Covered Institutions

The U.S. Treasury Department designated Colombian President Gustavo Petro and several of his family members and associates, alleging his policies have fueled record cocaine production and benefited narco-traffickers.

A former Citibank relationship manager has pleaded guilty and been sentenced to two years in jail for helping a Chinese criminal network launder money in Singapore, the Financial Times reported. 

The U.S. Treasury Department disclosed the existence of roughly $9 billion in 2024 financial activity tied to Iranian “shadow banking,” mapping a web of front companies and intermediaries used to sell sanctioned oil, launder illicit proceeds, and procure banned technology.

The U.S. Office of the Comptroller of the Currency (OCC) has settled its last remaining enforcement action tied to Wells Fargo’s 2016 fake-accounts scandal without imposing a fine, Banking Dive reported.

President Donald Trump has granted a pardon to Changpeng “CZ” Zhao, the founder of Binance, after months of behind-the-scenes efforts by Zhao and his allies to secure clemency.

A new legal filing alleges that a cryptocurrency promoted in January by U.S. First Lady Melania Trump was part of a sophisticated scheme that used celebrity association to lend legitimacy to token launches, according to Wired. 

The United States imposed expansive new sanctions Wednesday on Russia’s two largest oil companies, Lukoil and Rosneft, escalating U.S. economic pressure as negotiations to end the war in Ukraine falter.

Canada’s financial intelligence agency has fined Vancouver-based cryptocurrency exchange Cryptomus nearly C$177 million, saying the firm failed to report thousands of transactions that may have involved sanctions evasion and money laundering tied to fraud, ransomware and child sexual abuse material.

The UK’s Financial Conduct Authority (FCA) has filed a High Court lawsuit against crypto exchange HTX, alleging the platform unlawfully promoted cryptoasset services to consumers in breach of the country’s financial promotions regime, the Financial Times reported. 

Worldline SA said an independent review found “uneven” implementation of anti-financial-crime controls across the company, even as the French payments processor reported a drop in third-quarter revenue and outlined plans to streamline its business.