbang sentenced to 18 years’ in jail for $12bn fraud and embezzlement

Malaysia’s central bank governor resigns after clear-out of officials    

New Attorney General of Malaysia promises ‘no cover-ups’ over 1MDB


North America Region

CDD “Final Rule” effective from 11 May 2018

US reimposes Iran sanctions

‘Community banks’ to get relief from Dodd-Frank regulation

US DoJ launch criminal investigation into potential price manipulation in the bitcoin market    

First big rollback of Dodd-Frank given green light by Congress


LATAM Region

Mexico - Cyber crooks suspected of $20m banking fraud

Political crisis sparked by corruption sends everyday prices rocketing

Pablo Escobar’s widow and son charged with money laundering – and stripped of $1 million 

Legislators in South America call for sanctions against Venezuela

From prison, Brazil’s former president testifies over Brazil’s Olympic bid



Financial probe widens after alleged $500m HSBC SAR

Former South Africa President Jacob Zuma denied request to delay court hearing 

More than half of African companies have been the victim of financial crime






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