FINTRAC Announces Anti-Money Laundering and Terrorist Financing Amendments Affecting Businesses
FINTRAC announced legislative amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act from the Strengthening Canada's Immigration System and Borders Act and the Budget 2025 Implementation Act, effective March 26, 2026. Key changes include a new administrative monetary penalties framework with increased maximum penalties, new compliance program requirements, universal enrolment for reporting entities, and stablecoin issuer registration requirements. The amendments elevate certain compliance violations to very serious and introduce compliance orders as a new enforcement tool.
Swiss Sanctions Against Taliban Updated via UN Security Council Amendments
SECO announced that the UN Security Council sanctions committee amended its list of sanctioned individuals, companies, and organizations associated with the Taliban. The Swiss SESAM database has been updated accordingly. Since March 2016, Switzerland has automatically applied UN Security Council sanctions lists without delay upon amendment.
OCC Enforcement Actions for April 2026: Consent Order Against Federal Savings Bank, Two Prohibition Orders, and Three Terminations
The OCC announced enforcement actions for April 2026 including a consent order against The Federal Savings Bank for deceptive practices involving VA cash-out refinance loans with excessive fees and rate increases, prohibition orders against two former associate bankers for embezzlement totaling over $237,000 from customer accounts, and three termination orders releasing banks from prior enforcement actions upon demonstrated compliance.
Modern Integrated Solutions Licensed for BNPL by SAMA
SAMA (Saudi Central Bank) has granted Modern Integrated Solutions a license to provide Buy Now, Pay Later (BNPL) payment services. The license enables the company to operate as a BNPL provider in the Saudi Arabian market under SAMA's regulatory supervision.
Nicaragua Sanctions Designations Include 8 Individuals, 6 Entities
Nicaragua Sanctions Designations Include 8 Individuals, 6 Entities
EBA Seeks Feedback on Draft 4.3 Technical Package for AML and TCB Reporting Framework
The European Banking Authority published a draft technical package for Reporting Framework version 4.3, covering AML and third-country branch (TCB) supervisory reporting. The package includes new Implementing Technical Standards on TCB reporting per CRD Article 48l(1) with first reference date 31 March 2027, and DPM/XBRL taxonomy supporting AMLA direct supervision identification with first reference date 31 December 2026. Stakeholders must submit feedback by 10 May 2026 using the EBA feedback form.
EU Bank High Earners Increase to 2,554 in 2024
The European Banking Authority published its 2024 Dashboard on high earners, reporting that the number of individuals in EU banks earning more than EUR 1 million increased to 2,554 in 2024, up from 2,343 in 2023. In credit institutions, high earners rose 7% to 2,266, while investment firms saw a 30% increase to 288. The weighted average variable-to-fixed remuneration ratio was 98% for credit institutions and 359% for investment firms. The report notes persistent gender imbalance in high-paid positions.
German Household Assets €9.5T, Up €148B in Q4 2025
The Deutsche Bundesbank released sectoral financial accounting results for Germany in Q4 2025, reporting that private household financial assets rose to €9.504 trillion, an increase of €148 billion from the previous quarter. Households accumulated €78 billion in new claims and recorded €70 billion in valuation gains. Real returns improved for wealthier households but remained negative for lower-asset households, who hold predominantly liquid but low-yielding deposits and insurance claims.
Community Bankshares Cease and Desist Order
The Federal Reserve Board issued a Cease and Desist Order against Community Bankshares, Inc., LaGrange, Georgia, dated April 14, 2026. The enforcement action targets the bank holding company and requires it to cease and desist from practices identified by the Federal Reserve. The specific violations and compliance requirements are detailed in the attached order document.
Training Session on New Settlement Agreement Policy and Enforcement Guide
The FIAU Malta announced a training session on its new Settlement Agreement Policy and Enforcement Guide for April 2026. The session will feature senior FIAU officials including Director Alfred Zammit and MFSA CEO Kenneth Farrugia, along with enforcement and legal staff who developed the policies. The training covers settlement mechanisms, enforcement discretion, remediation expectations, and practical case studies for AML/CFT compliance professionals.
