Tornado Cash OFAC Sanctions As of August 8, 2022, the Office of Foreign Assets Control (OFAC) has concerns that Tornado Cash had been involved in the laundering of over $7…

SOC 2 completion Truth Technologies, a provider of anti-money laundering, anti-fraud, customer identification, and compliance products and services, recently announced the successful completion of their 2023 SOC 2 Type 2…

Evasion of Russia-related export controls  On September 8th, the Financial Crimes Enforcement Network (FinCEN) published a Financial Trend Analysis that analyzes suspected evasion of Russia-related export controls. This analysis is…

Deutsche Bank has had a troubled past regarding anti money laundering compliance.  The Federal Reserve has stated that it fined Deutsche bank $186 million for failing to address money laundering…

According to a recent public statement by the UK Gambling Commission - Betfred, a UK-based bookmaker, has been fined £3.25m by the Gambling Commission for Anti-Money laundering(AML), Know-Your-Customer(KYC), and social…

On June 20th, the Office of Foreign Asset Control (OFAC) announced that Swedbank Latvia AS, a subsidiary of Swedbank AB, has agreed to pay about $3.5 million to settle apparent…

JPMorgan Chase has reached a tentative settlement with the sexual abuse victims of Jeffrey Epstein. One of the lead lawyers for the victims said the bank was ready to pay…

Sanctions from multiple countries have been imposed on Russia as a response to the conflict in Ukraine. These sanctions were imposed as a way of thwarting Russian abilities to continue…

The Groundworks of the Money Laundering Scheme  Russian Oligarchs, Viktor Vekselberg and Vladimir Voronchenko, are accused of running a money laundering operation through their real estate properties in the United…