United States

AML / KYC

US Authorities Recover Another $85m in 1MDB Case

By Nithya Subramanian | 24/07/2024

The DOJ secured the recovery of a Swiss financial account along with diamond jewellery and artwork worth a combined $85mn.

Sanctions

OFAC Issues New Form for Reporting Russian Sovereign Assets

By Editors | 24/07/2024

The form is part of implementing a law passed in April to enable the confiscation of Russian sovereign assets frozen in the US.

Enforcement

Hong Kong Court Jails Three in Landmark Manipulation Case

By Sanday Chongo Kabange | 23/07/2024

The jail sentences are the heaviest and longest imposed for market manipulation since the SFO came into effect in 2003.

AML / KYC

US House Passes Bill to Combat Crypto-enabled Illicit Finance

By Nithya Subramanian | 23/07/2024

Under the bill, an independent financial technology working group will be established to examine illicit finance in the digital asset ecosystem.

Capital / Liquidity

US Banks Not Managing Operational Risk Well, OCC Finds

By Nithya Subramanian | 23/07/2024

Confidential assessments by the OCC reportedly found that many banks scored poorly on their management of operational risk.

Sanctions

OFAC Issues Guidance on Extended Statute of Limitations

By Editors | 22/07/2024

OFAC plans to extend record-keeping requirements from five to ten years, to match the new statute of limitations period.

AML / KYC

Philippine SEC Launches New Digital Services Platform

By Editors | 22/07/2024

The eSECURE platform will serve as a user’s digital passport to the different online services provided by the SEC.

Sanctions

UK Publishes Briefing on Third Countries Helping Russia

By Manesh Samtani | 22/07/2024

The briefing names Belarus, Iran, North Korea and China as the main countries providing military support to Russia.

Fintech / Regtech

Global IT Outage: ‘Significant Number’ of Affected Devices Back Online

By Manesh Samtani | 22/07/2024

NAB, CBA, SGX, LSE, Amex, Barclays, Macquarie Capital, and TD Bank were among those impacted, along with some Indian and Philippine banks.