Financial Crime Financial Crime

Comment: Kraken sanctions settlement highlights crypto firms’ need for ongoing IP address screening

By Samuel Rubenfeld
  • 02 Dec 2022 22:21
  • 02 Dec 2022 22:21
The cryptocurrency exchange Kraken conducted sanctions screening when onboarding customers, but it did not maintain the monitoring throughout the lifespan of an account, and it ended up processing about $1.7 million worth of transactions located in Iran, according to a recent settlement with US authorities.

The US Treasury Department’s Office of Foreign Assets

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Samuel Rubenfeld


Samuel Rubenfeld is a reporter covering cases of bribery and corruption and some international trade issues. Prior to joining MLex, he was editor of the Kharon Brief, a news and data analysis platform focused on global security issues, including sanctions and export controls. Earlier in his career, Rubenfeld spent about a decade at The Wall Street Journal, including nearly nine years as a reporter covering corporate risk and compliance concerns such as bribery, money laundering, sanctions, terrorist financing and whistleblowers.

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