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U.S. Department of the Treasury
Officials Laud The Long Arm Of U.S. Sanctions
22nd Aug 2018 | Written by:
U.S. authorities have taken credit for initiating Latvia’s overhaul of its approach to financial crime, claiming the success of the American sanctions regime against Russia.
U.S. Treasury Praised For Hands-Off Approach To Open Banking
7th Aug 2018 | Written by:
With the U.S. Treasury throwing its weight behind the development of open banking, industry figures have pressed authorities to allow for organic market growth rather than force innovation by...
Full Steam Ahead For U.S. Open Banking As Regulators Push Fintech Overhaul
1st Aug 2018 | Written by:
The regulatory evolution of fintech in the U.S. got a push forward yesterday as the Treasury declared the need for deeper engagement with open banking and the Office of the Comptroller of the...
Firms Under Pressure As U.S. Extends North Korea Sanctions
10th Nov 2017 | Written by:
Freshly expanded sanctions against North Korea look set to drive de-risking by banks, as foreign entities now run the risk of losing access to the entire U.S. financial market.
U.S. Arbitration Rule Struck Down By Senate
26th Oct 2017 | Written by:
The U.S. Senate has voted to repeal the Consumer Financial Protection Bureau’s controversial arbitration rule, ending months of legal and legislative wrangling on both sides.
Authorities Still Struggling To Understand Regtech, Industry Claims
19th Oct 2017 | Written by:
Financial authorities have been urged to improve their understanding of compliance-focused technology, or regtech, to dissolve entry barriers for innovative firms.
G7 Finance Ministers and Central Bank Governors Release Cybersecurity Report
16th Oct 2017 | Written by:
On October 13, 2017, a report on the fundamental elements for effective assessment of cybersecurity in the financial sector was published after the meeting of the G7 ministers of finance and...
U.S. Payments Firms Taking No Chances Over Political Tension
25th Aug 2017 | Written by:
Reputational risk could pose a regulatory threat to payment providers, legal experts have warned, after multiple firms took steps to disassociate themselves from political tensions in the U.S.
Weekly News In Brief: May 26, 2017
26th May 2017 | Written by:
UK regulator says GDPR is a "boardroom-level" issue; Germany issues video KYC reforms; the United States and Saudi Arabia sign an "historic" agreement to combat terrorism financing; Estonia's e...
U.S. Blacklists Money Businesses In First ISIL Sanction
15th Dec 2016 | Written by:
The U.S. Treasury has blacklisted two money service businesses and a financier for helping Islamic State move money in the first case such sanctions have been used against the global terror group.
U.S. Says Improved AML Regimes Will Counter De-Risking
16th Nov 2016 | Written by:
Countries grappling with the withdrawal of correspondent banking relationships must work to improve their anti-money laundering and counter-terrorist financing regimes, a U.S. Treasury boss has...
FCA Tells Firms To Check PacNet Links
10th Oct 2016 | Written by:
UK financial firms have been advised to check whether their payments operations have been interrupted by the blacklisting of a Canadian payments processor, as the reverberations of the 20-year...
Payments Processor Blacklisted After 20-Year Fraud Scandal
23rd Sep 2016 | Written by:
U.S. regulators have blacklisted and launched criminal action against a Canadian payments processor accused of laundering millions of dollars from around the world for conmen for more than 20 years.
AML Enforcement ‘Not Zero Tolerance’, Insist U.S. Regulators
6th Sep 2016 | Written by:
U.S. regulators are trying to assuage banks’ concerns over anti-money laundering enforcement, following complaints that global financial institutions are continuing to cut ties with foreign partners.
U.S. Regulators Warn Card Industry With $35m Rebuke
30th Aug 2016 | Written by:
U.S. regulators' $35m (£27m) enforcement action against a credit card issuer in Nebraska is being cited as evidence of tough policing of the sector, with authorities even targeting third-party...
U.S. ‘De-Risking’ Bill Suggests Regulator-Backed Remittance Pilot
21st Jul 2016 | Written by:
A U.S. bill seeking to break the stalemate between regulators, banks and remitters has passed its first legal hurdle, giving hope that a pilot program for transfers to Somalia could be established.
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