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United States
AI Risk & Governance
US Regulator to Crack Down on ‘Time-wasting’ Chatbots Used by FIs
By Editors | 17/08/2024
The CFPB will issue rules or guidance to regulate the use of “ineffective and time-wasting chatbots” by FIs in lieu of customer service.
PEPs & Sanctions
US Man Arrested Over Attempts to Export Aircraft Components to Iran
By Editors | 17/08/2024
Jeffrey Chance Nader falsely identified himself to suppliers as the end user of the components, which he attempted to export to the UAE for transshipment to Iran.
PEPs & Sanctions
OFAC Unveils Fresh Sanctions Against Iranian Shipping Network
By Editors | 16/08/2024
The sanctions target companies based in the Marshall Islands, the UAE, Malaysia and Hong Kong, along with several vessels, for helping to generate revenue for the Houthis.
Trading & Investment
Shenzhen, Dubai Sign MOU on Capital Markets Cooperation
By Editors | 16/08/2024
Under the MOU, SZSE and DFM will explore the potential for future dual listings and ETF connectivity between the two markets.
Cryptocurrency
US IRS Publishes Updated Tax Reporting Form for Crypto
By Editors | 15/08/2024
The updated Form 1099-DA, which will start to apply in early 2026, is more streamlined than the version proposed in April.
Supervision & Enforcement
US Treasury Offers Additional Transparency on CFIUS Enforcements
By Editors | 15/08/2024
More information is now available about CFIUS enforcement actions imposed since 2022, the largest being a $60m penalty against T-Mobile.
Cybersecurity
NIST Finalises First Three Post-Quantum Encryption Standards
By Manesh Samtani | 15/08/2024
Each standard contains the computer code and instructions for encryption algorithms that can withstand attacks from a quantum computer.
Fraud, Scams & Cybercrime
Global Cybercrime Leader Extradited to Face Charges in the US
By Manesh Samtani | 15/08/2024
Maksim Silnikau was responsible for developing and distributing the Reveton and Ransom Cartel ransomware strains, as well as the Angler Exploit Kit.
Supervision & Enforcement
US SEC, CFTC Announce $470m in New Fines in WhatsApp Probe
By Manesh Samtani | 15/08/2024
Since 2021, the SEC and CFTC have issued more than $3.3bn in penalties for record-keeping failures involving messaging platforms.
Stablecoins
Three Arrows Capital Sues Terraform Labs for Crypto Losses
By Editors | 14/08/2024
Liquidators for the failed crypto hedge fund say TerraForm Labs induced Three Arrows to purchase TerraUSD and Luna through market manipulation.
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