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U.S. Department of the Treasury
Crypto SARs Surge Since May Guidance, FinCEN Boss Says
13th Dec 2019 | Written by:
Six months after U.S. financial regulators issued clarification on reporting requirements for cryptocurrency providers, the industry appears to have received the message loud and clear, with the...
Iran Payments Channel Bolstered By New European Entrants
2nd Dec 2019 | Written by:
Six European countries have announced they are joining the INSTEX payments instrument facilitating trade with Iran, widening the total number of participants to nine.
Authorities Failing To Supervise Remittances, Warn FATF And U.S. Officials
31st Oct 2019 | Written by:
A senior Financial Action Task Force (FATF) official has said there are “persistent global weaknesses” in the supervision of money remittance firms, warning that international banks will remain...
U.S. Official Plays Down De-Risking Fears As Pakistan Faces FATF Blacklist
25th Oct 2019 | Written by:
A U.S. government official has played down the risk of Pakistan’s remittance sector being shut off from the international financial system, as the South Asian country vows to complete reforms...
U.S. Sanctions Enforcers Extend Reach Further Than Ever As UK Bank Fined
24th Sep 2019 | Written by:
A UK bank has agreed to pay a penalty to the United States' sanctions enforcer despite believing it had structured transactions to avoid coming into contact with the U.S. financial system.
Trump Ends Obama-Era Leniency On Cuba Remittances
10th Sep 2019 | Written by:
President Donald Trump’s administration has clamped down on the provision of remittances to Cuba, as well as payments involving the country made through U.S. correspondent banks.
Meeting With Swiss Regulators Fails To Ease U.S. Libra Concerns
27th Aug 2019 | Written by:
U.S. House Financial Services Committee chairperson Maxine Waters has said a meeting with the Swiss officials who will oversee the consortium governing Facebook’s Libra cryptocurrency has failed to...
OFAC Combing Attempts To Skirt Sanctions With Crypto
17th Jul 2019 | Written by:
The U.S. government’s sanctions watchdog is believed to be investigating cases where cryptocurrencies have been used to skirt sanctions controls, with enforcement action tipped to be on the way.
No Libra Launch Until Regulatory Concerns Resolved, U.S. Senate Told
17th Jul 2019 | Written by:
A key architect of Facebook’s digital currency project, Libra, has attempted to reassure lawmakers that Libra will not be launched until regulators are happy user data is protected, the risk of...
Trump Threatens Correspondent Banking Links With New Iran Sanctions
25th Jun 2019 | Written by:
The U.S. threatened to cut off foreign financial institutions from U.S. correspondent banking networks on Monday night as President Donald Trump issued sweeping new sanctions against Iran’s leaders.
Financial Crime Task Force Toughens Requirements For Crypto
24th Jun 2019 | Written by:
The Financial Action Task Force (FATF) has published its finalised guidance on virtual currencies, putting the same standards on crypto exchanges and wallets as currently exist for more traditional...
UN To Issue New Sanctions Guidance As De-Risking Concerns Grow
17th Jun 2019 | Written by:
The UN is working towards issuing further guidance on its sanctions operations to help firms navigate the increasingly complex array of requirements, amid rising concerns the current regime is...
Trans-Atlantic Fintech Partnership May Hit Regulatory Roadblock
12th Jun 2019 | Written by:
The launch of a financial innovation partnership between lawmakers in the UK and US was touted by leaders on both sides as the first step towards more harmonised regulatory regimes for fintechs —...
UK Defiant On Iran Sanctions Workaround In Face Of US Pressure
31st May 2019 | Written by:
The UK government is standing by plans to establish a new payment system circumventing US restrictions on trade with Iran, despite fresh threats of sanctions from across the Atlantic.
Navigating Maritime Sanctions Leaves Banks In Choppy Waters
24th May 2019 | Written by:
Banks and other financial institutions are failing to grapple with the complex task of ensuring business with the commodities shipping sector does not lure them into the rocky shores of non...
Iraqi Payment System Hijacked For Terrorist Funding, U.S. Warns
16th Apr 2019 | Written by:
The U.S. Treasury has brought sanctions against seven individuals and one entity accused of exploiting Iraq’s national payment system, alongside money service businesses and hawala networks, for...
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