Category: North America

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Second largest lender in Canada on trial for role in $7.2 billion Stanford Ponzi scheme

Deutsche Bank must pay $130M to end US criminal and civil corruption suits after investigators found bank paid $7M in bribes to win foreign contracts

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US Treasury to up the ante on monitoring China as defence law calls for new study and report on AML risks

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REGULATORY WATCH: $20 million penalty levied against US concrete firm

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French bank lands multi-million dollar fine in United States for ‘reckless disregard’ of Syria sanctions

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Sweeping new AML powers for FinCEN as Defense Act is brought into law in the US

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Canada sets up new AML task forces drawn from police, prosecution, immigration and revenue agencies

White House

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Biden plans to hit back after major US government hack by suspected Russian hackers

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Bahamas removed from FATF ‘grey list’. Assessment complete and seal of approval granted from international financial crime watchdog

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US Treasury office suggests certain banks may be granted exemptions from SAR filing if they meet certain conditions

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New US investigations reported for Danske scandal; prominent banks stress that cooperation with authorities is continuing

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Top FinCrime expert blasts Johnson government for illicit finance failures; warns that new path is needed when Biden takes Presidency

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Treasury Sanctions High-Ranking Members of Foreign Terrorist Organization Cartel del Noreste
OFAC
May 21, 2025
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two high-ranking members of the Mexico-based Cartel del Noreste (CDN), formerly known as Los Zetas. CDN, one of the most violent drug trafficking organizations in Mexico and a U.S.-designated Foreign Terrorist Organization (FTO), exerts significant influence over the border region, especially near the Laredo/Nuevo Laredo point of entry. These sanctions underscore our commitment to target CDN and other violent cartels involved in drug trafficking, human trafficking, arms trafficking, and other heinous crimes that are endangering the American people.
Unicoin, Top Executives Charged in Offering Fraud That Raised More than $100 Million from Thousands of Investors
SEC
May 21, 2025
The Securities and Exchange Commission today charged New York City-based Unicoin, Inc. and three of its top executives—CEO and Board Chairman Alex Konanykhin; Silvina Moschini, former president, former board chairwoman, and current board member; and former Chief Investment Officer Alex Dominguez—for false and misleading statements in an offering of certificates that purportedly conveyed rights to receive crypto assets called Unicoin tokens and an offering of Unicoin, Inc.’s common stock.
OFSI General Licence INT/2022/1834876,Russia Designated Persons – Charities and Interim Managers and trustees extended
OFSI
May 21, 2025
On 21 May 2025, the General Licence INT/2022/1834876 was extended until 23:59 on 30th May 2028.

Any persons intending to use General Licence INT/2022/1834876 should consult the copy of the Licence for full details of the permissions and usage requirements.