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

Compliance, Compliance News, Regulatory, Sanctions, US

NEWS: US says MetLife unit reached settlement over Iran sanctions violations

Premium November 15, 2024

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. REUTERS/Kevin Lamarque/File Phot

Premium

INSIGHT: One of the world’s biggest insurance firms has fallen foul of U.S. sanctions – here are the key lessons

IN PHOTOS: Photo’s Leaders in Finance AML-NL Event 2024

 Premium

NEWS: AI portfolio manager charged with money laundering, lied to clients claiming $3.5M fund was worth ‘billions’

By Kanishka Singh

THE U.S. Treasury Department said on Thursday that New York-based insurer MetLife’s unit, American Life Insurance Co, agreed to settle its potential civil liability for over 2,300 apparent violations of sanctions against Iran.

The Treasury’s Office of Foreign Assets Control announced a $178,421 settlement with the MetLife unit.

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

INSIGHT: One of the world’s biggest insurance firms has fallen foul of U.S. sanctions – here are the key lessons

IN PHOTOS: Photo’s Leaders in Finance AML-NL Event 2024

 Premium

NEWS: AI portfolio manager charged with money laundering, lied to clients claiming $3.5M fund was worth ‘billions’

Regulatory Watch News

  • EPPO traces fraudulent Chinese imports to France via Port of Athens

    European Public Prosecutor's Office

    (Luxembourg, 15 November 2024) – On 13 and 14 November 2024, in an investigation led by the European Public Prosecutor’s Office (EPPO) in Paris (France), searches and witness interviews were carried out in Greece, in a probe into fraudulent imports of textiles, garments and fashion items from China into the EU, via the Piraeus Port of Athens, with the French market as the final destination. The fraud scheme under investigation caused an estimated damage of over €5.2 million in unpaid customs duties and VAT.

  • First Cloud Resilience Crisis Management Exercise by APAC Financial Regulators and Cloud Providers

    MAS

    Singapore, 15 November 2024… Asia Pacific financial regulators and global cloud service providers (CSPs) in the Financial Sector Cloud Resilience Forum[1], established by the Monetary Authority of Singapore (MAS), conducted a crisis management tabletop exercise on 6 November 2024. The exercise, which is the first of its kind in the region, simulated a severe public cloud incident disrupting multiple financial sectors across the region.

  • SFC sanctions Zuo Ping for breaches of the Takeovers Code

    Securities and Futures Commission

    The Securities and Futures Commission (SFC) publicly censured and imposed a six-year cold shoulder order (Note 1) against Ms Zuo Ping for breaching the mandatory general offer obligation under the Takeovers Code . Zuo made a number of acquisitions and disposals of shares in CBK Holdings Limited (CBK) on the market between 2 November 2023 and 20 November 2023. As a result of these transactions, her shareholding interest in CBK increased from 0% to 30.22% of CBK’s then issued share capital on 20 November 2023, triggering a mandatory general offer obligation under Rule 26.1 of the Takeovers Code. She did not make any general offer for CBK’s shares at that time.

Sign Up To Our Newsletter

Categories

Archived articles

Contact Us