Block Inc. has been fined by the New York Department of Financial Services (NYDFS) for significant shortcomings in its anti-money laundering (AML) and compliance practices, particularly within its Cash App platform.

Ripple and Ondo Finance have partnered to bring Ondo Short-Term U.S. Government Treasuries (OUSG) to the XRP Ledger (XRPL), backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).

The Bank for International Settlements (BIS), in collaboration with central banks from Australia, Korea, Malaysia, and Singapore, has successfully demonstrated how regulatory compliance can be embedded into cross-border financial transactions.

Source: ADGM

ADGM, the leading International Financial Centre (IFC) of the UAE’s capital, has signed a Memorandum of Understanding (MoU) with Chainlink, the standard for onchain finance, marking a major step in advancing compliant tokenisation frameworks.

A joint report by Nasdaq and Boston Consulting Group (BCG) reveals that financial institutions could achieve between $25 billion and $50 billion in annual savings by streamlining their Risk and Compliance functions.

One of the central challenges in cross-border payments is navigating the complex and varied policy and regulatory frameworks imposed by different jurisdictions. These differences increase the regulatory compliance burden across the payment chain, slow down transaction times, and create uncertainties for stakeholders. In response, central banks are taking proactive steps to address these issues through Project Mandala, a proof-of-concept initiative led by the BIS Innovation Hub.

Source: Vistra

Vistra, a leading provider of essential business services that help organisations to invest, grow and operate efficiently and compliantly across the world, today launched Geni, the world's first global AI compliance advisor.

The Office of the Comptroller of the Currency (OCC) has issued a cease-and-desist order against Bank of America, N.A., citing significant deficiencies in the bank’s Bank Secrecy Act (BSA) and sanctions compliance programs. The enforcement action highlights violations and unsafe practices, including delays in filing suspicious activity reports and unresolved issues in the bank’s Customer Due Diligence processes.

Source: Global Relay

Global Relay, the leading provider of communications compliance solutions for regulated industries, announces its integration between OpenAI’s ChatGPT Enterprise Compliance API and Global Relay’s financial compliance platform.

This Sunday, February 2, key provisions of the EU AI Act will take effect, including the ban on AI systems deemed to pose an "unacceptable risk" and the deadline for meeting AI literacy requirements.

 The recent re-election of Donald Trump to the U.S. presidency has sparked numerous discussions about the direction of government policy and its impact across various sectors.

Source: Samana Developers

In a proactive move to bolster transparency and security within its operations, Samana Developers, a leading real estate company, has appointed Complyfin, a Dow Jones-affiliated solution provider which assists businesses in managing their regulatory compliance obligations, including on Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) compliance measures.