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United States
Crypto / Digital Assets
Russia Using Tether Stablecoin to Circumvent Sanctions – Report
By Editors | 02/04/2024
One China-based smuggler used a Hong Kong distributor, shipments via Central Asia, and Tether for payments to fulfill Russian orders for drone parts.
Enforcement
Trafigura Agrees to Pay $126m to Settle FCPA Violations
By Editors | 01/04/2024
The DOJ says Trafigura bribed Brazilian officials from 2003 and 2014 to illegally obtain and retain business and reap over $61mn in profits.
Sanctions
Russia Blocks UNSC Resolution to Extend Mandate of DPRK Expert Panel
By Editors | 31/03/2024
The Russian veto will force the panel of experts to disband at the end of April, though the UNSC sanctions against North Korea will remain in place.
Crypto / Digital Assets
FTX Founder Sam Bankman-Fried Sentenced to 25 Years
By Editors | 31/03/2024
The judge also ordered the forfeiture of more than $11bn for properties and assets Bankman-Fried bought with customer funds.
Sanctions
US, UK Announce New Sanctions Targeting Hamas Financing
By Editors | 29/03/2024
Two individuals and three entities were sanctioned by the US and UK for engaging in fundraising efforts to support Hamas.
Sanctions
US and South Korea Jointly Announce New DPRK Sanctions
By Editors | 29/03/2024
The US and South Korea also launched a new task force that will work to disrupt North Korean refined oil procurement networks.
Sanctions
US, UK Probing $20b in Tether Transfers to Russia’s Garantex – Report
By Editors | 28/03/2024
There is no immediate suggestion of wrongdoing by Tether Holdings, the BVI-incorporated issuer of USDT.
Fintech / Regtech
US Treasury Publishes Report on AI-Specific Cyber Risks
By Manesh Samtani | 28/03/2024
The report outlines measures including the development of a common AI lexicon and a data lake to help FIs train AI models to detect fraud.
Securities / Derivatives
HKMA, SFC Call on Firms to Ensure Readiness for US Move to T+1
By Editors | 28/03/2024
Firms should consider deploying additional staff and or making adjustments to work shifts or working hours to cope.
Enforcement
Visa, Mastercard to Settle 2005 Antitrust Case for $30b
By Sanday Chongo Kabange | 28/03/2024
The settlement, which is subject to court approval, will also give merchants more negotiating power and enable more competitive pricing.
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