AML Settlement Framework: Legal Notices 82 and 83, New Guidance Documents
FIAU Malta announces Legal Notices 82 and 83 (effective April 1, 2026) granting authority to enter settlement agreements for administrative penalties and introducing out-of-court settlement procedures for pending appeals. Four new guidance documents are published: the Enforcement Guide, CMC Governing Principles and Framework, Policies and Procedures on Publication of AML/CFT Penalties, and Settlement Agreement Policy.
Smart Money Talks – 100 Years National Currency Speech
Bank of Albania Governor Gent Sejko delivered remarks at the Global Money Week 2026 opening ceremony, coinciding with the 100th anniversary of Albania's first national currency. The speech celebrated the history of the Albanian Lek, highlighted advancements from cash-based to electronic payments, and promoted financial literacy among youth under the theme 'Smart Money Talks.'
Resilient Payments: Cash, Card, Connected - DNB Strategy Speech
De Nederlandsche Bank Executive Board Member Bas ter Weel delivered an opening address at DNB's Retail Payments Research Conference 2026 outlining the bank's Payment Strategy for 2026-2028. The strategy emphasizes trust through a resilient, secure, and accessible payment system with three priorities: reducing reliance on non-European players in critical payment infrastructure, expanding European digital payment options, and maintaining public money availability through cash and a future digital euro. The speech highlights cash as a fallback mechanism during digital disruptions, noting 70% of Dutch adults maintain emergency cash reserves as recommended by the National Forum on the Payment System.
Rural Communities: Worth the Investment
Federal Reserve Governor Michael S. Barr delivered a speech on rural investment at a Washington DC forum on April 14, 2026. The speech highlighted innovative solutions for rural economic challenges, including examples of community development financial institutions (CDFIs) preserving banking access and New Markets Tax Credits supporting tourism redevelopment in the Mississippi Delta. The views expressed are those of the speaker and do not represent official Federal Reserve policy.
Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
The Federal Reserve published a notice on change in bank control notices regarding acquisitions of shares of banks or bank holding companies. The document (91 FR 20456) outlines the process and requirements for filing notices under the Bank Control Act. This is a 1-page Federal Register notice providing regulatory guidance on share acquisitions requiring Federal Reserve review.
Imposition of Special Measure Prohibiting Certain Transmittals of Funds Involving CIBanco S.A., Institución de Banca Multiple; Amendment
FinCEN is amending the order published at 90 FR 27770 (June 30, 2025), as subsequently amended, to impose a special measure prohibiting certain transmittals of funds involving CIBanco S.A., Institución de Banca Multiple. The amendment takes effect as of April 16, 2026. Financial institutions and other parties engaged in transmittals of funds must comply with this prohibition regarding CIBanco.
Proposed New and Renewal of Agency Information Collections Request for Comments
The National Credit Union Administration (NCUA) has published a Federal Register notice requesting public comments on proposed new and renewal of agency information collections under the Paperwork Reduction Act. Credit unions and other interested parties have until May 18, 2026 to submit comments on these information collection requests. The notice outlines the specific data collections NCUA seeks to renew or newly implement for regulatory oversight purposes.
Order to Further Strengthen U.S. Treasury Market Liquidity
The CFTC approved an exemptive order enabling Chicago Mercantile Exchange Inc. and the Fixed Income Clearing Corporation to extend their existing cross-margining arrangement to certain customers. The order permits joint clearing members dually registered as SEC broker-dealers and CFTC futures commission merchants to hold futures customer funds in a commingled customer account at FICC. Previously, only clearing members could cross-margin futures positions in U.S. Treasury securities with cash market positions cleared at FICC.
John Fortini Pays $1.3M Disgorgement, Permanent Trading Ban for Commodity Pool Fraud
The CFTC obtained a consent order from the U.S. District Court for the Southern District of Florida against John Fortini, a Florida resident and former executive at Algo Capital LLC. Fortini was ordered to pay $1,347,867.56 in disgorgement for commodity pool fraud involving misappropriation of customer funds and material misrepresentations about proprietary trading algorithms. The court imposed a permanent trading ban and permanent injunction against Fortini from further violations of the Commodity Exchange Act.
