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The 2024 regulatory landscape and thoughts on a post-US-election version
The US election campaign is, perhaps predictably, closing amid sound and fury. We step back to take a measured view of America’s prospects.
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Tether faces US inquiry about alleged AML and sanctions violations
But the world’s biggest stablecoin denies the WSJ’s reports that it is being investigated for possible AML and sanctions violations.
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FCA work in review October 1-9, 2024
Our at-a-glance guide to recent FCA activity.
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UK regulator fines Starling Bank £29m for ‘shockingly lax’ screening controls
Mark Taylor of Ibex Compliance identifies the key learning points from the FCA’s action against Starling Bank.
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OCC orders Wells Fargo to overhaul compliance strategies and illicit fund detection
The OCC found the bank’s safeguards against money laundering and sanctions violations were lax and imposed detailed compliance program remedies.
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Why we need a modern approach to geopolitical risk in the financial sector
A more proactive approach to resilience building in a new geopolitical risk paradigm for banks and capital markets is needed.
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State Street Bank settles $7.45m penalty over OFAC sanctions violations
Strong signal from OFAC about the prompt self-reporting it expects when businesses learn of sanctions noncompliance.
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Fentanyl advisory for finserv firms aims to curb illicit supply chain
FinCEN move to track drug trade financial flows comes alongside new sanctions from US Treasury.