United States

Operational Risk

US OCC Fines RBC’s US Unit Over Risk Management Deficiencies

By Editors | 03/02/2024

A cease-and-desist order requires the bank to take “broad and comprehensive corrective actions” to improve its strategic planning and internal controls.

Conduct, Culture & Accountability

US Fed Tightens Policy on Personal Investments by Staff

By Editors | 02/02/2024

Under the new policy, staff can be directed to submit brokerage and transaction statements to verify financial disclosure accuracy.

PEPs & Sanctions

Binance Faces Lawsuit from Hamas Victims for Facilitating Terrorism

By Editors | 02/02/2024

The lawsuit, which alleges that Binance enabled Hamas to finance the 7 October attacks, also names Iran and Syria as defendants.

PEPs & Sanctions

US Sanctions Four Israelis for Violence on Palestinians

By Manesh Samtani | 01/02/2024

These are the first sanctions targeting Israeli citizens. FinCEN also issued an alert to help FIs identify activity that finances violence against Palestinians in the West Bank.

PEPs & Sanctions

US Marks 3rd Anniversary of Myanmar Coup With Sanctions

By Editors | 01/02/2024

A holding company and shipping company were targeted for supporting the military regime’s activities against civilians and its arms production.

Anti-Money Laundering

US Court Sentences Lawyer for “OneCoin” Fraud to 20 Years

By Editors | 01/02/2024

Mark Scott, formerly an equity partner at international law firm Locke Lord LLP, laundered $400mn of proceeds from the OneCoin fraud scheme.

Data Privacy

Australia-US Agreement on Electronic Data Access Comes Into Force

By Editors | 01/02/2024

The agreement will better enable US and Australian agencies to prevent, detect, investigate, and prosecute serious crimes.

Cryptocurrency

Crypto Lender Celsius Network Emerges from Bankruptcy

By Editors | 31/01/2024

Celsius, which filed for bankruptcy in July 2022, has commenced distributions of over $3bn of crypto and fiat to creditors.

Fraud, Scams & Cybercrime

NYAG Sues Citi for Failing to Protect Customers from Fraud

By Editors | 31/01/2024

NYAG says Citi does not implement strong anti-fraud defences, misleads account holders about their rights, and illegally refuses to reimburse fraud victims.