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I read with interest, as I am sure many US Governed Financial Institutions do, the suggested bill introduced to the US house ‘HR3317 – to deter Money Laundering and Terrorism Financing’.
Clearly, the Bill, which was only introduced in October 2013 by Maxine Waters, and is of course not yet law, seeks to further tighten up penalties for offences.
To underline the seriousness in which these failures are held provisions include:
Clearly, what is important to note in each aspect is the subtle change in intent, sending a very clear signal to those who are in control of such business processes, across the globe that they mean business..
Whilst I have heard it recently said by some legal practices and indeed practitioners that ‘stripping’ cases and large sanctions fine have ‘slowed’ more recently, there seems to be no ‘drought’ on the horizon re geo-political positioning of new rules and regulation.
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Alexander Boehm Chief Executive Officer at PayRate42
05 September
Alexander Saleh Head of Partnerships at Coincover
02 September
Alex Kreger Founder & CEO at UXDA
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