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United States
KYC & CDD
FinCEN Finalises Rule on Use of FinCEN Identifiers in BOI Reporting
By Editors | 08/11/2023
Beneficial owners of numerous reporting companies would be able to use FinCEN identifiers to simplify the reporting process and for data security purposes.
PEPs & Sanctions
New York State Fines Payments Company for Weak Sanctions Controls
By Editors | 07/11/2023
Payoneer settles with New York State for USD 1.2 million for compliance failings after paying OFAC USD 1.4 million in 2021.
PEPs & Sanctions
US Government Tells Banks to Watch for Signs of Export Controls Evasion
By Editors | 07/11/2023
Latest BIS-FinCEN alert introduces a new filing code for suspicious activity reports related to suspected export controls evasion.
PEPs & Sanctions
New OFAC Settlement Highlights Compliance for E-Commerce
By Editors | 07/11/2023
The US Treasury Department said a US-based online rewards company failed to identify transactions involving persons in Crimea, Cuba, Iran, and Syria.
Clearing & Post-Trade
CFTC to Allow Brokers Greater Flexibility to Invest Client Funds
By Editors | 06/11/2023
FCMs and DCOs will be able to invest client funds in foreign sovereign debt and certain short-term US Treasury ETFs.
Emerging Prudential Risks
FSOC Revamps Oversight Framework for Non-Bank Sector
By Editors | 06/11/2023
The changes will make it easier for the FSOC to designate a non-bank as systemically importance, and speed up its ability to respond to risks.
PEPs & Sanctions
US Commerce Department Fines Manufacturer for Aiding Israeli Boycott
By Editors | 05/11/2023
The US-based manufacturer admitted to violating the US Antiboycott Regulations by certifying that shipments to the Middle East did not contain Israeli-origin goods.
PEPs & Sanctions
US Sanctions Russian National for Laundering Funds for Wealthy Clients
By Editors | 05/11/2023
Ekaterina Zhdanova allegedly helped wealthy clients evade sanctions and move money internationally using crypto and other channels.
PEPs & Sanctions
US Congress Proposes New Sanctions on HK Judiciary
By Editors | 05/11/2023
The proposed legislation would direct the US President to consider sanctioning 49 individuals involved in prosecuting National Security Law cases.
Fraud, Scams & Cybercrime
US Jury Convicts FTX’s Sam Bankman-Fried on Fraud Charges
By Editors | 03/11/2023
Bankman-Fried faces up to 110 years in prison when he is sentenced in March. He also faces another trial for alleged foreign bribery and bank fraud conspiracies.
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