United States

Sanctions

OFAC Sanctions More Entities, Vessels Linked to Houthi Financing

By Editors | 20/10/2024

The sanctions target vessels that illicitly transport Iranian oil and companies and captains that managed and operated the vessels, including two Indian nationals.

Enforcement

DOJ Secures $950m Settlement to Settle Bribery, Fraud Charges

By Editors | 19/10/2024

RTX Corporation, the defence contractor formerly known as Raytheon, defrauded the US government through its billings and paid bribes to secure contracts in Qatar.

Fintech / Regtech

NYDFS Issues Guidance on Combatting AI-Related Cyber Risks

By Nithya Subramanian | 18/10/2024

The guidance highlights four key threats arising out of AI and offers recommendations on security controls and mitigation measures.

Enforcement

OFAC Fines Beverage Company for Violating DPRK Sanctions

By Editors | 18/10/2024

Vietnam Beverage Company Limited subsidiaries sold beer and spirits to North Korea, with the payments processed through US correspondent banks.

Crypto / Digital Assets

US SEC Charges Cumberland DRW for Illegal Crypto Operations

By Nithya Subramanian | 18/10/2024

The SEC complaint alleges that Cumberland DRW bought and sold over $2bn in crypto assets without registering as a securities dealer.

Sanctions

OFAC Sanctions Hezbollah Finance Network and Drug Traffickers

By Editors | 17/10/2024

Three individuals linked to Hezbollah’s finance team were sanctioned, along with three others involved in captagon production and trafficking.

Enforcement

CFTC Fines Singapore’s Olam Group for Late Reporting of Cotton Sales

By Nithya Subramanian | 30/09/2024

The CFTC said Olam’s failure to promptly report the sales resulted in the publication of inaccurate and misleading information by the USDA.

Market Infrastructure

NY Fed Launches New Panel to Bolster Resiliency of Benchmarks

By Editors | 30/09/2024

The so-called “Reference Rate Use Committee” will work to foster industry engagement on issues related to the use of interest rate benchmarks in the post-LIBOR world.

Sanctions

US Sanctions Iranian Cyber Actors for Election Interference

By Editors | 30/09/2024

OFAC sanctioned seven individuals while the DOJ unsealed criminal charges accusing three others of hacking Donald Trump’s presidential campaign.