Fintech News
JANUARY 7, 2024
A recent report by blockchain intelligence company TRM Labs reveals a concerning trend of crypto hacks by North Korea, who stole at least US$600 million in cryptocurrency in 2023. Even after Sinbad was sanctioned by OFAC in November 2023, they continued to explore other tools for laundering.
Fintech News
DECEMBER 6, 2023
billion to the Financial Crimes Enforcement Network (FinCEN) and US$968 million to the Office of Foreign Assets Control (OFAC). He took to social media platform X to say that he would be taking a break and potentially venturing into passive investing in areas such as blockchain, Web 3.0, DeFi, AI, and biotech.
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PYMNTS
FEBRUARY 22, 2019
The office recently examined the branches for BSA/AML and Office of Foreign Assets Control (OFAC) sanctions compliance. The consent order doesn’t specifically identify any illegal transactions or OFAC violations, and it doesn’t come with any monetary penalty. MUFG Bank said the OCC recognized improvements the bank made to its U.S.
PYMNTS
JANUARY 1, 2021
In other news, Miami Mayor Francis Suarez, a nonstop social media cheerleader for the notion of building a high-tech ecosystem in South Florida, publicly embraced exploring using cryptocurrency to store some government financial reserves and blockchain to secure processes such as online voting.
PYMNTS
AUGUST 14, 2019
His worry, he said, are the areas where they have expected to see more data reporting and haven’t; as well as indications that casinos have been taking their foot off the gas pedal of late when it comes to their compliance activities.
PYMNTS
MAY 14, 2018
Emerging markets are wary of adopting anything too cutting-edge, so focusing on new technologies like blockchain could jeopardize relationships with the banks in those markets. If a supplier gets an OFAC hit or otherwise breaks the rules, it’s the merchant, not the supplier, that will find itself in media headlines, thus damaging the brand.
PYMNTS
FEBRUARY 28, 2018
That includes anti-money laundering (AML) compliance, know your customer (KYC), fraud mitigation, marketing, privacy, document review, Office of Foreign Assets Control (OFAC) compliance, reporting and more. Being a program manager means handling everything other than card issuing, authorization and transaction processing. A digital U.S.
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