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FINTRAC fines Xeltox Enterprises CAD $176

October 22, 2025Amishi SharmaNews

On October 22, 2025, The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) announced that it had imposed an administrative monetary penalty on Xeltox Enterprises Ltd. (operating as Cryptomus and previously known as Certa Payments Ltd.). Following a compliance examination, this money services business, incorporated in British Columbia under the name Xeltox Enterprises Ltd.,...

The Office of Foreign Assets Control (OFAC) fines Fracht FWO Inc $1.6 Million

September 9, 2025Amishi SharmaNews

On September 9th, 2025, “The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced that Fracht FWO Inc. (Fracht), a freight forwarder whose principal place of business is in Houston, Texas, has agreed to pay $1,610,775 to settle its potential civil liability for apparent violations of multiple OFAC sanctions programs.” To...

FinCEN Advises on the Use of Convertible Virtual Currency Kiosks for Scam Payments & Other Illicit Activity

August 4, 2025Amishi SharmaNews

On August 4, 2025, “The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Notice urging financial institutions to be vigilant in identifying and reporting suspicious activity involving convertible virtual currency (CVC) kiosks.” To Access full article: Click here

FCA fines Barclays £42 Million

July 16, 2025Amishi SharmaNews

On July 16, 2025, the United Kingdom (UK), Financial Conduct Authority (FCA) fined Barclays Bank UK PLC and Barclays Bank PLC a total of £42 million for separate instances of failings in its financial crime risk management. To Access full article: Click here

The European Union Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) Expects High Standards Against Financial Crime in Cryptocurrency Sector

July 15, 2025Amishi SharmaNews

July 15, 2025, “With the launch of its powers and responsibilities on 1 July 2025, AMLA expects firms engaging in crypto asset activities to have in place strong protections against money laundering and terrorist financing.” To Access full article: Click here

The Office of Foreign Assets Control (OFAC) fines Interactive Brokers LLC $11.8Million for Sanctions Violation

July 15, 2025Amishi SharmaNews

On July 15, 2025, “The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced an $11,832,136 settlement with Interactive Brokers LLC (IB). IB agreed to settle its potential civil liability for apparent violations of several OFAC sanctions programs that arose from IB’s provision of brokerage and investment services to persons in...

OFAC fines Harman Industries $1.4Millon for U.S. Sanctions Violation

July 8, 2025Amishi SharmaNews

On July 8, 2025, “The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a $1,454,145 settlement with Harman International Industries, Inc. Harman agreed to settle its potential civil liability for 11 apparent violations of OFAC sanctions on Iran. Over a period of more than two years, overseas employees of a...

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FINTRAC fines Xeltox Enterprises CAD $176

The Office of Foreign Assets Control (OFAC) fines Fracht FWO Inc $1.6 Million

FinCEN Advises on the Use of Convertible Virtual Currency Kiosks for Scam Payments & Other Illicit Activity

FCA fines Barclays £42 Million

The European Union Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) Expects High Standards Against Financial Crime in Cryptocurrency Sector

The Office of Foreign Assets Control (OFAC) fines Interactive Brokers LLC $11.8Million for Sanctions Violation

OFAC fines Harman Industries $1.4Millon for U.S. Sanctions Violation

FATF Released a Comprehensive Update on Terrorist Financing Risks

FATF Issued a Report on the Complex Proliferation Financing and Sanctions Evasion Schemes

FATF Jurisdictions under Increased Monitoring

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