AML Compliance

Additional Select Settlement Agreements Index 2009-2025

OFAC published an index of select settlement agreements spanning 2009-2025, listing 20+ enforcement settlements including those with Binance Holdings, Wells Fargo Bank, State Street Bank and Trust, 3M Company, British American Tobacco, Berkshire Hathaway, and Haas Automation for apparent sanctions violations.

14 OFAC Penalties Totaling $265.7M in 2025

OFAC published 2025 year-end enforcement summary documenting 14 civil penalties and settlements totaling $265,725,344 against entities including Exodus Movement, Inc. ($3.1M), Gracetown, Inc. ($7.1M), IPI Partners, LLC ($11.5M), ShapeShift AG ($750K), and Fracht FWO Inc. ($1.6M). The enforcement actions target sanctions violations across cryptocurrency, trading, and logistics sectors.

EBA Decision Harmonises SEPA Reporting for National Authorities

The European Banking Authority published a Decision harmonising how National Competent Authorities report SEPA payment data. NCAs must now report exclusively to the EBA through a single channel, which then shares data with the European Commission. The Decision also amends the EUCLID Decision Annex to incorporate the new requirement and takes effect immediately.

EBA Consults on Major Simplification of EU Supervisory Reporting Framework

The European Banking Authority has opened a public consultation on revised Implementing Technical Standards that would significantly simplify EU supervisory reporting requirements. The proposed changes aim to reduce harmonised reporting data points by approximately 50% while integrating EU-wide stress test and benchmarking data collections into regular reporting. Separate deadlines apply: 10 May 2026 for IFRS 18-related FINREP changes and 10 July 2026 for all other supervisory reporting changes.

AUSTRAC Finds Financial Crime Weaknesses in Foreign Banks

AUSTRAC completed two supervisory campaigns targeting foreign-owned banks in Australia, identifying significant AML weaknesses. The first campaign found that 50 foreign bank branches moved $2.5 trillion in and out of Australia while maintaining extremely low suspicious matter reporting rates. The second campaign identified high money mule risks across six foreign bank subsidiaries. AUSTRAC expects increased SMR reporting and strengthened controls as foreign banks transition to new AML requirements.

Thai Economy Resilient, Transforming Tomorrow

Bank of Thailand Deputy Governor Piti Disyatat delivered a speech at the Japanese Chamber of Commerce discussing Thailand's economic resilience, noting 2025 GDP growth of 2.4% with eight consecutive quarters of approximately 0.8% growth. The speech addressed near-term risks including the Iran conflict's impact on oil prices and the need for structural transformation to ensure inclusive growth beyond headline statistics.

Fed Requests Comment on Extending Small Business Credit Conditions Survey

The Federal Reserve System published a notice requesting public comment on extending the Small Business Credit Conditions Survey (SBCS), part of the SLOOS framework. The comment period closes June 9, 2026. The survey collects data on small business lending conditions and credit access across the US economy.

Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company

The Federal Reserve System published a notice in the Federal Register announcing the receipt of change in bank control notices regarding acquisitions of shares of banks and bank holding companies. The notice provides a 30-day comment period for the public to respond to these acquisition proposals. This is a routine regulatory filing under the Bank Holding Company Act.

Notice of Proposals To Engage In or To Acquire Companies Engaged in Permissible Nonbanking Activities

The Federal Reserve published a notice of proposals by bank holding companies and other entities to engage in or acquire companies engaged in permissible nonbanking activities. The notice announces these proposals for public review as part of the Federal Reserve's supervisory process. No specific proposals, entities, or timelines are detailed in this one-page notice.

Fulda Bancorporation Inc. Application to Acquire Root River State Bank

The Federal Reserve published a notice that Fulda Bancorporation, Inc. of Britton, South Dakota applied to the Board for approval to acquire Root River State Bank, Chatfield, Minnesota pursuant to the Bank Holding Company Act of 1956. The public may submit comments on the application to the Federal Reserve Bank of Minneapolis or the Board of Governors by May 11, 2026.