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NEWS: Crypto firm Nexo – under AML investigation in EU – pays $45M fine to SEC for failing to register lending product

Premium January 20, 2023

NEXO FINED. The U.S. Securities and Exchange Commission headquarters in Washington. The SEC has fined crypto firm Nexo $45M.

INSIGHT: Compliance managers see €15K rise in salary to €85K; CCOs earning €195K – report

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NEWS: UAE, Gibraltar set to remain on EU’s ‘high risk’ watchlist until September at earliest

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LATEST: European Parliament officially adopts Europe’s new AML laws and establishment of AMLA

Nexo Capital Inc has agreed to pay $45M in penalties to settle charges from the US Securities and Exchange Commission (SEC) and state regulators that the crypto firm failed to register its crypto asset lending product. Nexo has agreed to pay a $22.5 million penalty to the SEC and another $22.5 million in fines to…

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INSIGHT: Compliance managers see €15K rise in salary to €85K; CCOs earning €195K – report

 Premium

NEWS: UAE, Gibraltar set to remain on EU’s ‘high risk’ watchlist until September at earliest

 Premium

LATEST: European Parliament officially adopts Europe’s new AML laws and establishment of AMLA

Regulatory Watch News

  • Founders and CEO of cryptocurrency mixing service arrested and charged with money laundering and unlicensed money transmitting offenses

    IRS Criminal Investigation

    Keonne Rodriguez and William Lonergan Hill are charged with operating Samourai Wallet, an unlicensed money transmitting business that executed over $2 billion in unlawful transactions and laundered over $100 million in criminal proceeds

  • Treasury Targets Networks Facilitating Illicit Trade and UAV Transfers on Behalf of Iranian Military

    OFAC

    WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning over one dozen entities, individuals, and vessels that have played a central role in facilitating and financing the clandestine sale of Iranian unmanned aerial vehicles (UAVs) for Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL), which itself is involved in supporting Iran’s Islamic Revolutionary Guard Corps (IRGC) and Russia’s war in Ukraine.

  • Financial sanctions update: Iran

    OFSI

    On 25 April 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. The following 6 entries have been added to the Iran financial sanctions regime and are now subject to an asset freeze:

    • Abbas Abdi Asjerd (Group ID: 16483)
    • Seyed Mohsen Vahabzadeh Moghadam (Group ID: 16480)
    • Alvand Motorbuilding Industries Company (Group ID: 16482)
    • Bonyan Danesh Shargh Private Company (Group ID: 16481)
    • Moj Gostar Aseman Parvaz Company (Group ID: 16479)
    • Pishro Sanat Aseman Sharif Company (Group ID: 16484)

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