- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2021-01-26T15:30:00
The Financial Crimes Enforcement Network for a second time has extended the comment period for portions of its proposed AML rules aimed at peeling back the anonymity of certain kinds of cryptocurrency transactions.
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FinCEN Director Kenneth Blanco, who has served in the position since December 2017, will step down April 9, and Michael Mosier, formerly the deputy director of FinCEN, will return to the agency as acting director.
FinCEN has proposed a new rule looking to subject cryptocurrency transactions to similar AML reporting requirements placed on other financial institutions by the Bank Secrecy Act.
The U.K. Financial Conduct Authority has fined Metro Bank 16.6 million pounds (U.S. $21 million) for an alleged failure by its automated system to adequately monitor money laundering risks.
With the presidential election this week, one fear has remained on the minds of voters regardless of their political stripe–that artificial intelligence will be misused to change the outcome of the race.
Ireland’s cozy relationship with big business and Big Tech has once again come under scrutiny after the country’s media regulator allowed a $15 million one-off funding payment from Meta’s Oversight Board Trust to help launch the newly formed Appeal Centre Europe.
Contract workers’ rights are in the spotlight in the U.K. and some EU countries as governments seek to end exploitative practices by eliminating zero-hours contracts, much to the chagrin of some business leaders.
