Business Today TheFoxPosts.com

New York has announced a $100 million settlement with Coinbase over what state officials called significant failures in the cryptocurrency trading platform’s systems for spotting potential criminal activity NEW YORK -- New York announced a $100 million settlement with Coinbase on Wednesday over what state officials called significant failures in the cryptocurrency trading platform's systems for spotting potential criminal activity. According to the state Department of Financial Services, Coi NBA se's anti-money-laundering program and its system for monitoring transactions for suspicious activity were inadequate for a company of Coi NBA se's size and complexity. The department said that the volume of alerts generated by Coi NBA se's transaction monitoring system grew so fast that reports of suspicious activity were sometimes filed months after the suspicious activity was first known to Coi NBA se. “It is critical that all financial institutions safeguard their systems...

Oklahoma has entered into four new settlements with opioid makers and distributors totaling more than $226 million OKLAHOMA CITY -- Oklahoma entered settlement agreements with three major pharmacy chains and an opioid manufacturer totaling more than $226 million, Attorney General John O'Connor announced Wednesday. Including the new settlements with drugmaker Allergan and pharmacy chains CVS, Walgreens and Walmart, Oklahoma has received more than $900 million from opioid makers and distributors to help address the state's opioid crisis, O'Connor said. “The opioid crisis has inflicted unspeakable pain on Oklahoma families and caused the deaths of thousands of Oklahomans,” O'Connor said in a statement. “Between 2016 and 2020, more than 3,000 Oklahomans died from opioid overdoses." Nearly all the settlement funds must be used to help remediate the affects of the opioid crisis in Oklahoma, including prevention and treatment services. In November, three of the lar...