OFAC sanctioned a number of financial services firms for facilitating transactions or offering other services that helped OFAC-designated entities evade Ukraine war sanctions.
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The CFTC issued Orders permitting the clearing activities of the Taiwan Futures Exchange and ICE NGX Canada.
Senate Banking Committee Chair Sherrod Brown urged Cameron Fowler, the CEO of Zelle, the instant payment platform co-owned by seven "Big Banks," to clarify the firm's policies protecting consumers from scams.
The Treasury Department issued the 2024 National Terrorist Financing Risk Assessment and the 2024 National Proliferation Financing Risk Assessment. The assessments are intended to assist both public and private sectors in understanding the current illicit finance environment and developing appropriate risk mitigation strategies.
Senate Banking Committee Chair Sherrod Brown warned that "scammers and fraudsters have ramped up their efforts to take people’s money" through peer-to-peer payment apps, and criticized banks and financial service companies for standing "on the sidelines."