Highlights Report

January 2017

1

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

1,817Records

USD 45.09 BnCumulative Penalties

1,880Incarcerations

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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 New York branch for violations of New York 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

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

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

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.

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