Anti-Money Laundering

US, Germany Take Down Illicit Crypto Platform Cryptonator

08/08/2024

Cryptonator facilitated transactions worth USD 1.4 billion, including those linked to sanctioned entities and criminal marketplaces.

AI Risk & Governance

US Lawmakers Introduce Regulatory Sandbox Bill for AI

08/08/2024

The legislation would require the Fed, SEC, OCC, CFPB, FDIC, FHFA, and NCUA to establish regulatory sandboxes for AI experimentation.

Anti-Money Laundering

Taiwan FSC Imposes AML Fine on Crypto Firm Rybit

07/08/2024

Rybit failed to properly conduct customer risk assessments, confirm customer identities, and retain complete records, among other violations.

Anti-Money Laundering

HKMA Expands FINEST Platform to Ten Participating Banks

07/08/2024

HKMA’s Raymond Chan said the proposal to expand FINEST to allow sharing of personal account information received broad support.

Structural Regulation

Tesla Seeks to Launch Insurance Broking Firm in China

07/08/2024

Tesla has registered a new insurance broking firm in China, but will need approval from the NFRA to formally enter the EV insurance market.

Structural Regulation

Chinese State-Owned FIs Instructed to Drop PwC – Report

07/08/2024

BOC, China Life Insurance, and PICC are among more than 30 listed Chinese companies that have dropped PwC as their auditor this year.

Data Privacy

US Regulators to Jointly Adopt Common Data Standards

06/08/2024

The Federal Reserve, SEC, CFTC and six other agencies will adopt common identifiers including the LEI and UPI.

Anti-Bribery & Corruption

Switzerland Announces $152mn Penalty Order Against Glencore

06/08/2024

The penalty order resolves a four-year criminal investigation into Glencore by Swiss and Dutch authorities.

CBDCs

Bank Indonesia Issues Five-Year Payment System Blueprint

06/08/2024

Bank Indonesia Governor Perry Wariyo said the plan to issue digital rupiah has entered the final stages.