United States

Anti-Money Laundering

FATF Upgrades US Rating on Beneficial Ownership Transparency

By Editors | 27/03/2024

The FATF cites the ongoing implementation of requirements for companies to report beneficial ownership information to FinCEN.

Anti-Money Laundering

US Authorities Announce Charges Against Crypto Exchange KuCoin

By Editors | 27/03/2024

Four KuCoin units and two founders were charged by the CFTC and DOJ for serving US clients without registering and for AML-related violations.

PEPs & Sanctions

OFAC Unveils More Sanctions Over Iran Commodity Shipments

By Editors | 26/03/2024

The sanctions target a Lebanon-based financial facilitator, two vessels, and entities registered in Liberia, India, Vietnam, and Kuwait.

Clearing & Post-Trade

ISDA to Commence Work to Update FX Standards

By Manesh Samtani | 26/03/2024

CEO Scott O’Malia said ISDA is also prioritising the development of a new industry notices hub and continuing to engage with US policymakers on the proposed Basel III reforms.

Anti-Money Laundering

Netherlands: Trial Against Tornado Cash Co-founder is Underway

By Editors | 26/03/2024

Alexey Pertsev is accused of participating in Tornado Cash’s money laundering activities. A verdict is expected six weeks after the trial concludes this week.

Capital Adequacy

APAC Banking Sector Well-prepared for Basel III Adoption: Fitch

By Ranamita Chakraborty | 26/03/2024

APAC banking groups are well-prepared due to prevailing conservative regulatory approaches and less extensive use of internal models within the region.

PEPs & Sanctions

OFAC Sanctions Crypto Targets Over Russia Sanctions Evasion

By Editors | 26/03/2024

The sanctioned entities either helped build or operate blockchain-based services or enabled virtual currency payments in the Russian financial sector, enabling potential sanctions evasion.

PEPs & Sanctions

US, UK Announce Sanctions Against China-based Hackers

By Editors | 26/03/2024

A front company allegedly operating for China was sanctioned, along with 2 members of hacking group APT31. DOJ unsealed criminal charges against 7 individuals.

Fraud, Scams & Cybercrime

US PCAOB Penalises Three Partners of KPMG’s Chinese Affiliate

By Mark Johnston | 25/03/2024

The three partners violated PCAOB standards in connection with their audit of the Chinese education company in 2017.