Weekly Roundup
Coinbase settles with New York Financial Regulator for $100 million On January 4th, the New York Department of Financial Services (DFS) announced that they had reached a settlement agreement with…
Treasury Announces Who Has Access To Beneficial Ownership Database
Congress’ passing of the U.S. Corporate Transparency Act (CTA) culminated in a groundbreaking amendment to the Bank Secrecy Act (BSA) via the creation of a national beneficial ownership registry. The…
The Shocking Fall of FTX: UPDATE
Over recent weeks, Global RADAR has chronicled the ongoing details of once-renowned crypto trading platform FTX’s fall from grace. Yet another twist was added to this whirlwind case last week…
Weekly Roundup in AML/CFT
U.S. Makes Unprecedented Person-for-Person Swap with Russia In a story that has dominated international headlines over the last week, WNBA star Brittney Griner, who had been serving a 10-month…
FinCEN Keeps Foot on Beneficial Ownership Gas with GTO Extension
The Financial Crimes Enforcement Network (FinCEN) announced this week that there will be a renewal and expansion of its Geographic Targeting Orders (GTOs) as we approach 2023. It seems like…
Enforcement Actions Hit European Banks, Manufacturers Highlighting Ongoing Battle for AML/CFT Reform
Reports of novel anti-money laundering (AML) and counter-terrorism financing (CFT) regulations coming to the United States, in addition to other measures expected to be announced across Europe, over the next…
New National Security Strategy Pits U.S. Against China, Russia Over “Decisive Decade”
Long two of the world’s most recognizable global powers, the United States and China share arguably the most important and complex bilateral relationship with respect to the health of the…
With Beneficial Ownership Rule In Tow, Questions Remain For U.S. Banks
In January of 2021, Congress passed the U.S. Corporate Transparency Act (CTA), a breakthrough measure aimed at improving integrity across the financial sector, while also allowing national security and counter-intelligence…
Trending: SEC, CFTC Crack Down on Wall Street’s Big Banks
Several major Wall Street firms were forced to pay the price to the collective tune of $1.8 billion this past week over “longstanding record-keeping shortcomings” uncovered as part of a…
With Fraud Figures Rising, FI’s Must Invest to Progress
In spite of a far greater number of financial institutions, government agencies and even entire jurisdictions being placed on notice regarding the perils of financial crime, gross domestic and international…