AML / KYC

AUSTRAC to Deliver New Reporting Platform in “Coming Months”

15/07/2024

AUSTRAC said in 2021 that it would be replacing its reporting system. The final stage of features will be delivered in the “coming months”.

AML / KYC

Crypto Firm BitMEX Pleads Guilty to US Criminal Charge

15/07/2024

BitMEX said its founders were already sentenced for BSA charge in 2022 and that it has since fully remediated its deficiencies and will seek an expedited sentencing hearing.

Enforcement

Korean Authorities Arrest KB Kookmin Employee

14/07/2024

The employee used nonpublic information about listed companies to make about KRW 6 billion in unfair trading profits.

Capital / Liquidity

Japan FSA Establishes Specialist Team at Kirayaka Bank

14/07/2024

The specialist team will provide advice to the troubled bank on management restructuring and improving its loan screening system.

NZ Aligns Rules Across Dispute Resolution Schemes

14/07/2024

The maximum compensation limit is being aligned at NZ$500,000 across four financial dispute resolution schemes.

Enforcement

ANZ Under Scrutiny for Misreported Bond Trading Data

14/07/2024

ANZ reportedly overstated the value of government bonds it traded and amplified its ranking against peer banks.

Crypto / Digital Assets

Lithuania Fines Crypto Firm Payeer for Sanctions, AML Breaches

14/07/2024

Lithuanian authorities said Payeer offered services to Russian customers and allowed them to carry out transactions with sanctioned banks.

AML / KYC

Taiwan Enacts New Laws to Strengthen Anti-Fraud Defences

13/07/2024

The new laws increase the penalties for fraud that results in illegal gains and strengthens measures in the financial and telecom sectors.

Sanctions

FinCEN Issues New Alert on Financing of West Bank Violence

12/07/2024

The alert provides additional red flag indicators. New sanctions on three individuals and five entities also announced.