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{% set headerFontFamily = "Lato" %} /* This affects only headers on the site. Add the font family you wish to use. You may need to import it above. */

{% set textColor = "#565656" %} /* This sets the universal color of dark text on the site */

{% set pageCenter = "1100px" %} /* This sets the width of the website */

{% set headerType = "fixed" %} /* To make this a fixed header, change the value to "fixed" - otherwise, set it to "static" */

{% set lightGreyColor = "#f7f7f7" %} /* This affects all grey background sections */

{% set baseFontWeight = "normal" %} /* More than likely, you will use one of these values (higher = bolder): 300, 400, 700, 900 */

{% set headerFontWeight = "normal" %} /* For Headers; More than likely, you will use one of these values (higher = bolder): 300, 400, 700, 900 */

{% set buttonRadius = '10px' %} /* "0" for square edges, "10px" for rounded edges, "40px" for pill shape; This will change all buttons */

After you have updated your stylesheet, make sure you turn this module off

FinTech Compliance Expertise

OFAC Enforcement Action and New Guidance for Instant Payment Systems

by InnReg

On September 30, 2022, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) published an enforcement release on the USD 116,048 settlement with Tango Card, Inc. (Tango Card).

Tornado Cash Sanction Implications for Fintech Sanctions Compliance Programs

by InnReg

On August 8th, 2022 the Ethereum smart-contract mixer Tornado Cash was sanctioned by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) for its role in laundering more than $7 billion worth of cryptocurrency since its creation in 2019. Of this amount, over $455 million was stolen by the North Korean state-sponsored hacking organization Lazarus Group which the US sanctioned in 2019.

FINRA’s Rule 5310: Why the Regulatory Focus on Best Execution is Here to Stay

by InnReg

In a move that only confirms the ongoing regulatory focus on best execution, the Financial Industry Regulatory Authority (FINRA) recently announced that it fined Deutsche Bank Securities, Inc. (Deutsche Bank) $2 million for failing to comply with its obligation to seek “best execution” for its customers’ orders, according to a press release on March 8.

Lessons From The OFAC Compliance Settlements With SAP And MoneyGram

by InnReg

It is essential to ensure that you implement proper IP address tracing protocol for any cloud-based services which may be used by someone in a foreign country. If you work with third-party vendors who engage with people in other countries, you must complete proper due diligence to ensure that they are not selling your services to people on an SDN list. If you do business with people from foreign countries, you must ensure that they are not blocked by the Department of the Treasury. Finally, it is important to ensure that you have a proper Compliance and Audit team to ensure that you are able to audit your own systems and ensure that no violations are occurring.

The Ascension Case: A Good Example of GLBA Violations

by InnReg

On January 6, 2021, it was announced that Ascension Data and Analytics, LLC ("Ascension") settled a lawsuit with the Federal Trade Clinician ("FTC") which claimed that they breached the Gramm-Leach-Bliley Act ("GLBA") Safeguard Rules by failing to properly assure that the security provisions of their third-party service provider to ensure if properly protected consumers identifying financial information. This case serves as a warning to all companies using third party vendors.