sanctions

Wells Fargo Fined $97.8 Million for Sanctions-Related Violations
Wells Fargo Fined $97.8 Million for Sanctions-Related Violations
March 30, 2023  |  Bank Regulation

Wells Fargo has been fined $97.8 million for sanctions-related violations from 2010 to 2015. The bank reached settlements of $67.8 million with the Federal Reserve...

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JPMorgan, Citi and Others Keep Russia Ties Open at US Request
JPMorgan, Citi and Others Keep Russia Ties Open at US Request
November 07, 2022  |  Banking

Aiming to keep money flowing in the global economy even as it enforces sanctions against some Russian targets, the United States federal government has reportedly...

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Russian Financial Regulators Explore Cross-Border Crypto Payments
Russian Financial Regulators Explore Cross-Border Crypto Payments
September 25, 2022  |  Cryptocurrency

Russian authorities are working on a way to use cryptocurrencies for settlements with other nations amid the sanctions related to the Russia-Ukraine war. The country’s...

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US Treasury Blacklists Bitcoin Addresses Linked to Iranian Ransomware Group
US Treasury Blacklists Bitcoin Addresses Linked to Iranian Ransomware Group
September 14, 2022  |  Legal

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned 10 individuals and two entities for their roles in ransomware activity, cyber-espionage and...

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Sanctions-Busting Russian Stablecoin Would Test US Regulations
Sanctions-Busting Russian Stablecoin Would Test US Regulations
September 07, 2022  |  Cryptocurrency

Get ready to see the stablecoin regulation wars heat up. Tuesday (Sept. 6), Russia’s official government news agency, Tass, reported that the government was turning...

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UK Warning on Sanction Evasion Puts Crypto Firms at Risk
UK Warning on Sanction Evasion Puts Crypto Firms at Risk
August 25, 2022  |  Security & Fraud

People subject to sanctions are reportedly using cryptocurrency services to evade the sanctions, and this could put crypto firms and those transacting in crypto at...

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Sanctions Against Crypto Mixer Raise Broader Compliance Fears
Sanctions Against Crypto Mixer Raise Broader Compliance Fears
August 16, 2022  |  Cryptocurrency

It’s not just the libertarians who are concerned about the implications of the U.S. blacklisting a crypto mixing site allegedly used by North Korean hackers....

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Auto Verification of Bank Account Owners Is Key to Sanctions Compliance
Auto Verification of Bank Account Owners Is Key to Sanctions Compliance
May 27, 2022  |  Regulation

Sanctions have been dominating headlines. Nithai Barzam, COO of nsKnox, a corporate payment security company, told PYMNTS’ Karen Webster that beyond the sanctions that have...

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Russian-Built Payment System Capitalizes on Visa, Mastercard Exit
Russian-Built Payment System Capitalizes on Visa, Mastercard Exit
April 20, 2022  |  Credit Cards

Russian and Chinese entities that provide alternatives to the dominant Visa and Mastercard payment networks may reap significant benefits from sanctions the West imposed in...

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