United States

PEPs & Sanctions

US, UK Probing $20b in Tether Transfers to Russia’s Garantex – Report

By Editors | 28/03/2024

There is no immediate suggestion of wrongdoing by Tether Holdings, the BVI-incorporated issuer of USDT.

Cybersecurity

US Treasury Publishes Report on AI-Specific Cyber Risks

By Manesh Samtani | 28/03/2024

The report outlines measures including the development of a common AI lexicon and a data lake to help FIs train AI models to detect fraud.

Clearing & Post-Trade

HKMA, SFC Call on Firms to Ensure Readiness for US Move to T+1

By Editors | 28/03/2024

Firms should consider deploying additional staff and or making adjustments to work shifts or working hours to cope.

Structural Regulation

Visa, Mastercard to Settle 2005 Antitrust Case for $30b

By Sanday Chongo Kabange | 28/03/2024

The settlement, which is subject to court approval, will also give merchants more negotiating power and enable more competitive pricing.

Anti-Money Laundering

FATF Upgrades US Rating on Beneficial Ownership Transparency

By Editors | 27/03/2024

The FATF cites the ongoing implementation of requirements for companies to report beneficial ownership information to FinCEN.

Anti-Money Laundering

US Authorities Announce Charges Against Crypto Exchange KuCoin

By Editors | 27/03/2024

Four KuCoin units and two founders were charged by the CFTC and DOJ for serving US clients without registering and for AML-related violations.

PEPs & Sanctions

OFAC Unveils More Sanctions Over Iran Commodity Shipments

By Editors | 26/03/2024

The sanctions target a Lebanon-based financial facilitator, two vessels, and entities registered in Liberia, India, Vietnam, and Kuwait.

Clearing & Post-Trade

ISDA to Commence Work to Update FX Standards

By Manesh Samtani | 26/03/2024

CEO Scott O’Malia said ISDA is also prioritising the development of a new industry notices hub and continuing to engage with US policymakers on the proposed Basel III reforms.

Anti-Money Laundering

Netherlands: Trial Against Tornado Cash Co-founder is Underway

By Editors | 26/03/2024

Alexey Pertsev is accused of participating in Tornado Cash’s money laundering activities. A verdict is expected six weeks after the trial concludes this week.