Crypto Service Sanctioned In a Complex and Evolving Risk Landscape
The US Treasury Department has sanctioned a “virtual currency mixer” for failing to prevent money laundering by foreign cybercriminals. The developer behind the project was arrested in Amsterdam two days after the sanction was announced.
Law Firm Fines Quadrupled Over Two Years, Mostly Due to Money-Laundering Compliance Failings
Data from the Solicitors Regulatory Authority (SRA) shows a substantial increase in the number and amount of fines issued to law firms. A look at the data reveals the main cause of the increase: law firms are failing to meet their obligations to detect and prevent money laundering.
The Crackdown on the Illicit-Finances Aiding Oligarchs
The United States Department of Treasury has outlined actions it plans to take to address illicit finance, saying Russia’s invasion of Ukraine had underscored the need to close regulatory loopholes and step up the fight against related financial crime and transnational corruption.
Investors warn European companies over climate accounting
Volkswagen and BP are among 17 of Europe’s largest companies to have been warned by 34 investors over their accounting of climate risks.
Russia readies roubles for bondholders as debt default looms
Russia moved closer to defaulting on international debts this week, prompting a move to hoard roubles to pay international bond holders that need to be repaid in dollars.
Day two at FinCrime Global explores crypto-regulation and the EU’s anti-money laundering tactics
FinCrime Global’s second day delivered more expert insight for financial leaders and senior practitioners working within financial crime.
Europe to toughen up on crypto transfers to close net on financial criminals
The European Union is making moves to shore up security around the transfers of cryptocurrency as part of a programme of measures designed to enhance governance and control in the rapidly evolving crypto sector.
US Departments of Treasury and Justice launch oligarch whistleblower programme
The US Department of Treasury’s Financial Crimes Enforcement Network has created a new whistleblower programme that will pay more than $5 million to any whistleblower with original information that helps them seize assets of Russian elites seeking to evade US sanctions.