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COUNTDOWN: Are you the type of candidate who waits until the last minute to file your CV - or do you get it in at least 24 hours ahead of deadline? Today is the closing date for Chair (CEO/DG) of Europe's new AML Authority #AMLA. Applications must be in by 12 noon Brussels #BXL time! We're sure some of the candidates are this morning still fine-tuning their CVs ahead of the deadline for the €290,000pa role based in #Frankfurt. Senior Correspondent Paul O'Donoghue looks at the type of person the EU is looking for in an update on 'AML Intelligence' this morning. Also today we report on the exit of the Chief Compliance Officer #CCO at Canada's #AML troubled bank, TD. We also have the story on how the Netherlands' #FIU has commented on the wind-down of the country's AML #PPP, Transactie Monitoring Nederland (TMNL). The FIU has remarked that it feels the move may be premature. For this and much more go to the 'AML Intelligence' homepage now. Are you a #Compliance #FCC #AFC #AML professional in #banking #banks #fintech #finreg #regulators and still not an 'AML Intelligence' Member? Don't miss out, join today here: https://lnkd.in/eMbkm6p #followthemoney #KYC #CDD #1LOD #nonfinancialrisk #AFC Stephen Rae James Treacy Alisha H. Tom Downes

Nordea in AML trouble in Denmark, Panama Papers probe ends in whimper, Russia leans in on crypto and ML in property highlighted in US and Holland Here’s your weekend read from AML Intelligence James Treacy Stephen Rae Alisha H. Federica Taccogna Satnam Lehal Philippe Vollot Stefan Simon #banking #compliance #tmnl #kyc #aml #moneylaundering #fincrime #financialcrime #fincen #cams #ofac #sanctions #nordea #danskebabk #deutschebank #abnamro #rabobank #kbc #corruption #egmont #fiu #ecb #eba #ebf #ukfinance

LATEST: Danish police will commence court proceedings against Nordea for failing to check transactions worth almost €3.8 billion involving Russian customers, we report today (Friday). The development in #Denmark follows lengthy #regulatory and now #police investigations into the bank's #AML controls. #Finland based #Nordea says it contests the legality of the charges but nonetheless says it expects to be fined and has provided for same. Earlier, Denmark's National Special Crime Unit (NSK) announced the charges for lack of #AML oversight in transactions for Russia clients. We have the full breaking story, what police are saying and how the bank has responded. Are you an 'AML Intelligence' Member? Keep up to date on the latest news, analysis, opinion and regulatory intelligence. Become an 'AML Intelligence' Member today here: https://lnkd.in/eMbkm6p #followthemoney #aml #cft #banks #banking #fintech #finreg #regtech #regulators Stephen Rae James Treacy Alisha H. Paul O'Donoghue Tom Downes

MID-WEEK NEWSLETTER: Dismay as #TMNL announces wind down in face of Article 75, #EBA warns on #CDD complacency and world’s top banks criticise ‘ineffective’ #STRs It's all in our mid-week newsletter - plus much more! And note for your diary - 'International Anti-Financial Crime Summit 2024' is taking place in London on October 9 next. We are about to announce some exciting speakers. Take advantage of the Early Bird ticket price - available for one week only. James Treacy Stephen Rae Alisha H. Federica Taccogna Philippe Vollot #abnamro #ing #rabobank #volksbank #tmnl #fiu #kyc #cdd #banking #compliance #ecb #ebf #moneyval #unodc #europol #cboi #aml #amlintelligence #moneylaundering #fincrime #financialcrime #cams

The International Anti-Financial Crime Summit 2024 (IAFCS2024) will take place on October 9 next in London. This unmissable conference takes place at the 10 Union Street convention centre, located in the heart of London’s business district. The Summit will feature regulators, policymakers, industry leaders and law enforcement chiefs. Leading speakers, panellists and sponsor partners will be announced soon. The stellar line-up of speakers are drawn from across the UK, EU, US and Middle East. The Summit will discuss the most topical issues facing Chief Compliance Officers, MLROs, FCC and AFC teams in Banking, Fintech, FSIs and Gaming. Secure your place today! James Treacy Stephen Rae Alisha H. Sarah Beth Felix Lauren Kohr Linda Hamilton Aamir Hanif Jim Lee Paul Coady Dr Liliya Gelemerova #IAFCS24 #aml ~amlintelligence #moneylaundering #financialcrome #fcc #afc #moneyval #cams #ecb #eba #ebf #bankofengland #ukfinance #fca #sfo #barclays #natwest #lloydsbank #rbs #hsbc #deutschebank #ofac #sanctions #fentanyl #trafficking #fatf #fiu #europol #police #unodc

