The U.S. Department of Justice has secured a guilty plea from Florida-based insurance brokerage AP of South Florida (APSF) and a $107 million civil settlement with AssuredPartners, Inc., marking one of the more striking enforcement actions tied to fraud in the Affordable Care Act marketplace in recent years.
In a joint proposal released Wednesday, the Financial Crimes Enforcement Network and the Office of Foreign Assets Control laid out how payment stablecoin issuers would be brought under anti-money laundering and sanctions rules through the GENIUS Act. The direction of travel is straightforward. If you issue a payment stablecoin in the U.S., you should expect to operate more like a bank than a tech platform.
The Swiss Federal Council has opened a consultation on a proposed Federal Act on Sustainable Business Management, setting out a new framework that would require large Swiss companies to strengthen oversight of human rights and environmental risks in their operations.
The Netherlands Authority for the Financial Markets has warned that artificial intelligence is being adopted rapidly across the Dutch asset management sector, but many firms are still falling short on governance, policy, and internal controls.
There has long been an unspoken tension at the heart of anti-money laundering compliance. Banks file more reports, build more controls, document more processes, and yet the question lingers. Is any of it actually stopping bad actors? The Financial Crimes Enforcement Network (FinCEN) took a direct swing at that question, proposing a rule that would fundamentally reshape how financial institutions are expected to approach AML and counter-terrorist financing programs under the Bank Secrecy Act.
Meta has paused its work with data vendor Mercor after a security breach that may have exposed sensitive elements of how leading AI models are trained. The decision, first reported by WIRED, is open-ended. For now, the work simply stops.
Italy’s competition authority has handed Revolut more than €11 million in fines, concluding that the fintech group misled customers about its investment offering and used heavy-handed practices when restricting access to bank accounts.