United States

PEPs & Sanctions

US Agencies Call on Firms to Self-Disclose Sanctions Violations

By Editors | 27/07/2023

Self-reporting of sanctions and export controls violations make companies potentially eligible for “significant mitigation”.

Liquidity Risk

FDIC Directs Banks to Fix Incorrectly Reported Uninsured Deposits

By Mark Johnston | 26/07/2023

The FDIC said some banks are understating uninsured deposits by excluding those backed by collateral, which is “incorrect”.

Anti-Money Laundering

ESMA Withdraws Recognition Decisions for UAE CCPs

By Editors | 26/07/2023

The recognition decisions were withdrawn due to the UAE’s including in the EU’s AML blacklist.

Credit Risk

UBS Penalised $388m Over Credit Suisse’s Archegos Failings

By Editors | 25/07/2023

US, UK, and Swiss regulators took coordinated action to punish the “unsafe and unsound” risk management practices at Credit Suisse.

Fraud, Scams & Cybercrime

Thailand Launches Initiative to Fight Investment Fraud

By Ranamita Chakraborty | 25/07/2023

The Stock Exchange of Thailand along with the Thai capital market sector, business organisations and government agencies will work together to protect investors and the public from scams.

AI Risk & Governance

White House Secures Commitments on Responsible AI Development

By Editors | 24/07/2023

White House secured commitments from Amazon, Anthropic, Google, Inflection, Meta, Microsoft, and OpenAI.

Anti-Money Laundering

Couple Responsible for 2016 Bitfinex Hack Reach Plea Deal

By Manesh Samtani | 24/07/2023

The 119,754 bitcoin stolen was worth $71mn at the time of the hack. When the couple was arrested in Feb 2022, it was worth over $4.5mn.

Anti-Money Laundering

US DOJ Elevates Crypto Enforcement Team Within Criminal Division

By Manesh Samtani | 24/07/2023

NCET will merge into the Computer Crime and Intellectual Property Section, more than doubling the number of prosecutors available to work on crypto-related crime.

Payments & Settlements

US Launches Instant Payments Service, FedNow

By Editors | 21/07/2023

35 early-adopting banks and credit unions are ready with instant payments capabilities via FedNow, and 16 additional service providers are supporting payment processing.