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United States
Anti-Bribery & Corruption
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.
KYC & CDD
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.
Anti-Money Laundering
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.
Emerging Prudential Risks
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.
Anti-Money Laundering
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.
PEPs & Sanctions
OFAC Adds More Belarus Officials to Sanctions List
By Editors | 27/03/2023
The sanctions target Alexander Lukashenko’s presidential aircraft, two major automotive manufacturers, and election officials.
Resolution & Recovery
First Citizens Bank to Takeover SVB Deposits and Loans
By Manesh Samtani | 27/03/2023
The FDIC and First Citizens Bank & Trust Co will share the losses and potential recoveries on commercial loans made by SVB.
PEPs & Sanctions
New US Sanctions Target Myanmar Jet Fuel Supplies
By Editors | 27/03/2023
OFAC published an alert explaining the sanctions risks associated with providing jet fuel to Myanmar’s military regime.
Liquidity Risk
US Lender PacWest Facing Lawsuit Despite Securing Lifeline
By Editors | 27/03/2023
Regional bank PacWest secured $1.4bn in additional liquidity via Atlas SP Partners, an investment firm launched out of Credit Suisse’s securitised-products group.
Fraud, Scams & Cybercrime
US DOJ Arrests and Charges Founder of Hacker Forum
By Editors | 25/03/2023
BreachForums is one of the world’s largest marketplaces for hacked and stolen data and other contraband.
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