OFAC Sanctions Drug Trafficking and Terrorism Actors Under E.O. 14059 and E.O. 13224
OFAC designated Jesus Reymundo RAMOS VAZQUEZ and other persons under Executive Orders 14059 and 13224, blocking all property and interests in property subject to U.S. jurisdiction. The action was taken based on determinations that subjects meet criteria for sanctions related to illicit drug trade and terrorism. U.S. persons are prohibited from engaging in transactions with these designated persons.
RBI Amends NBFC Branch Authorisation Directions
The Reserve Bank of India has issued Amendment Directions amending the NBFC Branch Authorisation Directions, 2025, effective immediately. The amendments provide operational flexibility for Non-Banking Financial Companies to open branches without prior RBI approval, unless specifically restricted. Key changes include substitution of Paragraph 3(1) clarifying applicability to various NBFC categories, renaming the subsection heading, and modifying Paragraphs 5 and 6 governing branch opening requirements.
UAPA Sanctions Update: 4 Amendments to UNSC Taliban Sanctions List
RBI has communicated amendments to 4 entries on the UN Security Council's 1988 (2011) Taliban Sanctions List pursuant to Section 51A of the Unlawful Activities (Prevention) Act, 1967. The amendments include updates to entries TAi.002 (Mohammad Hassan Akhund) and TAi.024 (Abdul Ghani Baradar), with changes to designations, biographical data, and tribal affiliations. Regulated entities must ensure no accounts are held for individuals or entities appearing on the UNSC-sanctioned lists.
Stablecoins at Scale: Compliance Priorities in a World of Concentrated Illicit Risk
ACAMS Today News published an opinion column by Ari Redbord discussing stablecoin compliance priorities and the concentrated illicit financial risk present in the stablecoin ecosystem. The article addresses AML considerations for financial institutions dealing with stablecoin transactions and digital asset compliance frameworks.
Evolving AML Compliance for Emerging Threats
ACAMS Today published a member perspective article by Ramanathan Karuppiah examining how anti-money laundering compliance programs are evolving to address emerging threats in financial crime detection and prevention. The article discusses practical solutions and trends for compliance professionals navigating new challenges in AML monitoring. No new regulatory obligations, deadlines, or penalties are established.
Nevada Business Owner Sentenced to 54 Months for $100M COVID-19 Tax Fraud Scheme
Candies Goode-McCoy, formerly of Las Vegas, Nevada, was sentenced to 54 months in federal prison and three years of supervised release for conspiracy to defraud the United States by fraudulently claiming nearly $100 million in COVID-19 employment tax credits. McCoy filed more than 1,200 fraudulent tax returns from June 2022 through September 2023, seeking refunds totaling over $98 million based on the employee retention credit and paid sick and family leave credit. The IRS paid approximately $33 million as a result of the scheme, and McCoy personally received over $1.3 million in fraudulent refunds plus $800,000 from clients for filing fraudulent returns.
Insurance Brokers Pay $135M for ACA Enrollment Fraud Scheme
AP of South Florida (APSF) pleaded guilty to major fraud against the United States and agreed to pay $27.6M in criminal restitution for its role in an ACA enrollment fraud scheme. In a parallel civil resolution, parent company AssuredPartners, Inc. agreed to pay $107M to resolve False Claims Act allegations. The scheme fraudulently enrolled vulnerable, low-income individuals in fully subsidized ACA plans for which they did not qualify, resulting in $141.5M in unwarranted subsidies.
Scam Alert: Three Hong Kong Banks, Fraudulent Websites and Phishing Messages
The HKMA issued a scam alert on April 15, 2026, warning the public about fraudulent websites, internet banking login screens, and phishing instant messages associated with Shanghai Commercial Bank Limited, Chong Hing Bank Limited, and Bank of China (Hong Kong) Limited. The alert clarifies that legitimate banks do not send SMS or emails with embedded hyperlinks to conduct transactions or request sensitive information such as login passwords or one-time passwords by phone, email, or SMS. Members of the public who may have provided personal information or conducted financial transactions through these scams should contact the relevant bank and report the matter to the Hong Kong Police Force Crime Wing Information Centre.
