United States

Crypto / Digital Assets

US SEC Forces Shut Down of Crypto Platform Beaxy

By Sanday Chongo Kabange | 30/03/2023

The SEC charged Beaxy and its affiliates for performing the functions of an exchange, broker, clearing agency, and dealer without registration.

AML / KYC

Real Estate Sector Vulnerable to BEC Threats: FinCEN

By Editors | 30/03/2023

FinCEN published a report on the patterns and trends of business email compromise scams targeting the real estate sector.

AML / KYC

Credit Suisse Violated 2014 Plea Deal with US DOJ

By Manesh Samtani | 30/03/2023

UBS could be forced to pay US authorities $1.3bn – the amount Credit Suisse had discounted from its 2014 plea deal.

Enforcement

JPMorgan’s Dimon to Give Sworn Deposition for Epstein Lawsuits

By Editors | 29/03/2023

Last week, a judge ruled that JPMorgan Chase and Deutsche Bank must both face sex trafficking lawsuits related to the late Jeffrey Epstein.

Enforcement

US Prosecutors Charge FTX Founder for FCPA Violation

By Editors | 29/03/2023

Sam Bankman-Fried allegedly bribed at least one Chinese official to secure the release of $1bn in frozen assets.

AML / KYC

FinCEN Issues Guidance on Reporting Beneficial Ownership

By Editors | 29/03/2023

The guidance is intended to help businesses understand new beneficial ownership information reporting requirements that come into effect on 1 January 2024.

AML / KYC

26 Countries Commit to Transparent Beneficial Ownership

By Manesh Samtani | 29/03/2023

The US-led initiative commits participating countries to implementing the FATF’s revised Recommendation 24 to combat corruption.

Capital / Liquidity

Fed, FDIC Probe Adequacy of Oversight at Collapsed Banks

By Manesh Samtani | 29/03/2023

Fed review of SVB will consider supervisory failures. FDIC is investigating misconduct by bank directors, officers, and other parties.

AML / KYC

CFTC Alleges Binance is Operating in the US Illegally

By Editors | 28/03/2023

The CFTC says Binance’s US activities were subject to registration and regulatory requirements but that key executives deliberately disregarded these requirements.