By Aaron Nicodemus2024-07-10T19:30:00
The co-founder and former chief technology officer of crypto peer-to-peer network Paxful faces charges related to violating the anti-money laundering (AML) requirements of the Bank Secrecy Act (BSA).
Artur Schaback, of Estonia, pled guilty to one count of conspiring “to willfully fail to establish, develop, implement, and maintain an effective [AML] program as required by the Bank Secrecy Act,” the Department of Justice announced Monday in a press release.
From 2015-19, Schaback operated Paxful, a virtual currency platform and money transmitting business that allowed its customers to negotiate and trade virtual currency for items including fiat currency, prepaid cards, and gift cards.
2024-08-12T17:28:00Z By Aaron Nicodemus
Manfred Bekeris, chief compliance officer at cypto peer-to-peer network Paxful, sat down with Compliance Week to talk about joining the company shortly before its former chief operating officer and co-founder pled guilty to violating the Bank Secrecy Act.
2023-10-23T19:44:00Z By Aaron Nicodemus
Uncertainty created by the Federal Deposit Insurance Corporation’s lack of clarity on risks posed by crypto assets has left member banks with the impression the agency wants banks to avoid them, according to a new report from the Office of Inspector General.
2023-06-05T19:35:00Z By Jeff Dale
The Securities and Exchange Commission charged Binance Holdings, its U.S.-based affiliate BAM Trading Services, and their founder Changpeng Zhao with a series of securities law violations, including operating unregistered exchanges.
2025-07-30T17:56:00Z By Aly McDevitt
The Department of Labor is using poultry processing company Mar-Jac Poultry as an example of what will happen when companies repeatedly employ underage workers in hazardous conditions. Hint: Companies can’t pin the blame on staffing agencies.
2025-07-29T18:30:00Z By Ian Sherr
Chip design software and hardware maker Cadence Design Systems agreed to plead guilty to unlawfully exporting semiconductor design tools to a restricted Chinese military university, the Department of Justice said in a statement. The California firm will pay over $140 million in criminal and civil pines and forfeitures, marking the ...
2025-07-29T17:34:00Z By Oscar Gonzalez
The Department of Justice fired two officials who were part of its antitrust division on Monday. The move, reported by CBS News, marks the latest effort from the Trump administration to ease regulations for companies and rollback of antitrust enforcement.
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