Skip to content


European Union approves requirements for traceability of cryptocurrency

By Charlotte Hill

Top story

European Union approves requirements for traceability of cryptocurrency

The European Anti-Money Laundering Council has approved new regulations aimed at enhancing the traceability of cryptocurrency transfers. The rules require cryptocurrency service providers to collect and retain data on senders and recipients involved in transactions, similar to traditional financial institutions. The regulations aim to address concerns about money laundering and terrorist financing facilitated through digital currencies. By increasing transparency and accountability, the measures aim to prevent illicit activities and protect the integrity of the financial system. The rules also encourage cooperation among EU member states in sharing information and coordinating investigations related to cryptocurrency transactions. The adoption of these regulations represents a significant step towards regulating the rapidly growing cryptocurrency market and ensuring compliance with anti-money laundering standards.


SEC’s climate disclosure rule under threat from Supreme Court case

A Supreme Court review of a decades-old regulatory precedent is threatening to challenge the Securities and Exchange Commission's (SEC) climate disclosure rule. The rule requires companies to disclose their climate change risks and impacts to investors. The case centers around a 2010 lawsuit against an energy company, alleging that it made misleading statements about its environmental compliance. The lawsuit argues that the SEC's climate disclosure rule is unconstitutional and violates the First Amendment. If the Supreme Court rules in favor of the plaintiffs, it could undermine the SEC's authority to enforce climate-related disclosure requirements, impacting transparency and accountability for investors regarding climate risks. The outcome of this case could have significant implications for future climate-related disclosure regulations and the role of the SEC in addressing climate change.

Germany transposes the EU Whistleblower Directive

Germany has introduced a new whistleblower law aimed at improving compliance and ethics. The law provides protection and incentives for whistleblowers who report violations of laws and regulations. It requires companies with more than 50 employees to establish internal reporting channels and appoint a compliance officer. Whistleblowers will be shielded from retaliation and can report anonymously. In return, they may receive financial rewards for their disclosures. The law aims to enhance transparency, accountability, and ethical practices in the corporate sector and encourages a culture of reporting wrongdoing.


Skincare company settles for USD 2.5 million for Iran sanctions violation

Skincare company Murad has reached a settlement agreement to resolve allegations of violating US sanctions against Iran. The company is accused of engaging in unauthorized transactions with an Iranian distributor, which led to the export of products to Iran. The settlement requires Murad to pay a fine of $2.5 million and implement compliance measures to prevent future violations. The case highlights the importance of adhering to sanctions regulations, as violating them can result in significant financial penalties. Murad has cooperated with the investigation and is committed to ensuring compliance with all applicable laws and regulations. The settlement serves as a reminder for businesses to carefully review their international trade practices to avoid running afoul of sanctions.

Former Apple employee indicted in restricted technology crackdown

An ex-Apple engineer has been indicted as part of a crackdown on the flow of restricted technology to China and Russia. The engineer allegedly stole trade secrets related to Apple's autonomous vehicle project and attempted to pass them on to a Chinese startup. The stolen information included sensitive details about the project's underlying hardware and software designs. The indictment highlights the concerns surrounding intellectual property theft and the potential national security implications. It also reflects the increasing scrutiny on technology transfers to China and Russia. The case serves as a reminder of the ongoing efforts to protect valuable trade secrets and prevent unauthorized technology transfers to foreign entities.

Deutsche Bank settles lawsuit with Jeffrey Epstein’s victims

Deutsche Bank has agreed to pay $75 million to settle a lawsuit filed by victims of convicted sex offender Jeffrey Epstein. The lawsuit alleged that the bank had ignored red flags and continued to do business with Epstein, enabling his illicit activities. The settlement will compensate the victims and establish a fund for any potential future claimants. As part of the settlement, Deutsche Bank has also agreed to implement stricter internal controls and compliance procedures to prevent similar incidents in the future. The settlement marks a significant step for the victims seeking accountability from financial institutions associated with Epstein, though it falls short of a public trial. This settlement comes after years of scrutiny surrounding Epstein's financial relationships with prominent individuals and institutions.

Related reading

Join the E&C Community

Get the latest news from GAN Integrity in your inbox.