All posts tagged "Bank Secrecy Act"
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189AML / KYCBitMEX to Pay $100m in Civil Penalties for US Regulatory Breaches
BitMEX unlawfully accepted orders and funds from US customers to trade cryptocurrencies and failed to have in place an AML and user verification programme.
August 12, 2021 -
281AML / KYCUS House Bill Offers Regulatory Framework for Crypto
The bill would give the SEC authority over digital asset securities, the CFTC authority over digital assets, and the Fed authority to issue a digital dollar.
August 3, 2021 -
151AML / KYCFinCEN Publishes First Government-wide AML/CFT Priorities
FinCEN will publish new rules within 6 months reflecting the priorities, which identify the most significant AML/CFT threats currently facing the US.
July 6, 2021 -
288Fintech / Regtech
US House Passes Bill to Foster Innovation in Digital Assets
The bill will require the SEC and CFTC to establish a digital asset working group to ensure collaboration between regulators and the private sector on digital assets.
April 26, 2021 -
385AML / KYC
GFI Offers Recommendations on Advancing FinCEN Reforms
Global Financial Integrity says money laundered from tax evasion and illicit funds entering the US financial system from overseas are estimated at $1tr.
March 6, 2021 -
1.2KAML / KYCAnti-Money Laundering a Priority for Incoming Treasury Secretary Yellen
Incoming Treasury Secretary Janet Yellen thanked Congress for passing the AMLA, widely considered to be the most significant overhaul of AML legislation in the US since 2001.
January 25, 2021 -
1.8KAML / KYC
BitMEX Founders Charged for Evading AML Requirements
Four individuals were charged for "willfully" failing to establish, implement, and maintain an adequate AML programme that included a KYC component.
October 3, 2020 -
933AML / KYC
FinCEN Seeks Comments on Enhancing Bank AML Effectiveness
One of the proposals is to incorporate an “effective and reasonably designed” AML programme component to empower FIs to allocate resources more effectively.
September 21, 2020 -
882AML / KYCIndustrial Bank of Korea to Pay $86m for US Sanctions Violations
The bank failed to capture and prevent USD 1 billion in transactions to Iranian entities, cleared through financial institutions located in New York including its own branch.
April 22, 2020
