Regulatory & Compliance

DOJ Settles with Aux Cayes for $500M Over AML Violations and Noncompliance
Regulatory & Compliance DOJ Settles with Aux Cayes for $500M Over AML Violations and Noncompliance

In a significant development in the cryptocurrency world, the Department of Justice (DOJ) has reached a settlement with Aux Cayes FinTech Co. Ltd., an affiliate of the cryptocurrency exchange OKX. The company has faced serious allegations of violating United States anti-money laundering (AML)

House Committee Approves Measures to Combat Tax Refund Check Theft
Regulatory & Compliance House Committee Approves Measures to Combat Tax Refund Check Theft

The rising incidence of IRS tax refund check theft has spurred the House Ways and Means Committee into action, advancing a suite of legislative measures aimed at protecting taxpayers and improving the overall efficiency of the tax system. This bipartisan initiative underscores a collective

Gen Z Most Reluctant to Discuss Financial Fraud in Canada
Regulatory & Compliance Gen Z Most Reluctant to Discuss Financial Fraud in Canada

Kofi Ndaikate is well-versed in the dynamic world of Fintech. His expertise spans various industry areas, from blockchain and cryptocurrency to regulation and policy. In this interview with Jay Thibain, Kofi discusses the pressing issue of financial fraud targeting Gen Z and the general importance

How Will AU10TIX's New AML Solution Revolutionize Risk Management?
Regulatory & Compliance How Will AU10TIX's New AML Solution Revolutionize Risk Management?

The recently announced advanced Anti-Money Laundering (AML) solution by AU10TIX, a prominent global technology company specializing in identity verification and management, is set to redefine risk management strategies in the fight against financial crimes. By integrating cutting-edge technology

CFPB Sues Zelle and Major Banks Over Alleged Consumer Fraud Failures
Regulatory & Compliance CFPB Sues Zelle and Major Banks Over Alleged Consumer Fraud Failures

In a sweeping legal move, the Consumer Financial Protection Bureau (CFPB) has filed a significant lawsuit against the operator of Zelle and three major U.S. banks—Bank of America, JPMorgan Chase, and Wells Fargo. The agency accuses these financial giants of failing to protect their customers from e

Sri Lanka Urgently Implements AML/CFT Reforms to Avoid FATF Grey List
Regulatory & Compliance Sri Lanka Urgently Implements AML/CFT Reforms to Avoid FATF Grey List

Sri Lanka faces a challenging situation as it strives to avoid being placed on the Financial Action Task Force (FATF) grey list, a designation indicating a high risk of money laundering and terrorist financing activities. The urgency of the matter was underscored in a high-stakes meeting involving

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