RegWatch - Edition #3
Your weekly briefing on regulation, risk, financial crime, and compliance matters
Regulatory Recap
Banking Giant Committed Violations for 7 Years, Now Faces Punishment
“The region’s crackdown on banks’ money laundering activities marks a significant shift, with regulators intensifying their efforts,” commented Rory Doyle, Head of Financial Crime Policy at Fenergo. Read more
Paxful Co-Founder Pleads Guilty to AML Conspiracy — Faces up to 5 Years in US Prison
A Paxful co-founder has pleaded guilty to conspiracy charges for failing to maintain an effective AML program on the peer-to-peer cryptocurrency platform. This led to various criminal activities being conducted on the platform, according to the U.S. Department of Justice. Read more
Success of U.S. AML 'modernization' proposal depends on responsiveness to feedback, examiner training -experts
FinCEN's proposed rule "represents a pivotal moment for the financial sector, urging institutions to rethink their AML/CFT strategies with a focus on effectiveness, risk management and modernization," said Tracy Moore, director of thought leadership and regulatory affairs at Fenergo. Read more
EBA expands Travel Rule to tackle money laundering
Effective 30 December 2024, the regulation mandates that crypto exchanges operating in the European Union adhere to stringent reporting rules for fund transfers and crypto assets. Read more
Singapore reviewing how local, global banks check wealth flows
Singapore’s regulator is working with banks to hash out consistent standards for lenders accepting funds from clients as the Asian financial center seeks to further boost guardrails against money laundering. Read more
领英推荐
Live Webinar: Regulatory Realities
The Intensifying Scrutiny of Asset Management Firms
Join our half-hour conversation between Bridget Sudall , SEI 's Global Chief Compliance Officer and Global AML Officer, Samrat Jain, MBA, CAMS , 普华永道 's Partner, Financial Crime Unit, and Terry Flynn , Fenergo 's Managing Director, on:
In Case You Missed It...
Empowering the Investor: Leveraging Technology to Enhance Client & Investor Experiences
This report explores the key challenges currently facing the funds management industry, as well as some best practice approaches to streamlining processes with technology. Download the paper to discover how you can leverage technology to provide an exceptional investor experience.
Overcoming Counterparty Onboarding Challenges in Energy & Commodities
Geopolitical events in the last 24 months have led to increased sanctions, increased scrutiny, and increased risk and compliance complexity for energy and commodities firms. To understand how Fenergo enables Energy & Commodity Trading companies, book a demo with the team.?