United States

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    Enforcement

    Former VP of US Bank Pleads Guilty to AML Violations

    By Mark Johnston | 18/01/2024

    Peter McVey helped high-risk customers evade the bank’s AML controls, violating the Bank Secrecy Act.

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    Sanctions

    US Sanctions Prompt China Banks to Review Russia Business

    By Editors | 18/01/2024

    The threat of secondary sanctions has prompted Chinese state-owned banks to review their Russian business and sever ties with clients on the sanctions list.

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    Sanctions

    US Redesignates Yemen’s Houthis as Global Terrorist Group

    By Editors | 18/01/2024

    The designation comes with sanctions that target the group’s sources of financing and restrict its access to financial markets.

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    Enforcement

    US SEC Fines JP Morgan for Impeding Potential Whistleblowers

    By Nithya Subramanian | 17/01/2024

    The firm’s securities unit has been fined USD 18 million for disallowing clients from contacting the SEC.

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    Enforcement

    US House Passes Three Finance Bills to Support Taiwan

    By Mark Johnston | 16/01/2024

    The bills aim to boost Taiwan’s role in the IMF, exclude China from key banking organisations, and push for more […]

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    Enforcement

    US SEC, DOJ Settle Morgan Stanley Block Trading Probe

    By Sanday Chongo Kabange | 15/01/2024

    Morgan Stanley agreed to pay more than USD 249 million to settle fraud charges and for failing to enforce information barriers.

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    AML / KYC

    NYDFS Announces $8m Settlement With Genesis Global Trading

    By Editors | 15/01/2024

    Genesis Global Trading is also required to give up its BitLicense and cease all operations in New York as part of the settlement.

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    AML / KYC

    Crypto Firms Lead Surge in AML Fines: Report

    By Mark Johnston | 15/01/2024

    Fenergo’s annual report reveals a 57 per cent surge in penalties for non-compliance with financial regulations in 2023.

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    Sanctions

    US Sanctions HK, UAE Companies to Target Houthi Revenues

    By Editors | 15/01/2024

    OFAC also identified four vessels as blocked property for their involvement in shipping Iranian commodities on behalf of a Houthi financial facilitator.

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    Sanctions

    Biden Administration Supports Confiscation of Russian Assets – Report

    By Editors | 12/01/2024

    There have been concerns that the seizure of Russian assets could taint the reputation of the US financial system and spark a flight from the dollar.

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