United States

Crypto / Digital Assets

FTX to Make Full Repayment to Non-Government Creditors

By Manesh Samtani | 09/05/2024

Under the reorganisation plan, up to 98% of non-government creditors will receive about 118% of their claims in cash.

Sanctions

OFAC Removes Sberbank Switzerland from Sanctions List

By Editors | 09/05/2024

Sberbank sold its Swiss subsidiary in September 2022 and the bank was then renamed to TradeXBank Ltd.

Enforcement

US SEC Notifies Robinhood of Pending Enforcement Action

By Editors | 08/05/2024

The action is related to the cryptocurrencies offered on Robinhood’s platform, some of which may be classified by the SEC as securities.

Sanctions

Russia Court Authorises Seizure of JPM, Commerzbank Assets

By Editors | 08/05/2024

The arbitration court authorised the seizure of $13.3mn from Commerzbank (Eurasia) JSC, a subsidiary of JPMorgan and Commerzbank.

Sanctions

FinCEN Issues Advisory to Help FIs Detect Terrorist Financing

By Manesh Samtani | 08/05/2024

The Advisory describes how Iran finances terrorist organisations and provides red flags to aid in detection, prevention, and reporting.

US to Ban Certain Incentive-Based Compensation Arrangements

By Editors | 08/05/2024

The proposed ban will also apply to US branches of foreign banks and certain subsidiaries of US financial institutions.

AML / KYC

US Court Ends Goldman Criminal Case Over 1MDB Work

By Nithya Subramanian | 08/05/2024

Brooklyn federal court dismissed a bribery conspiracy charge against Goldman following the completion of its three-year DPA.

Sanctions

Iran Reliant on Malaysia to Finance Terrorist Proxies: US Official

By Editors | 08/05/2024

US officials express concern about the use of Southeast Asian service providers to route illicit sales of Iranian oil.

AML / KYC

Authorities Charge Russian Leader of Cybercrime Group LockBit

By Manesh Samtani | 08/05/2024

US prosecutors unsealed 26 charges against Dmitry Khoroshev, who is now also sanctioned by the US, UK and Australia.