On October 17, 2022, the UK Treasury’s Office of Financial Sanctions Implementation (OFSI) and the US Treasury Department’s Office of Foreign Assets Control (OFAC) issued a joint statement announcing a new strategy to collaborate further on economic sanctions implementation and […]
The Office of the Comptroller of the Currency (OCC) has stated that bank-FinTech partnerships “are here to stay.” Acting Comptroller of the Currency Michael J. Hsu’s announcement follows his warning that such arrangements can present an increased risk for the […]
The Hong Kong Special Administrative Region’s government has announced it will present a policy statement on the city’s digital assets market during Hong Kong’s upcoming FinTech Week. Financial Secretary Paul Chan Mo-po said the statement will cover several key topics, […]
On October 5, 2022, the Australian Transaction Reports and Analysis Centre (AUSTRAC) published guidance aimed at helping reporting entities identify and verify sources of funds and wealth as part of their know-your-customer (KYC) processes. The advice was drafted earlier this […]
On October 10, 2022, the European Parliament Committee on Economic and Monetary Affairs (ECON) endorsed the approved text for the Markets in Crypto-assets regulation (MiCA). While the bill’s main provisions were agreed upon in June, the approved text sets out […]
A former attorney who laundered drug money for the Sinaloa Cartel has been sentenced in San Diego federal court to more than 15 years in prison. The sentencing follows the defendant’s arrest by Mexican authorities while traveling in the state […]
On September 30, 2022, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) published its Sanctions Compliance Guidance for Instant Payment Systems in conjunction with a settlement agreement between the agency and Tango Card, Inc. The guidance […]
The Australian government will formally respond to a report advising banks of their responsibility to provide services to virtual currency trading platforms, FinTechs, and remittance providers. Published in August 2022, the report aims to address de-banking in these industries and […]
On September 30, 2022, President Vladimir Putin announced the attempted illegal annexation of the Ukrainian regions of Donetsk, Luhansk, Kherson, and Zaporizhzhia. In the wake of the announcement, the Council of the EU has announced the adoption of an eighth […]
On September 22, the UK government published the Economic Crime and Corporate Transparency Bill 2022. Following the Economic Crime (Transparency and Enforcement) Act passed earlier this year, the bill is designed to tackle the growing problem of dirty money flowing […]
The Japanese government has announced plans to introduce new rules to mitigate money laundering through crypto. Expected to take effect in May 2023, the regulations will provide Japanese authorities with additional monitoring capabilities to track virtual currency transfers. Japan’s Act […]
According to the Pennsylvania Department of Justice, a Florida resident has pleaded guilty to three counts of conspiracy related to submitting fraudulent health care claims. The defendant faced prosecution in New Jersey, Pennsylvania, and Florida for charges related to Medicare […]
EN
FR