CDD
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Crypto-friendly bank must enhance investigatory standards in AML/OFAC arenas
The Fed ordered the bank to enhance its AML and OFAC compliance regimes, citing “significant deficiencies.”
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HM Treasury launches consultation on effectiveness of Money Laundering Regulations
New proposals aim to reduce ambiguity and lead to a reduction in over-compliance or inconsistent application.
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RBC’s City National Bank fined $65m for gaps in risk management and internal controls
The OCC charged the California-based bank with systemic deficiencies in its risk management and internal controls.
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New EBA guidelines to manage AML risk of crypto-asset service provider activity
EBA guidance amending ML/TF Risk Factors Guidelines to include crypto-asset service providers within its AML framework.
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Unique agreement boosts role of Bank Secrecy Act officers
OCC agreement with Connecticut-based bank offers unequivocal support for BSA officer’s authority.
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Coinbase agrees to $100m settlement
Under the agreement, Coinbase will pay a $50m penalty and invest an additional $50m in its compliance program.