Block reaches a $40M settlement with NYDFS for “critical gaps” in its anti-money laundering program, including risk-based controls and customer due diligence
- Block, Inc. had AML gaps including failing to have risk-based controls to prevent money laundering and illicit activity …
Sweden's financial regulator fines BNPL startup Klarna $50M for “significant deficiencies” that broke AML regulations from 2021 to 2022, ahead of its US IPO
Richard Milne / Financial Times :
US prosecutors say crypto exchange BitMEX pled guilty to one count of violating the Bank Secrecy Act by not having an adequate AML program from 2015 to 2020
US prosecutors say crypto exchange BitMEX pled guilty to one count of violating the Bank Secrecy Act by not having an adequate AML program from 2015 to 2020
- U.S. agencies are paying attention now, and they are aggressively reviewing those early practices, as we've seen again and again recently.
The US SEC charges the parent company of Silvergate Bank and executives with misleading investors about its AML compliance strength; Silvergate settles for $50M
similar to SBF and his publicity tour post-collapse — went out and made very specific claims about the health of their bank, publicly, and often. The SEC wants repercussions for that. LinkedIn: Mary L...
The SEC sues Binance and CEO Changpeng Zhao, accusing the company of mishandling billions in customer funds, lying to regulators and investors, and more
Can Pence stand with — and apart — from Trump? Tyler Pearson / DL News : Crypto traders lose $320m in Binance-driven plunge, judge allows bankrupt Genesis mediation extension Christian Encila / NewsBT...
The US Treasury's FinCEN unit labels crypto exchange Bitzlato as a “money laundering concern” related to Russian illicit finance; French police seize Bitzlato
wherever they are. https://www.reuters.com/... Jameson Lopp / @lopp : Nobody knows what Bitzlato was because criminal activity is (estimated to be) less than 1% of crypto transaction volume. @fbi : An...
Leaked 2018 doc shows Binance conceived of an elaborate corporate structure designed to intentionally deceive regulators and profit from US crypto investors
Apple et al do the same thing. (Allegations about encouraging US citizens to subvert AML is a different matter of course). In any event, great reporting @DelRayMan https://www.forbes.com/... Kontra / ...