When a U.S. Anti-Bribery Law Is a Statecraft Weapon, Not a Domestic Deterrent
Washington is increasingly turning U.S. anti-corruption enforcement into an instrument of economic statecraft—a shift that threatens to undercut decades of American efforts to fight illicit activity abroad.
UK Oversight of Professional Services Falls Short on Enforcement
The UK’s current system of supervisors overseeing the anti-money-laundering (AML) programs of law firms, accountancies, and other professional bodies is failing to take “sufficiently dissuasive disciplinary measures” against those that fail to meet compliance standards, according to a new report.
Guernsey Mulls Granting More BO Access
Guernsey’s government is weighing new transparency rules that would let approved applicants access information on the beneficial owners of companies registered on the island.
FinCEN Levies Sec. 311 Against Switzerland’s MBaer Bank
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Thursday proposed a Section 311 “special measure” that, if finalized, would cut MBaer Merchant Bank AG off from the American financial system.
TFI’s Hurley to Exit After Objecting to Minneapolis Crackdown
A senior Treasury Department official is preparing to resign after privately raising objections to a White House-backed initiative aimed at alleged fraud tied to the Somali immigrant community in Minnesota.
OCC Proposes First Stablecoin Rules Under the GENIUS Act
The OCC proposed a regulatory framework to implement the GENIUS Act, outlining requirements for stablecoin issuers and for certain stablecoin-related custody activities.
White House May Task Banks with Reporting Client Citizenship Data
The White House may soon call on U.S. banks to collect and report citizenship data on their customers as part of the Trump administration’s crackdown on undocumented immigrants, according to new reporting by The Wall Street Journal.
Fed Plan Would Codify Removal of ‘Reputation Risk’ from Exams
The Federal Reserve on Monday proposed a new rule that would prohibit its examiners penalizing institutions over the “reputation risk” they face from customers—a policy shift that aligns with ongoing litigation brought by President Donald Trump against JPMorgan Chase.
Austria Bars KuCoin from Taking on New Business Amid Compliance Staff Shortages
Austria’s financial regulator has ordered KuCoin’s European arm to stop taking on new business after the crypto exchange lost key compliance staff in the months following the firm getting a green light to operate under the EU’s Markets in Crypto-Assets (MiCA) regime.
Swedbank Faces Fresh Investigation Over AML Controls
Sweden’s Financial Supervisory Authority (FSA) has launched an investigation into whether Swedbank is complying with the country’s anti-money-laundering (AML) rules on customer due diligence.