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Financial Crime
Anti-Money Laundering
US Fed Imposes Conditions on Customers Bank for AML Deficiencies
By Manesh Samtani | 12/08/2024
The Fed cited risk management deficiencies relating to an instant payments platform used to enable crypto firms to make around-the-clock US dollar payments.
PEPs & Sanctions
JPMorgan Requests Dismissal of NY Lawsuit Against Russia’s VTB
By Editors | 12/08/2024
JPMorgan said it is seeking to dismiss the lawsuit “against its will” because it faces uncertain risks if it violates an injunction issued by a Russian court.
PEPs & Sanctions
US Lawmakers Call for Sanctions on Bangladeshi Officials
By Editors | 12/08/2024
Six lawmakers are calling for sanctions on two Bangladeshi officials who were responsible for the use of “disproportionate, unlawful force” to suppress protesters.
Anti-Bribery & Corruption
Australia AGD Will ‘Shortly’ Publish Anti-Foreign Bribery Guidance
By Manesh Samtani | 11/08/2024
The guidance will help firms prepare for reforms that introduce ‘failure to prevent foreign bribery’ a new corporate offence from 8 September.
PEPs & Sanctions
NY Fed Assesses Effectiveness of Tornado Cash Sanctions
By Editors | 11/08/2024
The study found that non-cooperation with the Tornado Cash sanctions was not monetarily driven, but instead motivated by “philosophical reasons”.
PEPs & Sanctions
US, UK, Canada Announce Coordinated Sanctions Against Belarus
By Editors | 11/08/2024
The sanctions mark the four-year anniversary of the 2020 presidential election in Belarus, which was widely regarded as fraudulent.
Anti-Money Laundering
Four Arrested by HK Customs in HK$1.5b Money Laundering Case
By Editors | 10/08/2024
The arrestees allegedly used 39 bank accounts, six shell companies and cryptocurrency to launder crime proceeds from across the APAC region.
Anti-Money Laundering
US Man Arrested for Facilitating DPRK Remote IT Worker Fraud
By Editors | 10/08/2024
DOJ said Matthew Isaac Knoot enabled North Korean IT workers to work for US and UK companies from locations in China, and laundered money for them.
PEPs & Sanctions
Russia, China Working on Regulations to Facilitate Barter Trade – Reports
By Editors | 10/08/2024
New regulatory arrangements being put in place are expected to enable barter deals between Russia and China involving agriculture “as soon as this autumn”.
Fraud, Scams & Cybercrime
UN Committee Approves Global Cybercrime Treaty Despite Opposition
By Manesh Samtani | 10/08/2024
The UN Convention against Cybercrime still needs to be ratified by at least 40 nations at the General Assembly in the fall.
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