The New York State Department of Financial Services (NYDFS) fined the crypto trading unit of Robinhood (HOOD) $30 million for alleged violations of anti-money laundering and cybersecurity regulations. The Wall Street Journal first reported on the fine on Tuesday. “As its business grew, Robinhood Crypto failed ...Read More

No senior banker went to jail over 2008; no HSBC banker was charged, let alone went to jail, when the bank admitted in 2012 to enabling the laundering of billions of dollars of drugs money for El Chapo and his Mexican Sinaloa cartel. The reason, as I ...Read More

A former compliance officer for Interactive Brokers LLC agreed to pay a $25,000 fine to settle allegations he failed to properly oversee the broker-dealer’s anti-money-laundering program. Arnold J. Feist in a letter on Friday consented to a finding by Wall Street’s broker-dealer inspector that ...Read More

Compliance professionals should focus on the anti-money laundering (AML) program risks highlighted by the emerging Pandora Papers scandal rather than on individual revelations, experts said. Their comments came in response to ongoing investigative news reports based the Pandora Papers, a massive data leak that publicly exposed confidential ...Read More

When the June 3 deadline for complying with the Sixth Anti-Money Laundering Directive hits, businesses around the world will be legally liable for KYC compliance. When the European Union’s Sixth Anti-Money Laundering Directive comes fully into force on June 3, every company that provides ...Read More