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United States
KYC & CDD
Court Reinstates FinCEN’s Beneficial Ownership Reporting Rule
By Manesh Samtani | 25/12/2024
The Court lifted an injunction that reinstates a 1 January 2025 reporting deadline. FinCEN has extended the deadline to 13 January 2025.
Anti-Money Laundering
US SEC Fines Deutsche Bank Securities for Late SAR Filings
By Editors | 24/12/2024
The SEC said the firm took months or years to conduct or complete investigations prompted by law enforcement or regulatory requests.
PEPs & Sanctions
Calls Grow for Sanctions Against Syria to be Lifted
By Editors | 24/12/2024
The UN special envoy to Syria, as well as Turkiye and Qatar, have called for international sanctions on Syria to be quickly lifted.
Fraud, Scams & Cybercrime
US Regulator Files Lawsuit Targeting Zelle and Three Major Banks
By Editors | 24/12/2024
The CFPB says JPMorgan, BofA and Wells Fargo failed to implement anti-fraud safeguards on Zelle, resulting in $870mn in losses to customers over 7 years.
PEPs & Sanctions
US Sanctions Four Entities for Supporting Pakistan Missile Programme
By Editors | 23/12/2024
The entities worked to supply equipment and missile‐applicable items to Pakistan’s ballistic missile programme
PEPs & Sanctions
US Imposes More Sanctions Targeting Iran’s Oil Trade & Yemen’s Houthis
By Editors | 22/12/2024
The sanctions targets include companies based in Hong Kong, Malaysia and India. Five cryptocurrency wallets were also added to the SDN list.
PEPs & Sanctions
US, UK Impose Human Rights Sanctions Against Georgian Officials
By Editors | 21/12/2024
The sanctions were imposed over a violent crackdown by Georgia’s government against protestors, opposition figures and members of the media
Stablecoins
US SEC Fines Unit of Jump Trading Over TerraUSD Collapse
By Editors | 21/12/2024
The SEC said Tai Mo Shan Limited deceived the market about TerraUSD’s stability while purchasing the stablecoin to restore its peg.
PEPs & Sanctions
OFAC Announces Two New Settlements for Sanctions Violations
By Editors | 20/12/2024
An individual US person violated Magnitsky sanctions and a US manufacturer of musical instruments violated Iran sanctions.
AI Risk & Governance
US Treasury Reports on Findings from Artificial Intelligence RFI
By Manesh Samtani | 20/12/2024
The report outlines key recommendations based on the responses to the RFI and next steps to be considered by policymakers and FIs.
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