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Joint sanctions violation probe lands Emirati bank with $100M penalty from one US agency, and a simple ‘finding of violation’ from the other

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NEWS: Swiss regulator FINMA warns of rise in crypto ‘stablecoins’ being used for money laundering

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NEWS: Eurojust to create new pan-EU body connecting judges with AML and AFC experts

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NEWS: Big win for Malta’s FIAU as court upholds major fine handed to payments company

By Dan Byrne for AMLi

Two US enforcement agencies have differed greatly in their handling of the country’s latest sanctions-violation case.

Masreqbank PSC, based in Dubai, has been hit with a $100M fine from New York State’s Department of Financial Services (DFS), while at the same time the national Office of Foreign Assets Control (OFAC) has let the bank away with a simple “finding of violations”. No monetary penalty.

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NEWS: Swiss regulator FINMA warns of rise in crypto ‘stablecoins’ being used for money laundering

 Premium

NEWS: Eurojust to create new pan-EU body connecting judges with AML and AFC experts

 Premium

NEWS: Big win for Malta’s FIAU as court upholds major fine handed to payments company

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