Ministry of Finance Issues Renminbi Sovereign Bonds through Central Moneymarkets Unit
The Ministry of Finance issued Renminbi Sovereign Bonds through the Central Moneymarkets Unit of the Hong Kong Monetary Authority. The HKMA published tender notices, information memoranda, and tender-related documents for the bond issuance. No compliance obligations or deadlines are imposed on regulated entities.
91-Day, 182-Day, 364-Day T-Bill Auction Cut-off Results
The Reserve Bank of India announced cut-off prices and implicit yields for the 91-day, 182-day, and 364-day Treasury Bill auction conducted on April 15, 2026. Total face value notified and accepted was ₹12,000 Crore for 91-day T-Bills, and ₹6,000 Crore each for 182-day and 364-day T-Bills. Cut-off yields ranged from 5.2097% (91-day) to 5.5923% (364-day).
RBI Issues Amendment Directions on NBFC Branch Authorisation
The Reserve Bank of India has issued the RBI (Non-Banking Financial Companies – Branch Authorisation) Amendment Directions, 2026, effective April 15, 2026. The amendments modify extant guidelines on branch opening for various categories of NBFCs including Housing Finance Companies. The directions also update relevant provisions in the NBFC Acceptance of Public Deposits Directions, 2025 and Housing Finance Companies Directions, 2025.
Treasury Bills Auction Results: 91/182/364-Day Tenures
RBI conducted Treasury Bills auction for 91-day (₹12,000 crore notified), 182-day (₹6,000 crore), and 364-day (₹6,000 crore) tenures on April 15, 2026. Competitive bids accepted totaled ₹11,979.65 crore (91-day), ₹5,992.91 crore (182-day), and ₹5,926.70 crore (364-day). Cut-off yields ranged from 5.2097% (91-day) to 5.5923% (364-day).
Money Market Operations, April 14, Zero Volume
The Reserve Bank of India published its daily money market operations data for April 14, 2026, showing zero volume of operations. This routine statistical release provides transparency on the central bank's liquidity management activities for the specified date. The report contains tabular data on money market volumes and rates.
Scheduled Banks' Statement of Position, ₹26.2T Deposits, Q4 FY2025-26
The Reserve Bank of India published the Statement of Position for scheduled banks in India as of March 31, 2026 (end of fiscal year 2025-26). The data shows aggregate deposits of ₹26.2 trillion across the Indian banking sector. The release includes a linked PDF with detailed tabular data on bank assets, liabilities, and position metrics.
Money Market Operations Data, April 13, 2026
The Reserve Bank of India published money market operations data as of April 13, 2026. The report contains statistical information on money market transactions, including amounts in ₹ crore and interest rates. No new regulatory requirements, compliance obligations, or policy changes are contained in this data release.
Government Securities Conversion ₹30,000 Crore Auction April 20
The Reserve Bank of India has announced a Government of India securities conversion/switch auction worth ₹30,000 crore (face value) scheduled for April 20, 2026. The auction involves switching 9 source securities maturing between 2026-2030 into destination securities maturing between 2033-2039. Bids must be submitted electronically through the e-Kuber platform between 10:30 AM and 11:30 AM on the auction date.
Producer Price Index Rises 0.5% in March
The ABA Banking Journal reports that the Producer Price Index rose 0.5% in March, according to Bureau of Labor Statistics data. This economic indicator measures changes in the prices received by domestic producers for their goods and services over time. The article provides market context for banking professionals monitoring economic conditions.
OCC Ends CFPB Headquarters Lease Six Years Early
The Office of the Comptroller of the Currency (OCC) has terminated the Consumer Financial Protection Bureau (CFPB) headquarters lease six years ahead of its scheduled expiration. The administrative action affects federal real estate holdings in Washington, D.C. No compliance obligations or regulatory requirements for financial institutions are associated with this real estate transaction.
Homebuilder Confidence Drops Four Points
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index fell four points to 42 in April 2026. This decline reflects continued weakness in the housing market, with current sales conditions, traffic of prospective buyers, and single-family housing starts all contributing to the downward trend.
