6th January 2021
Cryptocurrency prices briefly popped late Monday, after a federal banking regulator said in an interpretive letter that U.S. financial institutions are allowed to use stablecoins for payment activities, and can participate as nodes in a blockchain. The letter from the Office of the Comptroller of the Currency is the latest… Read More
6th January 2021
China condemned the former chairman of China Huarong Asset Management Co. to death on charges of malfeasance, one of the most severe sentences to stem from President Xi Jinping’s anti-corruption drive. Lai Xiaomin, who was chairman of Huarong before he came under investigation in 2018, was… Read More
5th January 2021
The U.S. Treasury Department imposed an $8.6 million fine on a French bank that officials said processed payments for blacklisted Syrian financial institutions. Union de Banques Arabes et Françaises SA, a Paris-based bank that facilitates trade finance between Europe and the Middle East, Africa and Asia, agreed to pay the… Read More
5th January 2021
The antiquities trade, which regulators have long feared provided fertile ground for money laundering and other illicit activities, will be subject to greater oversight under legislation passed by Congress on Friday when it overrode President Trump’s veto. The provisions tightening scrutiny of the antiquities market were… Read More
5th January 2021
Suspicious transactions worth P113.1 million related to child pornography were reported in the first half of last year, almost double the P65.8 million booked in 2019 as the government stepped up its campaign against the sexual abuse of children, the Anti-Money Laundering Council (AMLC) revealed. In a public bulletin titled… Read More
5th January 2021
After China’s banking and insurance regulator claimed US financial sanctions have no “legal effect” in Hong Kong or China, analysts have warned that financial institutions might still face penalties if found providing services to sanctioned entities. Washington has unleashed a swathe of sanctions on Chinese and Hong Kong officials and companies… Read More
5th January 2021
A U.S. judge on Monday blocked the Trump administration from sanctioning human rights lawyers for supporting the work of the world’s war crimes tribunal, the International Criminal Court. U.S. District Judge Katherine Polk Failla in Manhattan issued a preliminary injunction against the White House from imposing criminal or civil penalties… Read More
5th January 2021
Pakistan has arrested Zaki-ur-Rehman Lakhvi, a leader of armed group Lashkar-e-Taiba (LeT) – blamed by the United States and India for the 2008 Mumbai attacks, a counterterrorism official said. The arrest is in relation to “terrorism financing”, the official said on Saturday, and not a specific attack. “Proscribed organisation LeT… Read More
5th January 2021
Measures to better counter money laundering and terrorism financing were approved yesterday, under changes to the law that regulates virtual payment service providers. These changes will also strengthen laws governing digital payment tokens (DPTs) to ensure that companies issuing such tokens protect the assets of their users, said Transport Minister… Read More
5th January 2021
AP – Israeli prosecutors on Sunday released an amended indictment spelling out detailed charges against Prime Minister Benjamin Netanyahu in a corruption case in which he is accused of trading favors with a powerful media mogul. Netanyahu has been charged with fraud, breach of trust and accepting bribes in… Read More