UPDATES: The Wolfsberg Group Secretariat (legacy) has called for an overhaul in the way #STRs are used, saying currently they tend to be ineffective and rarely lead to prosecutions. The organisation, which represents many of the world’s largest #banks, said many #lenders currently design their transaction monitoring systems with a view to ensuring “technical compliance”. In a new report ‘Statement on Effective Monitoring for Suspicious Activity’, it said this often leads to “ineffective activities” and too much caution from lenders. “This has resulted in financial institutions gradually reducing the threshold for filing a #STR (Suspicious Transaction Report),” it said. Meanwhile in the US, Silvergate Bank failed to detect nearly $9 billion in suspicious transfers by FTX and its related entities, the SEC said in a complaint filed in the District Court for the Southern District of New York. While in #Singapore today, the government is introducing a new law to make it easier to prosecute money laundering offences. "It will be sufficient for the prosecution to prove beyond reasonable doubt that the money launderer knew or had reasonable grounds to believe that he was dealing with criminal proceeds," a home affairs ministry official said. This would help in the prosecution of money #mules when funds laundered had initially passed through bank accounts and intermediaries in foreign jurisdictions. Last year, Singapore broke up a $2.24 billion money laundering ring run by foreign citizens, with the last of 10 offenders sentenced on June 10. For this and more go to 'AML Intelligence' now. Are you a #Compliance, #FCC, #AFC, #AML professional in #banking #fintech #finreg #regtech and still not an 'AML Intelligence' Member? Our Member are motivated by a desire to be professionally successful. Don't miss out on the latest #regulatoryintelligence. Join today here: https://lnkd.in/eMbkm6p #followthemoney #aml #cft #compliance #financialcrime #moneylaundering #nonfinancialrisk Stephen Rae James Treacy Alisha H. Paul O'Donoghue Tom Downes

IAFCS2024: The excitement once again begins after my visit to #London, which will be the host of this year’s International Anti-Financial Crime Summit 2024, on October 9. This unmissable conference will take place at the 10 Union Street convention centre, located in the heart of London’s business district! With speakers to be announced from next week, will you be attending? Check out the events page here: https://lnkd.in/eZ3U8Eup You can message me with any enquiries! 😊 #London #IAFCS #AML #AFC #Compliance #KYC #banking #FinancialServices #AFCSummit Stephen Rae James Treacy Tom Downes Judy Maguire

MONDAY UPDATE: Congratulations to Laura Padovani (pictured) who was today appointed Chief Compliance and Anti-Financial Crime Officer by Deutsche Bank's Supervisory Board. She will also become a member of #Deutsche's male-dominated Management Board, chairman Alexander Wynaendts said. It's a clear indication of the resolve of the bank to come to terms with its legacy #AML and #AFC issues, which continue to be a drag on the bank's reputation. Padovani succeeds the well-regarded Stefan Simon in his responsibility for #Compliance and #AFC. Simon will focus on his critical role as Management Board member responsible for the #Americas region while also retaining his responsibility for Legal & Group Governance. Moreover, as part of Padovani’s new leadership team, Nita Patel is joining Deutsche Bank as Head of AFC and Group #AML Officer from Credit Suisse on September 1. Padovani’s successor as Chief Compliance Officer #CCO is Graham Kent, currently Head of #Compliance for the Private Bank as well as the EMEA region and Head of Business Selection & Conflicts Office. In other news today US federal law enforcement claimed drug traffickers laundered illicit funds through Citi ATMs due to what they perceived to be looser #AML controls. Also on 'AML Intelligence' Senior Correspondent Paul O'Donoghue reports on the Wolfsberg Group Secretariat (legacy) report into a more effective approach to Monitoring for Suspicious Activity (MSA). Are you in #FCC #AFC or #Compliance in #banking #fintech and still not an 'AML Intelligence' Member? Don't miss out. Join today here: https://lnkd.in/eMbkm6p #followthemoney #aml #cct #banks #banking #fintech #finreg #regtech #regulators #compliance #afc Stephen Rae James Treacy Alisha H. Tom Downes Christian Sewing