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PEPs & Sanctions
OFAC Sanctions Chinese Cybersecurity Company and Employee
By Editors | 11/12/2024
OFAC said the employee was responsible for deploying malware to 81,000 firewalls owned by thousands of businesses worldwide in April 2020.
Fraud, Scams & Cybercrime
US Regulator Places Google Payment Corp Under Supervision
By Thisanka Siripala | 11/12/2024
Google Payment Corp says the consumer complaints cited by the CFPB are based on a discontinued service that no longer poses a risk.
Anti-Money Laundering
US Lawmakers Allege Widespread Abuse of BSA for Surveillance
By Thisanka Siripala | 11/12/2024
The lawmakers say the government access to the private financial data of US citizens is “widespread and virtually unchecked”.
Reporting & Disclosures
Goldman Sachs Withdraws from Net-Zero Banking Alliance
By Thisanka Siripala | 11/12/2024
The bank said it will continue to advance its net zero goals and that its priorities remain to help clients achieve their sustainability goals.
Cryptocurrency
FDIC Blocked Banks from Servicing Crypto Firms Throughout 2022
By Thisanka Siripala | 10/12/2024
Coinbase obtained FDIC letters showing that the regulator prevented banks from engaging in crypto-related activities throughout 2022.
PEPs & Sanctions
UK, US Issue Sanctions for Illicit Gold Trading, Human Rights Abuses
By Editors | 10/12/2024
The dozens of sanctions targets include a British-Kenyan businessman who ran a global gold smuggling and money laundering network in Zimbabwe.
Payments & Settlements
Sifma Releases Findings from Regulated Settlement Network PoC
By Editors | 09/12/2024
The findings demonstrated the potential of shared ledger technology to settle tokenised money and securities and address current inefficiencies and operational risks.
Emerging Prudential Risks
Korean Securities Firms Asked to Prepare for Market Shocks
By Manesh Samtani | 08/12/2024
BOK promised “unlimited” liquidity. FSS met with 36 securities firms. FSC activated stabilisation funds. VASP operations impacted.
AI Risk & Governance
CFTC Issues Advisory on Use of AI by Regulated Entities
By Nithya Subramanian | 06/12/2024
The advisory is intended to remind market participants of their regulatory obligations as they begin to develop and implement AI.
Anti-Bribery & Corruption
DOJ Settles With McKinsey Over South Africa Bribery Scheme
By Nithya Subramanian | 06/12/2024
McKinsey will pay $122mn to resolve an investigation into bribes paid to South African officials to secure lucrative consulting contracts.
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