Anti Money-Laundering

The popularity of challenger banks in the UK has grown exponentially in recent years, according to the financial services industry. The FCA's recent review found that some challenger banks still have room to improve in terms of anti-money laundering and sanctions compliance.

US Department of the Treasury's FinCEN fine the first violation of Geographic Targeting Order (GTO) on March 31, 2022. Here you can find information about Fincen and Bank Secrecy Act.

The Financial Conduct Authority (FCA) of the United Kingdom has ordered that all Bitcoin cashpoints in the country be closed down.

According to investigators, the New York hipster couple implicated in a billion-dollar bitcoin theft were "serial entrepreneurs" who used businesses to launder money.

On 10 February 2022, legislation was introduced in Parliament to strengthen and broaden the United Kingdom's sanctions framework against Russia.

On January 7, 2022, the European Commission withdrew Ghana from the EU Blacklist by recognizing that country no longer had strategic shortcomings in its AML/CFT regimes.

The Financial Crimes Enforcement Network (FinCEN) and the Federal Deposit Insurance Corporation (FDIC) have united forces in holding a "tech sprint" to assess the effectiveness of digital identity proofing.

Following an investigation by the Solicitors Regulation Authority, Mishcon de Reya has consented to pay a fine of £232,500.

The OFAC identified eight Chinese technology businesses that actively facilitate biometric surveillance and tracking of ethnic and religious minorities in China.