Fraud, Scams & Cybercrime

Terraform, Do Kwon Agree $4.6b Settlement With US SEC

13/06/2024

The settlement comes after a New York jury in April found Terraform Labs and Do Kwon liable on civil fraud charges.

PEPs & Sanctions

US Authorities Arrest Two for Illegal Russia Export Scheme

13/06/2024

The two men engaged in a scheme to covertly sell snowmobiles to Russia through an intermediary company in Hong Kong.

Structural Regulation

China Considers Tighter Fund Selling Rules for Banks

13/06/2024

The NFRA is considering revisions that would block banks from selling private fund products, including hedge funds.

Fraud, Scams & Cybercrime

Korea’s Woori Bank Discovers Another Embezzlement Case – Report

13/06/2024

An employee at one of Woori’s branches forged documents related to loans and deposits to embezzle funds that were used to invest overseas.

Market Abuse

Shanghai Chipmaker Barred from Launching IPO for 5yrs

12/06/2024

The company, already penalised for inflating its 2020 profits, is now barred from listing its shares for five years.

Cryptocurrency

Australia Bans Use of Crypto, Credit for Online Gambling

12/06/2024

Cryptocurrencies, credit cards, and other new forms of credit cannot be used as payment methods for online gambling.

Sustainable Finance

Japan Carbon Market Study Group Holds First Meeting

12/06/2024

Discussions centred around ensuring certification organisations are reliable and whether IOSCO’s recommendations should be adopted.

PEPs & Sanctions

Russia to Dirupt FATF Plenary in Singapore, Ukraine Warns

12/06/2024

Ukraine is reportedly warning that Russia will send officials to the FATF Plenary in an attempt to “contact, influence and pressure delegates”.

Structural Regulation

Japan Passes Law to Allow Intangible Assets as Loan Collateral

12/06/2024

The law will enable businesses to obtain loans backed by future cash flows and other intangible assets such as intellectual property.