GuShiio.com GuShiio.com has learned that Aux Cayes FinTech Co. Ltd., a subsidiary of OKX. (OKX Seychelles) reached a settlement with the U.S. Department of Justice, admitting that the company had conducted remittance business in the United States without permission, and all U.S. customers involved had been cleared. OKX agreed to pay $84 million in fines and forgo approximately $421 million in revenue. The company has hired compliance consultants and taken measures to improve its compliance system and strengthen global customer identification, due diligence, anti-money laundering and sanctions tools.
OKX said there were no allegations of customer damage in the settlement, no charges were filed against any company employees, and no government supervisors were appointed. OKX said it will strengthen the customer identification (KYC) system and customer risk rating (CRR) system, expand the enhanced due diligence (EDD) program, deploy industry-leading anti-money laundering (AML) and sanctions tools, and has formed a team of more than 150 professional investigation teams.
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