Compliance officers at money transmitters in New York will not be personally liable for adhering to new anti-money laundering rules, following successful lobbying from financial services groups.
U.S. regulators are warning that blockchains could destabilize financial systems amid a surge in banks adopting the technology as part of their cross-border payments facilities.
The Financial Stability Oversight Council's (FSOC) Annual Report 2016 has been published by the U.S. Treasury Department, together with the Office of the Comptroller of the Currency, the Securities...
U.S. officials have said that financial sector regulatory reforms are imminent, in an attempt to correct “long-standing weakness” around beneficial company ownership in the country’s anti-money...
Michael Gershberg, Steven Witzel, Justin Schenck and Joshua Roth from Fried Frank law firm summarize the main provisions of the proposed new AML regulation and key takeaways for financial...
New initiatives by international financial crime authorities may give a glimmer of hope to remittance businesses grappling with the global “de-risking crisis”, representatives of SWIFT and Western...
Anthony Rapa and Jessica Piquet Megaw from Steptoe & Johnson LLP provide some detail on OFAC’s recent fine of Barclays for violating Zimbabwe sanctions.
Majority shareholders of an Andorran bank are seeking to wrest back control of the company after an American watchdog withdrew plans to blacklist it over money laundering accusations.
Bitcoin firms may have lost their last chance to ditch onerous new cybersecurity requirements, with New York regulators seriously exploring plans to expand the new regulations to banks and insurers...
U.S. regulators have pledged to continue targeting banks and payment operators which allow transactions from rogue countries after ordering one of the world’s biggest banks to pay nearly $800m for...
While the U.S. embargo remains in effect and most transactions continue to be barred, rules on transfer of funds and remittances to and from Cuba — currently topping $3bn annually — are being...
FBME Bank Ltd has won a reprieve from a “death sentence” imposed by US enforcers which cut it off from dealing in dollars as it fights a swathe of money laundering and fraud allegations.
A private bank cut off from the US financial system has filed a complaint in a federal court against the enforcement agency responsible, branding its decision a “death sentence”.
U.S. financial intelligence units have issued guidance on how to mitigate risks of processing payments linked to Crimea and avoid violating sanctions placed on Russia.

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