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WEEKLY NEWS | 15 AUGUST 2022 | 159


Feature News
Preparing your organisation for increased financial crime compliance management

As regulatory pressure on the financial sectors in Asia Pacific and the Middle East ramps up, regulators are flexing their enforcement muscle by adopting zero tolerance to breaches and misconduct.

Economy News
Danger ahead: The U.S. economy has yet to face its biggest recession challenge

You’d be hard-pressed now to find a recession in the rearview mirror. What’s down the road, though, is another story. There is no historical precedent to indicate that an economy in recession can produce 528,000 jobs in a month, as the U.S. did during July. A 3.5% unemployment rate, tied for the lowest since 1969, is not consistent with contraction.

But that doesn’t mean there isn’t a recession ahead, and, ironically enough, it is the labor market’s phenomenal resiliency that could pose the broader economy’s biggest long-run danger.

In its first crypto-related enforcement action, the New York State Department of Financial Services (NYDFS) levied a fine of $30 million on the cryptocurrency trading subsidiary of online brokerage Robinhood Markets Inc. for alleged violations of anti-money-laundering and cybersecurity standards.

The financial regulator for the state of the of New York announced on August 2 that Robinhood Crypto LLC had failed to maintain and certify compliant anti-money-laundering and cyber-security measures, according to a report published by The Wall Street Journal.

Compliance News
Robinhood Crypto fined $30 million for alleged anti-money-laundering violations
Dollar edges lower as traders await U.S. inflation report
Money News

NEW YORK, Aug 9 (Reuters) - The dollar edged lower on Tuesday in thin summer trading with market participants in wait-and-see mode ahead of  ......

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