OCCS reaches 955 million non-compliance with Doy

Global Crypto Exchange OCCS has agreed to pay $ 505 million in punishment after guilty to handling an unlicensed business that conveys money in contrast to American laws against money laundering.

The settlement accompanies the investigation of the US Ministry of Justice, which has been determined that certain American customers are traded on the OCCS global platform despite the official policy of the company by banning US users since 2017. years. Matching offenses covered in this settlement held between 2018. year 2024.

According to the OCCS official The announcement, the sentence includes a fine of $ 84 million, and fees for $ 421 million earned by US customers, most of whom were institutional clients.

OCCS’s parent company, AUK CAIES FINTECH CO. Ltd., recognized the failure of compliance, but emphasized that not reports were made to harm customers, and no employees were collected.

The OCCS stated that he volunteered a consultant for compliance to strengthen its regulatory practices before settlement and will continue to work with a consultant to improve his global compliance framework.

Indicate investment In knowledge of your customer, AML instruments, monitoring transactions and investigation of financial crime, the company further emphasized its commitment to regulatory respect.

In a period of 24 x post, the OCKS CEO Star Xi reiterated the company’s commitment to regulatory transparency, saying the company’s goal determine OCCS as an industry standard for harmonization in international markets.

“We will continue to mature our business of conformity and work closely with global regulators. Our vision becomes a gold standard of global compliance on a scale in different markets and their respective regulatory bodies. I’m proud of our company.”

– Star Xi, CEO

The settlement is a landmark for the cryptocurrent sector as regulators around the world tighten Their supervision of exchange operating in several jurisdictions.