FinCEN Proposed Rules Fail International Whistleblowers

If you work with an accountant, lawyer, or real estate agent, you’re about to see some changes in how you onboard. Starting July 2026, Australia's Tranche 2 AML/CTF reforms kick in. To comply with AUSTRAC regulations, professional service providers will require more thorough proof of identity and company structure details from their clients than ever before. Want to know what documents you'll need on hand and how to prevent any transaction delays? Check out our latest article by Thomas Heenan from Accru Felsers for a clear, client-focused guide to navigating the new KYC and identity check requirements. https://lnkd.in/giKGQZdg #AUSTRAC #Compliance #Accounting #Accru #Audit

For anyone engaging a professional services provider after 1 July, there are some new rules coming regarding proving your identity. Great article written by Thomas Heenan from Accru Felsers.

With 1 July fast approaching, agencies have been urged to get their AML/CTF preparations locked in, with warnings that delays could result in significant fines, heavier admin, and a serious risk of non-compliance. #AML #CTF Read the latest ⬇️

Sanctions screening is a critical component of any financial crime compliance framework. Its purpose goes beyond simply checking names against a list—it helps organisations identify potential exposure to sanctioned individuals, entities, and jurisdictions before risks materialise. Effective sanctions screening supports: Regulatory compliance Financial crime prevention Reputational protection Risk-based customer onboarding Ongoing customer monitoring A strong sanctions screening process requires accurate data, timely reviews, and clear escalation procedures when potential matches are identified. In compliance, effective screening is not just a control—it is a key safeguard against financial crime and regulatory breaches. #KYC #AML #SanctionsScreening #CDD #EDD #FinancialCrime #Compliance #RiskManagement #BankingCompliance

Mauritius has made significant progress in strengthening its AML/CFT framework and achieving technical compliance with the FATF Recommendations. But as we move towards the next ESAAMLG/FATF-style mutual evaluation, the real question may no longer be only: Do we have the laws, regulations, policies and institutions in place? The bigger question is: Can we demonstrate effectiveness through statistics, outcomes and practical implementation? Assessors will likely want to see evidence such as: • How many AML/CFT inspections were conducted? • What deficiencies were identified and remediated? • How many STRs led to intelligence, investigations, prosecutions or asset recovery? • How much criminal property was frozen, restrained or confiscated? • How effective is beneficial ownership information in practice? • Are sanctions screening, EDD, PEP controls and ongoing monitoring working in real cases? • Are reporting persons applying a true risk-based approach, or only following a checklist? In my view, the next stage is not only about compliance on paper. It is about proving that the system works in practice, across regulators, law enforcement, FIU, supervisors and reporting persons. Where do you think Mauritius currently stands? Are we ready to demonstrate effectiveness, or do we still need stronger statistics, enforcement outcomes and private-sector implementation before the next evaluation? #mlro #dmlro #complianceofficer #amlcft #mauritius #esaamlg #fatf #policymaker #lawyer #barrister

New Zealanders will soon face fewer unnecessary barriers to proving who they are under a refreshed anti-money laundering Identity #Verification Code of Practice announced by Internal Affairs Minister Brooke van Velden and Associate Justice Minister Nicole McKee. #antimoneylaundering #AML #moneylaundering #dirtymoney #CFT #counterterrorismfinancing #financialcrime #financialcrimes #compliance #complianceofficer #duediligence #terroristfinancing #pep #sanctions #audit #FinancialIntelligenceUnits #FIU #SuspiciousActivityReport #cdd #kyc #regulations #CFP #risk #riskmanagement #investigation #monitoring #zealand #newzealand #nz https://lnkd.in/dr6iSUBq

📄On May 29, Constantine Cannon submitted comments to the recently proposed rulemaking for the FinCEN AML/Sanctions Whistleblower Program, drafted by Constantine Cannon whistleblower partners Marlene Koury and Gordon Schnell. Koury and Schnell “applaud[ed] FinCEN for how it has managed the Whistleblower Program so far,” underscoring how “receptive and responsive” the agency has been and how it has “consistently treated our whistleblower-clients with respect and appreciation for coming forward.” Koury and Schnell carefully reviewed the proposed rules with the aim of identifying any changes or improvements they think would make the FinCEN program as successful as possible. In particular, they “focused on ensuring that whistleblowers are best protected and incentivized in coming forward given the significant risks they face of retaliation and social isolation for doing so.” Learn more about some of the key recommendations they offered in our blog post: https://lnkd.in/es5JGaqa #FinCENAMLSanctionsWhistleblowerProgram #AMLattorney 

The AML/CTF obligations for Tranche 2 entities will help businesses manage risks of criminals disguising illegally obtained funds as legitimate income. Some changes you will notice are: 👉 customer due diligence (CDD) to know who your customers are 👉 reporting requirements for certain transaction types 👉 recordkeeping requirements. For further information on obligations, refer to AUSTRAC guidance 👉 https://lnkd.in/gdmNFFnv #AMLCTF

🚨 Top 5 Red Flags That Can Trigger a Sanctions Alert 🚨 Staying alert to sanctions risks is critical in today’s AML and compliance environment. Here are 5 key warning signs every compliance professional should monitor 👇 🔴 High-Risk Jurisdictions — Transactions linked to sanctioned countries increase compliance risk. 🔴 Shell or Front Companies — Hidden ownership structures may conceal illicit activity. 🔴 Frequent Ownership Changes — Repeated shareholder changes can obscure true UBOs. 🔴 Unusual Transaction Patterns — Complex or structured transactions may indicate evasion tactics. 🔴 Incomplete Documentation — Missing or inconsistent records are major compliance red flags. ⚠️ One red flag may be explainable. Multiple red flags demand deeper investigation. Compliance isn't just about meeting rules — it's about protecting the financial system. 👉 Discover how FPM AML-CHECK can enable your compliance journey. Compliance Made Easy 📲 WhatsApp: 0301-1157150 / 51 📧 Email: haris@fpmamlcheck.com 🌐 Visit: fpmamlcheck.com 👉 Start your free trial today: https://lnkd.in/dQsH42Gz #AML #Compliance #Sanctions #KYC #CDD #FinancialCrime #RiskManagement #TransactionMonitoring #UBO #FPM #AMLCompliance

🚨 Top 5 Red Flags That Can Trigger a Sanctions Alert 🚨 Staying alert to sanctions risks is critical in today’s AML and compliance environment. Here are 5 key warning signs every compliance professional should monitor 👇 🔴 High-Risk Jurisdictions — Transactions linked to sanctioned countries increase compliance risk. 🔴 Shell or Front Companies — Hidden ownership structures may conceal illicit activity. 🔴 Frequent Ownership Changes — Repeated shareholder changes can obscure true UBOs. 🔴 Unusual Transaction Patterns — Complex or structured transactions may indicate evasion tactics. 🔴 Incomplete Documentation — Missing or inconsistent records are major compliance red flags. ⚠️ One red flag may be explainable. Multiple red flags demand deeper investigation. Compliance isn't just about meeting rules — it's about protecting the financial system. 👉 Discover how FPM AML-CHECK can enable your compliance journey. Compliance Made Easy 📲 WhatsApp: 0301-1157150 / 51 📧 Email: haris@fpmamlcheck.com 🌐 Visit: fpmamlcheck.com 👉 Start your free trial today: https://lnkd.in/dQsH42Gz #AML #Compliance #Sanctions #KYC #CDD #FinancialCrime #RiskManagement #TransactionMonitoring #UBO #FPM #AMLCompliance