How exactly will DORA affect the financial sector and its professionals? How will it shape the market and impact its actors? And more importantly, what can you do to prepare for such a demanding change?
Image Source:Imgur - 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.
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 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.