2. Introduction
AMLMaps™ has been developed to give the
global Anti-Money Laundering professional a
singular, comprehensive and easy to
reference resource for AML records,
penalties & actions, from across the world.
AMLMaps™ is currently in Beta Mode, as
our team of experts, researchers and AML
professionals continue to develop & enhance
its features with valuable inputs & insights,
given by users.
We aim to keep AMLMapsTM updated,
crowd-sourced and free-to-use.
Please visit us at www.amlmaps.com
1,817
Records
USD 45.09 Bn
Cumulative Penalties
1,880
Incarcerations
2
3. Highlights of the Month of Dec 2016
HIGHLIGHTS OF THE MONTH
Regulators of United States (27) & United Kingdom (6) reported the highest
number of cases
Highest imprisonment was awarded to former Northern Cape African National
Congress (ANC) Chairperson and finance MEC, John Block (144 months) along
with a confiscation order (ZAR 2,000,000) for conspiracy to commit money
laundering and fraud
Highest penalty of USD 235 Mn has been imposed on Intesa Sanpaolo S.p.A.
and its NewYork branch for violations of NewYork anti-money laundering and
Bank Secrecy Act (AML/BSA) laws
Federal Bureau of Investigation, Internal Revenue Service (IRS), Monetary
Authority of Singapore & South African Reserve Bank have been most active in
investigating and combating money laundering
3
AML Numbers
Cases Reported 22
Incarcerated 28
Imprisonment 1,187 Months
Penalties $290.26 Mn
4. Noted AML Cases for the Month
4
Intesa Sanpaolo S.p.A. and its New York branch
penalized for anti money laundering violations
New York Department of Financial Services (DFS)
imposed monetary penalty of USD 235,000,000 on the
Italian bank, Intesa Sanpaolo S.p.A. and its New York
branch in December 2016, for violations of New York
anti-money laundering and Bank Secrecy Act (AML/BSA)
laws. The bank violations include compliance failures
over several years stemming from deficiencies in the
implementation and oversight of its transaction
monitoring system.
Source: http://on.ny.gov/2i9waa8
Credit Suisse Securities LLC penalized for anti money
laundering violations
Financial Industry Regulatory Authority (FINRA) imposed monetary
penalty of USD 16,500,000 on Credit Suisse Securities LLC in
December 2016, for anti-money laundering violations involving
microcap stock transactions and for not properly implementation of
systems to monitor for potentially suspicious money movements.
Sources: http://bit.ly/2hRJ7rl | http://bit.ly/2iCyWWn
Former Budget Minister of France sentenced for money
laundering offenses
Jerome Cahuzac (Cahuzac), former Budget Minister of France
was sentenced to 3 years’ imprisonment by Paris Court in
December 2016, for conspiracy to commit money laundering and
tax fraud. Cahuzac’s ex-wife, Patricia Menard was sentenced to 2
years' imprisonment for her role in stashing millions of euros
abroad from the couple's lucrative hair transplant business. The
Court also sentenced Swiss Banker, Francois Reyl to 1 year
suspended sentence and ordered him to pay fine amount of USD
405,000, and imposed monetary penalty of EUR 1,875,000 on
Reyl Bank, for assisting the couple.
Sources: http://bit.ly/2iHonnx | http://bit.ly/2iOvlo1
Standard Chartered Bank, Singapore Branch
penalized for anti money laundering violations
Monetary Authority of Singapore (MAS) imposed monetary
penalty of SGD 5,200,000 on Standard Chartered Bank,
Singapore Branch (SCB) in December 2016, for deficiencies in
the bank’s customer due diligence measures and controls for
ongoing monitoring, which resulted in numerous breaches of
MAS’ AML regulations. The bank has also been directed to
appoint an independent party to confirm that rectification
measures have been effectively implemented and to report its
findings to MAS.
Source: http://bit.ly/2h0ZMJQ
Former Northern Cape African National Congress (ANC) Chairperson
sentenced for money laundering Offenses
South Africa-based former Northern Cape African National Congress (ANC)
Chairperson and finance MEC, John Block was sentenced to 12 years' imprisonment
and ordered to pay confiscation order of ZAR 2,000,000 by Northern Cape High
Court in December 2016, for conspiracy to commit money laundering and fraud. He
was also sentenced to 15 years' imprisonment for fraud.
Sources: http://bit.ly/2j8eDTM | http://bit.ly/2izkpNi
5. Trending News
5
Adani companies facing
multiple financial crimes,
corruption probes
Adani Enterprises Ltd, an
Indian multinational
conglomerate company with
diversified businesses, is
undergoing two separate
investigations by Indian
authorities into allegations of
trade-based money laundering.
Adani Enterprises is facing
multiple financial crime and
corruption probes for
siphoning money offshore and
artificially inflating power
prices at the expense of Indian
consumers.
http://ab.co/2hdtj3K
Police arrest 22 Hong
Kong citizens in a HKD
13 million money
laundering crackdown
According to South China
Morning Post, in
December 2016, Hong
Kong Police arrested 22
Hong Kong citizens who
were accused of laundering
HKD13 million through
their bank accounts. The
money was suspected to
have been linked to 18
deception cases included
investment frauds and
email scams in Canada,
Singapore, Taiwan, South
Korea and Africa last year
and this year.
http://bit.ly/2i9VWex
South African lender
FirstRand closed
accounts for money-
laundering suspicions
In December 2016,
FirstRand, South Africa's
biggest bank by market value
cut ties with Oakbay
Investments, a Gupta
brothers’ company, on
suspicions of money-
laundering. The Gupta’s
whose businesses range
from media to mining, are
alleged for influence-peddling
in President Jacob Zuma's
government. Between
December 2015 and April
2016, Standard Bank,
Nedbank and Barclays
Africa, terminated the
accounts of Gupta’s
companies.
http://bit.ly/2iJ79qT
U.S. charges Florida men
with laundering money for
Venezuelan officials
In December 2016, Florida
construction equipment
exporter's owners were
arrested on charges of illegally
transferring over USD100
million from businesses largely
in Venezuela to U.S. and
foreign bank accounts
belonging to Venezuelan
government officials and
others. The owners allegedly
facilitated hundreds of
transmissions of funds into the
United States on behalf of an
unnamed large consortium of
Venezuelan construction
companies. A case has been
filed against them at the
Manhattan federal court.
http://reut.rs/2jGut7Q
Backpage.com accused with
new pimping, money-
laundering charges by
California Attorney General
In December 2016, California
Attorney General, Kamala
Harris filed criminal charges of
pimping and money laundering
against the chief executive and
controlling shareholders of the
website Backpage.com, reviving a
case that was earlier dismissed
by a judge. Backpage, the
second-largest U.S. online
classified ad service after
Craigslist, has faced scrutiny
from the U.S. Senate as well as
civil lawsuits over allegations
that the site facilitates sex
trafficking, especially of children.
http://reut.rs/2iSaVZS
6. Contributors
6
Name Country
Oyvind Norberg Norway
Natarajan K India
Lukasz Poland
Guillermo Ruiz Mexico
Steven Kemmerling USA
Anne Jablonski USA
AMLMapsTM incorporates core elements of a crowd-sourcing by leveraging contributions, suggestions and inputs from
the AML & FCC community around the world. We would like to recognize noted contributors, who have engaged with
the AMLMaps team, in the past month.
