Skip to main content
Google Tag Manager
Sign up to emails
Request a trial
New York State Department of Financial Services (NYDFS)
U.S. Crypto Industry Pleads For Purpose-Built Regulation Amid Facebook Pressure
31st Jul 2019 | Written by:
Cryptocurrency firms are urging U.S. authorities to consider a ground-up, purpose-built regulatory framework for the technology, amid fears that hostility towards Facebook’s Libra project could...
Congressional Hearings 'Just The First Step' For Facebook Crypto Project
15th Jul 2019 | Written by:
With Facebook scheduled to appear before U.S. Congress this week to make the case for its cryptocurrency project Libra, the social media giant faces an uphill struggle to convince wary legislators...
New York Police Smash Gift Card Fraud Gang
12th Jul 2019 | Written by:
A New York gang of fraudsters has been indicted for allegedly running a prepaid gift card laundering ring that turned a profit of a million dollars per month.
Self-Reporting 'Helped Mitigate' Western Union Sanctions Penalty
11th Jun 2019 | Written by:
Western Union has agreed to a fine over allegations it violated U.S. sanctions by processing transactions to a recipient entity in the Gambia that was deemed to have ties to terrorism funding.
Judge Gives Boost To Case Against OCC Fintech Charter
7th May 2019 | Written by:
New York’s financial regulator will get its day in court against the Office of the Comptroller of the Currency (OCC) over the federal authority’s plans to introduce a bank charter for fintechs,...
U.S. Sanctions Purge Continues With Second $1bn Fine
16th Apr 2019 | Written by:
Less than one week after fining Standard Chartered $1.1bn over failures in its sanctions and anti-money laundering controls, U.S. authorities have hit another European bank, UniCredit, with an even...
Bittrex New York Woes Showcase Regulator's 'High Bar' On Crypto
15th Apr 2019 | Written by:
Bittrex, one of the world’s largest cryptocurrency exchanges by volume, is crying out for “regulatory clarity” in the United States, the company’s chief strategy officer told a blockchain...
Legal Experts Highlight Secondary Party Risk In U.S. Cannabis Banking
12th Apr 2019 | Written by:
U.S. banks and payments providers eyeing state-legalized cannabis businesses must battle with both a lack of legal clarity at the federal level and difficulties carrying out due diligence on...
Standard Chartered To Pay $1.1bn Over AML, Sanctions Failings
10th Apr 2019 | Written by:
Banking giant Standard Chartered will pay a total of $1.1bn in fines to United States and UK authorities after allegations it failed to properly apply anti-money laundering (AML) and sanctions...
In Depth: Are Authorities Doing Enough To Fight De-Risking?
22nd Jan 2019 | Written by:
Are influential regulators, international standards-setters and financial sector participants doing enough to tackle de-risking? PaymentsCompliance speaks to J. Andrew Spindler, a former New York...
No-Action Plan Could Spur Action In Fintech Sandbox, Former CFPB Official Says
21st Jan 2019 | Written by:
A plan by the U.S. Consumer Federal Protection Bureau (CFPB) to revamp its no-action letter program is the “boldest step yet” by federal regulators to establish a fintech sandbox that firms...
2018 in Focus: Payments in the Americas
21st Dec 2018 | Written by:
The fight against financial crime in the Americas reached an ever-higher pitch in 2018, with new and innovative methods of sanctions evasion sprouting as quickly as enforcement agencies could cut...
US: New York Department of Financial Services Issues Virtual Currency License to Signature Bank for Commercial Banking Transactions
6th Dec 2018 | Written by:
On December 4, 2018, the New York State Department of Financial Services (DFS) announced it had issued Signature Bank with authorization to offer a new digital payment platform, Signet. Prior to...
Société Générale Hit With $1.34bn Fine For U.S. Sanctions Violations
20th Nov 2018 | Written by:
Banking giant Société Générale has been handed the U.S.’ second largest-ever fine for “willful violations” of international sanctions, devising systems to facilitate illicit fund transfers worth...
Crypto Making Headway In New York Despite Attorney General Investigation
13th Nov 2018 | Written by:
Despite New York's attorney general recently taking aim at the sector over allegations of consumer protection failures, virtual currency exchanges remain eager to do business in the state, which...
US: New York Expands Participation in State-Based NMLS Platform to Check Cashers and Virtual Currency Businesses
2nd Oct 2018 | Written by:
On October 1, 2018, the New York State Department of Financial Services (NYDFS) announced further steps towards the modernization of the state's regulation governing the financial services industry...
Meet the team
Sign up to emails
Terms and Conditions
St Clare House, 30 Minories
+44(0)207 921 9980
United States Of America
1725 I Street NW, Suite 300
+1 202 261 3567