Oversight Agency

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.

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. 

Proposed legislation introduced in the U.S. Senate would increase dollar-thresholds triggering reporting requirements under the Bank Secrecy Act for the first time since 1970 and require periodic adjustments to account for inflation, Republican lawmakers said.  The “Streamlining Transaction Reporting and Ensuring Anti-Money Laundering Improvements for a New Era Act”, or STREAMLINE Act, would raise the […]

An unprecedented U.S. Treasury order cutting three Mexican financial institutions off from the American financial system took effect Monday, after already forcing asset sales, client flight and heightened compliance across Mexico’s banking sector, Bloomberg reported.

A Manhattan federal jury found BNP Paribas liable for enabling genocide in Sudan under the Omar al-Bashir regime, raising speculation it could face a multibillion-dollar settlement, Bloomberg reported.

Canada will launch a new federal financial-crimes agency and change banking laws to clamp down on online fraud and other scams, the country’s Department of Finance announced on Monday. 

The Financial Conduct Authority (FCA) will serve as the sole anti-money laundering (AML) and counterterrorist-financing (CTF) supervisor for the UK’s legal, accountancy and trust and company service provider sectors under a plan announced on Tuesday. 

A federal jury in Manhattan began deliberations Thursday on claims that BNP Paribas helped enable atrocities in Sudan under former ruler Omar al-Bashir in a civil case brought by Sudanese survivors, Le Monde and AFP reported.