Industry News

OFAC fines Payoneer Inc. $1,400,301.40 for Violations of Multiple Sanctions Programs

OFAC (The Office of Foreign Assets Control), The U.S. Treasury Department, announced on July 23rd, 2021, Payoneer Inc. (“Payoneer”), a publicly traded New York-based online money transmitter and provider of...
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FinCEN Issues Anti-Money Laundering/Countering the Financing of Terrorism Priorities

The Financial Crimes Enforcement Network (FinCEN) issued the first government wide priorities for anti-money laundering & countering the financing of terrorism policy. To Access full article: Click here
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The Financial Crimes Enforcement Network 180-Day Update on US AML Act Implementation

On June 30th, 2021, Financial Crimes Enforcement Network (FinCEN) announced the delivery of two (2) key requirements to the US Anti-Money Laundering Act of 2020 (the "AML Act"), which includes...
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FATF identifies jurisdictions with AML/CFT/CFP Strategic Deficiencies

On June 25, 2021, the Financial Action Task Force (FATF), updated its statements concerning jurisdictions under increased monitoring with Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT) and Counter-Proliferation...
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National Westminster Bank Faces Criminal Money Laundering Charges

The Financial Conduct Authority (FCA), United Kingdom regulator filed criminal charges against National Westminster Bank (NatWest) a UK bank for alleged involvement in money laundering offenses. To Access full article: Click here
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Antivirus Software Pioneer John David McAfee Charged by U.S. Department of Justice with Cryptocurrency Fraud

On March 5, 2021, John David McAfee, the antivirus software pioneer and Executive Adviser of his cryptocurrency team, was indicted in Manhattan Federal Court, New York for Fraud and Money...
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John Geddert, Ex-USA Gymnastics coach was found dead after being charged with human trafficking and sex crimes

Thursday February 25, 2021, John Geddert who had coached the 2012 US Olympic women's gymnastics team, was found dead after being charged with 24 felonies in connection with the abuse...
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FinCEN Announces $390,000,000 Enforcement Action Against Capital One, National Association for Violations of the Bank Secrecy Act

January 15, 2021, the Financial Crimes Enforcement Network (FinCEN), announced Capital One, National Association has been assessed a $390,000,000 civil money penalty for engaging in willful and negligent violations of...
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The Office of Foreign Assets Control (OFAC) fines Indonesian Manufacturer $1 million for Violations of the North Korea Sanctions Program Regulations

On January 14, 2021, The U.S. Treasury Department, The Office of Foreign Assets Control (OFAC), announced that an Indonesian company agreed to pay over $1 million to settle potential civil...
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