10th July 2020
Amazon.com Inc. agreed to settle allegations that it violated multiple U.S. sanctions regulations, the U.S. Treasury Department said Wednesday. The Seattle-based e-commerce giant allegedly provided goods and services to individuals or entities subject to U.S. sanctions, primarily due to deficiencies in the company’s automatic screening processes, according to… Read More
9th July 2020
Tether and other so-called cryptocurrency stablecoins have long flown under the radar of international regulators. That’s about to change. The Financial Action Task Force, with members from about 200 countries who recommend ways to stop money laundering and the financing of terrorism, said in a report Tuesday that stablecoins… Read More
8th July 2020
Hackers with suspected ties to the North Korean regime are intercepting and stealing U.S. shoppers’ credit card details during online payments. Cybercriminals with links to a state-sponsored unit known as “Hidden Cobra” have been breaking into the websites of “large U.S retailers” and planting “skimmers” since at least May 2019,… Read More
7th July 2020
MFSA CEO Joseph Cuschieri says the financial regulator is ready to take on a new role that will bolster its investigative and supervisory powers against the problems of financial crime that risk Malta’s greylisting by Moneyval. There is serious talk about Malta’s possible grey listing from Moneyval. Let’s start with… Read More
7th July 2020
Private-sector institutions that facilitate the flow of money across the global financial system are often best placed to detect when the system is being abused by criminals. But the sheer volume of data banks collect can make screening for financial crime difficult. Mariano Federici, the former head of Argentina’s Financial… Read More
2nd July 2020
The global watchdog against money laundering and terrorist financing is seeking input on how to prevent the spread of weapons of mass destruction as Germany assumes its two-year presidency of the organization. In an announcement following the final plenary meeting under Chinese President Xiangmin Liu, the Financial Action Task… Read More
1st July 2020
Several members of the Senate Banking Committee have reached a bipartisan agreement on anti-money laundering legislation that would introduce new transparency into the ownership of anonymous shell companies. Senate Banking Chairman Mike Crapo (R-Idaho), ranking member Sherrod Brown (D-Ohio), and seven other committee members plan to offer the compromise text… Read More
29th June 2020
The Federal Deposit Insurance Corp. is moving to boost the way it monitors for risks at thousands of U.S. banks, potentially scrapping quarterly reports that have been a fixture of oversight for more than 150 years yet often contain stale data. The FDIC on Monday is expected to kick off… Read More
28th June 2020
For the past year, WikiLeaks founder Julian Assange has sat in a London jail awaiting extradition to the US. This week, the US Justice Department piled on yet more hacking conspiracy allegations against him, all related to his decade-plus at the helm of an organization that exposed reams of… Read More
16th June 2020
Call it the Falciani Principle. A former UBS Group AG employee who’s appealing his conviction for commercial espionage and money laundering skipped his Swiss court appearance on Monday morning, as expected, to avoid likely arrest. The man, only identified as Rene S., was convicted in absentia last year and… Read More