United States

Anti-Bribery & Corruption

US Prosecutors Charge FTX Founder for FCPA Violation

By Editors | 29/03/2023

Sam Bankman-Fried allegedly bribed at least one Chinese official to secure the release of $1bn in frozen assets.

KYC & CDD

FinCEN Issues Guidance on Reporting Beneficial Ownership

By Editors | 29/03/2023

The guidance is intended to help businesses understand new beneficial ownership information reporting requirements that come into effect on 1 January 2024.

Anti-Money Laundering

26 Countries Commit to Transparent Beneficial Ownership

By Manesh Samtani | 29/03/2023

The US-led initiative commits participating countries to implementing the FATF’s revised Recommendation 24 to combat corruption.

Emerging Prudential Risks

Fed, FDIC Probe Adequacy of Oversight at Collapsed Banks

By Manesh Samtani | 29/03/2023

Fed review of SVB will consider supervisory failures. FDIC is investigating misconduct by bank directors, officers, and other parties.

Anti-Money Laundering

CFTC Alleges Binance is Operating in the US Illegally

By Editors | 28/03/2023

The CFTC says Binance’s US activities were subject to registration and regulatory requirements but that key executives deliberately disregarded these requirements.

PEPs & Sanctions

OFAC Adds More Belarus Officials to Sanctions List

By Editors | 27/03/2023

The sanctions target Alexander Lukashenko’s presidential aircraft, two major automotive manufacturers, and election officials.

Resolution & Recovery

First Citizens Bank to Takeover SVB Deposits and Loans

By Manesh Samtani | 27/03/2023

The FDIC and First Citizens Bank & Trust Co will share the losses and potential recoveries on commercial loans made by SVB.

PEPs & Sanctions

New US Sanctions Target Myanmar Jet Fuel Supplies

By Editors | 27/03/2023

OFAC published an alert explaining the sanctions risks associated with providing jet fuel to Myanmar’s military regime.

Liquidity Risk

US Lender PacWest Facing Lawsuit Despite Securing Lifeline

By Editors | 27/03/2023

Regional bank PacWest secured $1.4bn in additional liquidity via Atlas SP Partners, an investment firm launched out of Credit Suisse’s securitised-products group.