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U.S. Department of the Treasury OFAC fines CoinList Markets LLC for Apparent Sanction Violation

December 13, 2023ComplianceAidNews

On December 13, 2023, The U.S. Office of Foreign Assets Control (OFAC) announced a $1,207,830 settlement with CoinList Markets LLC. CoinList agreed to settle its potential civil liability arising from processing 989 transactions on behalf of users ordinarily resident in Crimea between April 2020 and May 2022, in apparent violation of OFAC's Russia/Ukraine sanctions. To...

OFAC fines Nasdaq, Inc.

December 8, 2023ComplianceAidNews

December 8, 2023, “The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a settlement with Nasdaq, Inc. Nasdaq agreed to remit $4,040,923 to settle its potential civil liability for a former wholly owned foreign subsidiary’s apparent violations of sanctions on Iran.” To Access full article: Click here

U.S. Treasury announces $4 Billion Fine which is largest settlements in history with world’s largest Virtual Currency Exchange Binance for Violations of U.S. Anti-Money Laundering and Sanctions Laws

November 21, 2023ComplianceAidNews

On November 21, 2023, the United States Department of the Treasury, through the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), and IRS Criminal Investigation (CI), took unprecedented action to hold Binance Holdings Ltd. and its affiliates (collectively, Binance) accountable for violations of the United States Anti-Money Laundering (AML) and Sanctions...

The Office of Foreign Assets Control (OFAC) fines Binance Holdings Ltd. $968,618,825 for Apparent Violation on Multiple Sanctions Programs

November 11, 2023ComplianceAidNews

November 11, 2023, The United States Department of the Treasury Office of Foreign Assets Control (OFAC) announced a $968,618,825 settlement with Binance Holdings, Ltd. (“Binance”), the world’s largest virtual currency exchange. To Access full article: Click here

FATF Advances Efforts to Counter Money Laundering and Terrorist Financing

October 28, 2023ComplianceAidNews

During October 2023, plenary meeting, the Financial Action Task Force (FATF), advanced numerous initiatives to strengthen global anti-money laundering and counter-terrorist financing standards. To Access full article: Click here

The United Kingdom Financial Conduct Authority Announce Findings on Handling Money Mule

October 19, 2023ComplianceAidNews

On October 19, 2023, The UK Financial Conduct Authority (FCA) announce key findings on handling Money Mule Activities. To Access full article: Click here

FinCEN announces $15 Million Civil Money Penalty against Shinhan Bank America for Violations of the Bank Secrecy Act

September 29, 2023ComplianceAidNews

On September 29, 2023, The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) assessed a $15 million civil money penalty against Shinhan Bank America (SHBA) for willful violations of the Bank Secrecy Act (BSA) and its implementing regulations. To Access full article: Click here

Deutsche Bank Subsidiary DWS will pay $25 Million for Anti-Money Laundering Violations and Misstatements Regarding Environmental, Social, and Governance (ESG) Investments

September 25, 2023ComplianceAidNews

The U.S. Securities and Exchange Commission charged registered investment adviser DWS Investment Management Americas Inc. (DIMA or DWS), a subsidiary of Deutsche Bank AG, in two separate enforcement actions, one addressing its failure to develop a mutual fund Anti-Money Laundering (AML) program, and the other concerning misstatements regarding its ESG investment process. To settle the...

The Office of Foreign Assets Control (OFAC) fines Wells Fargo Bank, N.A. (“Wells Fargo”) $30,000,000 for Apparent Violation of Sanctions

March 30, 2023ComplianceAidNews

On March 30, 2023, The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a settlement with Wells Fargo Bank, N.A. (“Wells Fargo of $30,000,000 to settle apparent violations of sanctions against Iran, Syria, and Sudan. To Access full article: Click here

The Office of the Comptroller of the Currency (OCC) Issues Prohibition Order, Fines Former Wells Fargo Executive $17 Million

March 15, 2023ComplianceAidNews

On March 15, 2023, The Office of the Comptroller of the Currency (OCC) announced the issuance of a prohibition order and a $17 million civil money penalty by consent against Carrie Tolstedt, former head of Wells Fargo Bank, N.A.’s Community Bank, for her role in systemic sales practices misconduct. To Access full article: Click here

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