Enforcement

AML / KYC

OFAC Sanctions Crypto Mixing Service Tornado Cash

By Manesh Samtani | 09/08/2022

The US Treasury Department says Tornado Cash has been used to launder over USD 7 billion worth of crypto since it was created in 2019.

Enforcement

Taiwan FSC Penalises Eastspring for Violations by Former CIO

By Editors | 09/08/2022

The former chief investment officer used “another person’s account” to trade the same stock that was being traded by Eastspring.

AML / KYC

US Secures Extradition of Former Crypto Exchange Operator

By Editors | 09/08/2022

Alexander Vinnik is alleged to have laundered more than $4bn through a crypto exchange he operated known as BTC-e until it was shut down in 2017.

Crypto / Digital Assets

US Court Allows Voyager Digital to Return Cash to Customers

By Editors | 07/08/2022

Regulators have separately ordered the crypto brokerage to “immediately remove” false statements it made that suggested it was FDIC-insured.

Enforcement

OFAC Investigating Kraken for Alleged Sanctions Violations

By Editors | 07/08/2022

Kraken is suspected of allowing Iranian users to utilise Kraken’s services, in violation of federal sanctions.

Enforcement

ASIC Finalises Guidance on How FSCP Will Work

By Sanday Chongo Kabange | 05/08/2022

FSCP sitting panels will comprise an ASIC staff member as chair and at least two external members from the FSCP’s pool of industry participants.

Enforcement

Korea FSS Fines KakaoBank Over Remittance Service Failures

By Editors | 05/08/2022

The FSS said KakaoBank launched the new remittance service without proper testing, and provided prohibited loans to major shareholders.

Enforcement

More Senior Officials Fall Under Corruption Probes in China

By Darien Choong | 04/08/2022

Officials from the MIIT, CBIRC and PBOC have been named in a fresh round of corruption investigations.

AML / KYC

New York State Regulator Penalises Robinhood Crypto Unit

By Editors | 04/08/2022

Robinhood Crypto had inadequate staffing of its AML programme, transaction monitoring deficiencies, and noncompliant cybersecurity policies.