Category: AML

Regulatory Watch News

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  Treasury Takes Additional Sanctions Actions Across Bosnia and Herzegovina

  OFAC

  October 3, 2022

  WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two individuals and one business entity in Bosnia and Herzegovina (BiH) pursuant to Executive Order (E.O.) 14033. These designations follow OFAC’s September 26, 2022 designation of a corrupt state prosecutor in BiH and build on other recent sanctions imposed on individuals and entities in the region. Collectively, these actions underscore the United States’ willingness to hold accountable those enabling divisive and destabilizing activities in the Western Balkans.

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  Landmark U.S.-UK Data Access Agreement Enters into Force

  US Department of Justice

  October 3, 2022

  The Agreement between the Government of the United States of America and the Government of the United Kingdom of Great Britain and Northern Ireland on Access to Electronic Data for the Purpose of Countering Serious Crime (“Data Access Agreement” or “Agreement”) entered into force today. The Agreement is authorized by the Clarifying Lawful Overseas Use of Data (CLOUD) Act, a law enacted by Congress in 2018, and will be the first agreement of its kind, allowing each country’s investigators to gain better access to vital data to combat serious crime in a way that is consistent with privacy and civil liberties standards.

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  SEC Charges Kim Kardashian for Unlawfully Touting Crypto Security

  SEC

  October 3, 2022

  Washington D.C., Oct. 3, 2022 —

  The Securities and Exchange Commission today announced charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Kardashian agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission’s ongoing investigation. The SEC’s order finds that Kardashian failed to disclose that she was paid $250,000 to publish a post on her Instagram account about EMAX tokens, the crypto asset security being offered by EthereumMax. Kardashian’s post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens.