Anti-Financial Crime & Financial Crime CompliancePage 1/1
Banking, Crypto, Financial Services, UK
Premium
Banking, Financial Services, News
Premium
Banking, EU/Europe, Technology
Premium
OFAC
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 28 individuals and entities involved with the international proliferation of illicit drugs, including a China-based network responsible for the manufacturing and distribution of ton quantities of fentanyl, methamphetamine, and MDMA precursors. Those designated by OFAC today are also involved in the global trafficking of xylazine and “nitazenes,” which are highly potent and often mixed with illicit fentanyl or other drugs.
BaFin
On 29 September 2023, the Federal Financial Supervisory Authority (BaFin) appointed a special representative for Deutsche Bank AG. The special representative is tasked with monitoring the bank to ensure that it quickly and comprehensively resolves the disturbances affecting the retail banking business of its Postbank and DSL Bank branches.
US Department of Justice
Genomic Health, Inc. (GHI), a Delaware corporation headquartered in Redwood City, California, has agreed to pay $32.5 million to resolve allegations that it violated the False Claims Act by engaging in a nationwide scheme to improperly bill Medicare for certain laboratory tests used to diagnose and treat cancer patients. GHI is a wholly owned subsidiary of Exact Sciences Corporation, which acquired GHI in November 2019.