Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

Crypto, US

NEWS: US lawmakers urge White House to crackdown on Hamas use of crypto after Israel attack

Premium October 18, 2023

TERROR: Image grab of footage recovered from bodies of Hamas terrorists' bodycam show their infiltration into southern Israel from Gaza on Oct 7, 2023.

Premium

NEWS: Deutsche Bank US subsidiary hit with $4M fine by SEC after late SARs filings

 Premium

NEWS: Canada’s AML watchdog plans scorecard to improve monitoring, sources say

 Premium

NEWS: US consumer watchdog sues big banks over ‘widespread’ fraud on Zelle payment app

By Hannah Lang

A bipartisan group of lawmakers is urging the Biden administration to swiftly crack down on the use of cryptocurrencies by Hamas and its affiliates following the Palestinian militant group’s deadly attack in Israel earlier this month.

In a letter sent on Tuesday to the U.S. Treasury Department and the White House led by Senators Elizabeth Warren, Roger Marshall and Representative Sean Casten, 105 lawmakers expressed “grave concern” that Hamas and an affiliated group called Palestinian Islamic Jihad were using digital assets to fund their operations and evade U.S. sanctions.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!

View subscription optionsIf you have an account, log in
Premium

NEWS: Deutsche Bank US subsidiary hit with $4M fine by SEC after late SARs filings

 Premium

NEWS: Canada’s AML watchdog plans scorecard to improve monitoring, sources say

 Premium

NEWS: US consumer watchdog sues big banks over ‘widespread’ fraud on Zelle payment app

Regulatory Watch News

  • Deutsche Bank Subsidiary to Pay $4 Million for Untimely Filing Certain Suspicious Activity Reports

    SEC

    Washington D.C., Dec. 20, 2024 —
    The Securities and Exchange Commission today charged registered broker-dealer Deutsche Bank Securities Inc., a subsidiary of Deutsche Bank AG, for failing to file certain Suspicious Activity Reports (SARs) in a timely manner. Deutsche Bank Securities has agreed to pay a $4 million civil penalty to settle the SEC’s charges. Broker-dealers are required by the Bank Secrecy Act and regulations promulgated by the U.S Department of the Treasury’s Financial Crimes Enforcement Network to file SARs for transactions they have reason to suspect involve funds derived from illegal activity, lack a business or apparent lawful purpose, or are intended to facilitate criminal activity.

  • Central Bank establishes dedicated Fitness and Probity Unit

    Central Bank of Ireland

    The Central Bank of Ireland has today (Thursday 19 December 2024) announced the establishment of a dedicated Fitness and Probity Unit. The fitness and probity regime is a critical element of financial regulation; protecting the public interest by ensuring that people who work in key positions in a financial firm are competent and capable, honest, ethical and of integrity and financially sound.  Since 2020 the Central Bank of Ireland has approved appointments to more than 11,000 roles under the regime. Speaking today, Governor of the Central Bank of Ireland Gabriel Makhlouf said: “The Enria report, published in July 2024, identified several key areas for improvement in our operation of the fitness and probity regime.  We accepted the findings of the report and have used them as a basis for implementing reforms to enhance the regime’s overall effectiveness. We also committed to implementing the reforms as early as possible and before end 2024.

  • Investigation ‘Cheap Ink’: Three more convicted of €58 million VAT fraud involving office supplies

    European Public Prosecutor's Office

    (Luxembourg, 20 December 2024) – In an investigation led by the European Public Prosecutor’s Office (EPPO) in Venice (Italy), three more suspects have been convicted of participation in a criminal organisation selling toner cartridges and office supplies at cheap prices, by systematically evading VAT. Prior to these convictions, four other suspects had also been found guilty in this investigation, code-named ‘Cheap Ink’, which uncovered a massive VAT carousel fraud, with profits estimated at €58 million.

Sign Up To Our Newsletter

Categories

Archived articles

Contact Us