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OFAC fines equity manager $11.5m over ties to sanctioned Russian oligarch
IPI was penalized for managing $50m for a Russian citizen for four years after he was sanctioned.
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OFAC case shows result of willful disregard, and need for risk-based due diligence
The charged individual continued to deal in the property even after receiving word of its blocked status.
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US Treasury designates Cambodia’s Prince Group a transnational criminal organization
The DOJ’s parallel forfeiture action is the largest ever involving crypto fraud, while FinCEN targeted a sophisticated scam support network.
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A7A5 Russian stablecoin continues to evade sanctions
Despite action taken in August, $6 billion worth of the token is known to have been moved since then.
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Crypto wrap: Tether fundraises and EU CBDC is delayed
Also in the news are OFAC Iran sanctions and a sanctions fine against ShapeShift.
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Houston freight firm settles OFAC allegations of sanctions program violations
The enforcement highlights what a good sanctions compliance program should look like, and shows the benefits of cooperation and remediation.
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New York settles with Paxos for $48m over BUSD compliance deficiencies
The blockchain technology company was accused of AML/KYC control failures, and insufficient oversight of its relationship with Binance.
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Senate Banking Committee releases crypto market structure discussion draft
Check out the latest moves in the government’s strategy to merge digital assets and blockchain into the American financial system.