- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2025-04-11T08:00:00
Block Inc., maker of the popular Cash App, has been hit with a $40 million fine by New York for its alleged failure to report suspicious activity. The move marks the latest in a string of recent state and federal enforcement actions against the company.
Cash App is a peer-to-peer money transfer service people use to send and receive cash and virtual currency, like Bitcoin, to one another. As a money transfer service, Cash App is required to comply with anti-money laundering (AML) regulations and the Bank Secrecy Act (BSA). The BSA/AML rules require banks, financial firms and money transfer businesses to screen customers and their transactions for links to criminal activity, and report any suspicions to authorities.
2025-05-06T22:57:00Z By Adrianne Appel
A Cambodian financial company, the Huione Group, has laundered billions of dollars for international criminals and those linked to North Korea, according to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The agency proposes that the company should be severed from having access to the U.S. financial ...
2025-05-01T21:38:00Z By Adrianne Appel
The New York Department of Financial Services (NYDFS), led by Superintendent Adrienne Harris, doesn’t intend to let up on cryptocurrency enforcement, even in the face of pullback from the federal government.
2025-04-15T16:02:00Z By Adrianne Appel
A small band of Senate Democrats is calling on the Trump administration to reinstate the cryptocurrency investigations unit at the Department of Justice (DOJ).
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
2025-06-19T19:28:00Z By Ruth Prickett
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.
2025-06-16T18:04:00Z By Neil Hodge
Trying to put rules in place to oversee an industry that has grown largely outside of regulation is not without serious challenges. But the UK’s Financial Conduct Authority’s (FCA) latest consultation aims to attract industry views about how some key aspects of crypto trading should be regulated ahead of planned ...
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