Enforcement Actions, International Compliance, and FADF Support

This chapter delves into recent enforcement actions by FinCEN and US bank regulators, underscoring that global financial institutions face penalties for non-compliance, as exemplified by BaFin fining a bank over anti-money laundering program flaws. The significance of due diligence, especially in compliance matters, is stressed alongside updates on FADF ministerial meetings in support of FATF's initiatives concerning corporate transparency and information sharing.