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Enforcement
Cum-Ex Scandal Widens like a Regulatory Inquisition
By Peter Guy | 10/05/2022
A common tax arbitrage trading strategy is now being prosecuted as outright tax avoidance, catching global banks and traders in a broad net.
AML / KYC
US Considers Sanctions Against China’s Hikvision: Reports
By Mark Johnston | 10/05/2022
The possible inclusion of Hikvision on the SDN List would have far-reaching consequences because its equipment is used -in more than 180 countries.
AML / KYC
OFAC Sanctions Crypto Mixer, 49 More Wallet Addresses
By Editors | 09/05/2022
Crypto mixer Blender.io was used to process over $20.5mn of the crypto stolen from the Axie Infinity hack in March, OFAC said.
AML / KYC
EU Oil Embargo Opens Possibilities for Further Sanctions – Report
By Editors | 09/05/2022
The US could enforce secondary sanctions against designated Russian entities and individuals, which would threaten anyone transacting with Russia.
AML / KYC
US, UK Include Professional Services in New Russia Sanctions
By Manesh Samtani | 09/05/2022
New OFAC designations; US and UK bans on Russian access to professional services; New trade restrictions, vessel designations
AML / KYC
UK Gov Removes Key Sanctions List Format Without Notice
By Manesh Samtani | 08/05/2022
The XML version of the FCDO sanctions list was removed last week. XML is the key format used by large organisations to automate sanctions compliance.
AML / KYC
US Court Orders BitMEX Co-Founders to Pay $30m in Fines
By Editors | 08/05/2022
The orders follow the CFTC’s $100mn settlement with five BitMEX entities last year over violations of US derivatives and AML regulations.
AML / KYC
Central African Republic Adopts Bitcoin as Legal Tender
By Editors | 06/05/2022
The adoption of Bitcoin as legal tender is expected to make transactions in CAR easier, but the move is seen as part of a power struggle between Russia and France.
Fintech / Regtech
J5 Publishes Red Flag Indicators to Address NFT Risks
By Editors | 05/05/2022
Tax enforcement agencies provide a list of account and transaction attributes from NFT marketplaces that may indicate fraud or other illicit activity.
AML / KYC
NYDFS Issues Guidance Recommending Use of Blockchain Analytics
By Editors | 05/05/2022
The guidance emphasises the importance of blockchain analytics in conducting due diligence, transaction monitoring and sanctions screening.
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