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Midweek Roundup: OECD Chides Rich Nations’ AML Efforts, OFAC Fines HSBC Over $30,000 for Sanctions Violations, and More
printThe wealthiest nations in the world should fully comply with the Financial Action Task Force's (FATF) recommendations on beneficial ownership and due diligence, the Organisation for Economic Co-operation and Development (OECD) concluded in a report that examined 34 nations. More The report advised Britain, the U.S. and others to fully implement FATF's revised recommendations and strengthen the supervision of non-financial institutions, the Guardian reported Wednesday. More The Office of Foreign Assets Control penalized HSBC Bank USA, N.A. $32,400 for transacting with blacklisted entities Husayn Tajideen and Tajco. The bank processed at three transactions with Husayn Tajideen and Tajco over a...
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