United States

KYC & CDD

US Federal Court Blocks FinCEN’s Beneficial Ownership Reporting Rule

By Nithya Subramanian | 05/12/2024

The ruling blocks enforcement of the Corporate Transparency Act, suspending the obligation for corporate entities to meet the 1 January 2025 filing deadline.

Market Abuse

Barclays Agrees to Settle Class Action Over Securities Over-issuances

By Thisanka Siripala | 05/12/2024

Barclays agreed to pay $19.5mn to settle claims that shareholders lost money because they relied on the bank’s assurances that it had strong internal controls.

PEPs & Sanctions

US, UK Target Major Russian Sanctions Evasion Network

By Editors | 05/12/2024

OFAC sanctioned five individuals and five entities associated with the network. The NCA said 84 arrests have been made and $25mn has been seized.

PEPs & Sanctions

China Responds to US Export Controls With Retaliatory Measures

By Editors | 04/12/2024

Exports of gallium, germanium, antimony and superhard materials to the US are banned. Graphite exports will be subject to stricter controls.

PEPs & Sanctions

OFAC Fines German Firm for Conspiracy to Violate Iran Sanctions

By Editors | 04/12/2024

OFAC said Aiotec GmbH conspired over four years to cause a US company to buy and ship an entire polypropylene plant from Australia to Iran.

Fraud, Scams & Cybercrime

FBI Issues Alert on Use of GenAI for Sophisticated Scams

By Thisanka Siripala | 04/12/2024

The alert includes specific examples of how criminals are exploiting GenAI in fraud schemes to raise public awareness and encourage vigilance

Fraud, Scams & Cybercrime

Former CEO of Celsius Network Pleads Guilty on Fraud Charges

By Editors | 04/12/2024

Alex Mashinsky misled investors about the financial condition of Celsius and used customer funds to manipulate the value of a digital token the company issued.

PEPs & Sanctions

US Sanctions 14 Entities, 21 ‘Shadow Fleet’ Vessels Used by Iran

By Editors | 04/12/2024

The vessels targeted mostly have Panama or Cook Islands flags. The entities targeted are based in China, India, Hong Kong, and six other countries.

PEPs & Sanctions

OFAC Announces Magnitsky Sanctions Targeting Former Uzbekistan Officials

By Editors | 04/12/2024

The three former officials were involved in human trafficking and physical and sexual violence against children at a state-run orphanage.