- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-07-12T16:57:00
The parent company of crypto-trading platform BitMEX is again facing charges of violating the Bank Secrecy Act (BSA), the latest in a string of punishments against the company and its founders for failing to implement adequate know your customer and anti-money laundering (AML) programs.
HDR Global Trading, incorporated on the island of Seychelles, pled guilty to one count of violating the BSA, the Department of Justice (DOJ) announced in press release Wednesday.
From 2015-20, BitMEX operated a cryptocurrency trading platform “without any meaningful [AML] program,” as required by the BSA, the DOJ said.
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Manfred Bekeris, chief compliance officer at cypto peer-to-peer network Paxful, sat down with Compliance Week to talk about joining the company shortly before its former chief operating officer and co-founder pled guilty to violating the Bank Secrecy Act.
Arthur Hayes and Benjamin Delo, co-founders of cryptocurrency exchange and derivative trading platform BitMEX, were each fined $10 million as part of guilty pleas for anti-money laundering violations under the Bank Secrecy Act.
Cryptocurrency platform BitMEX has agreed to pay $100 million as part of a settlement with the CFTC and FinCEN for multiple violations of the Bank Secrecy Act and other anti-money laundering laws.
Women’s apparel importer Alexis agreed to pay nearly $7.7 million to settle allegations, first raised by a whistleblower, that it intentionally underpaid customs duties, according to the Department of Justice.
The U.K. Information Commissioner’s Office proposed a 6.1 million pound (U.S. $7.8 million) fine against Advanced Computer Software Group, an IT contractor for the National Health Service that allegedly failed to secure the data of 83,000 people after a cyberattack.
New York-based broker-dealer OTC Link will pay a $1.2 million fine to settle charges levied by the Securities and Exchange Commission over allegedly failing to implement a system to monitor and report potential suspicious activities on its platforms.