Beige Book: Economic Activity Mixed Across Fed Districts
The ABA Banking Journal summarizes the Federal Reserve's Beige Book report on current economic conditions across the 12 Federal Reserve Districts. The latest report indicates economic activity was somewhat mixed, with varying conditions reported across different sectors and regions. The Beige Book aggregates qualitative information from Beige Book contacts and other sources to inform monetary policy decisions.
Forty-three Senators Seek $324M for CDFI Fund
Forty-three senators sent a letter to Senate appropriators requesting at least $324 million for the Community Development Financial Institutions Fund in fiscal year 2026. The CDFI Fund, administered by the Treasury Department, provides financial assistance and technical support to community development lenders, banks, credit unions, and venture capital funds serving underserved communities.
ABA Foundation Testifies on Protecting Older Americans from Financial Exploitation
The ABA Foundation provided testimony on protecting older Americans from financial exploitation. The testimony addressed safeguards and recommendations for banks serving senior customers facing fraud risks. This represents an industry association's policy advocacy rather than a binding regulatory requirement.
OFAC Sanctions Iranian Network, Eases Mexican Bank Dissolution
The US Treasury's Office of Foreign Assets Control (OFAC) has sanctioned an Iranian network and eased requirements related to the orderly dissolution of a Mexican bank. These actions affect financial institutions with international operations, requiring review of sanctions compliance programs and correspondent banking relationships. The sanctions designation and regulatory modification represent concurrent developments in Treasury's enforcement approach.
FinCEN Rapid Response Intercepts $2B for Cybercrime Victims
FinCEN's Rapid Response Program (RRP) has intercepted approximately $2 billion in funds linked to cyber-enabled crime. The program coordinates with financial institutions and law enforcement to freeze compromised accounts and recover stolen funds before they leave the financial system. The RRP leverages Bank Secrecy Act reporting infrastructure to enable rapid information sharing and response.
FinCEN RRP Interdicts $268M Since Trump, $1.8B Total for Cyber Fraud Victims
FinCEN announced that its Rapid Response Program (RRP) has facilitated interdiction of over $268 million in stolen funds since President Trump resumed office, bringing the program's total since inception to more than $1.8 billion. The RRP is a partnership between FinCEN, U.S. law enforcement, and foreign partners that works to help cyber-enabled fraud victims recover stolen funds sent abroad. The program has been used in over 96 foreign jurisdictions against business email compromise, investment fraud, and phone scam schemes.
Imposition of Special Measure Prohibiting Certain Transmittals of Funds Involving CIBanco S.A.
FinCEN has imposed a special measure prohibiting certain transmittals of funds involving CIBanco S.A., Institución de Banca Multiple, a Mexican financial institution. The action, designated as a Final Rule, targets suspected money laundering activity and restricts US financial institutions from processing certain fund transfers involving the named entity. Financial institutions must immediately cease transmittals of funds involving CIBanco S.A. unless exempted.
Approves Exemptive Order and Rule Change for Customer Cross-Margining in U.S. Treasury Market
The SEC issued a conditional exemptive order permitting broker-dealers dually registered as futures commission merchants (FCMs) with CFTC to extend cross-margining to customers for U.S. Treasury securities. The order exempts these dually-registered entities from the broker-dealer customer protection rule when making cross-margining available in futures accounts. The SEC also approved FICC's proposed rule change to incorporate a Third Amended and Restated Cross-Margining Agreement with CME into FICC Government Securities Division rules. Prior to this action, only clearing members could cross-margin futures positions in U.S. Treasury securities cleared at CME with cash market positions cleared at FICC.
FinCEN Rapid Response Program Recovers $1.8B for Cyber Fraud Victims
FinCEN published a fact sheet on its Rapid Response Program (RRP), which has facilitated the interdiction of $1.8 billion and recovery of over $1 billion for 5,790 U.S. victims of cyber-enabled fraud since 2015. The RRP partners with law enforcement and foreign financial intelligence units across 96 jurisdictions to recover stolen funds. Since January 20, 2025, the program has interdicted $268.2 million and recovered $157.3 million.