On November 5th, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned 4 individuals and 41 entities that it said supported the growing business network of Cambodia-based Prince Group, a transnational criminal organization previously designated for sophisticated cyber-enabled fraud, money laundering and human trafficking activity. The designations are the latest in a series […]
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The cryptocurrency industry has spent years attempting to establish itself as a credible component of the global financial system. As major exchanges have expanded at the international level, a growth of institutional and retail investors have flooded the market, bringing digital assets to the mainstream of the modern economy. However, the historical propensity of the […]
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The recent record-setting financial penalties levied against Bank of America’s over the firm’s multi-year anti-money-laundering failures may represent only the tip of the iceberg with respect to potential regulatory and legal challenges facing the financial services giant. Less than three weeks after the U.S. Treasury Department announced penalties in excess of $1.21 billion against the […]
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