Fintech / Regtech

UK PSR Rejects Calls to Delay Fraud Reimbursement Rules

11/06/2024

Interim head of the PSR, David Geale, said there was a need to “act quickly” on APP fraud and that the new rules would be introduced in October as planned.

Sanctions

OFAC Imposes New Sanctions Targeting Illicit Houthi Shipments

10/06/2024

The targets include four entities, including Hong Kong-, India- and Panama-based shipping companies and some of their vessels.

AML / KYC

TD Bank Facing $4bn in Fines for AML Violations – Report

10/06/2024

The amount is double previous estimates, prompted by the emergence of new bribery allegations against the bank.

Enforcement

Former AllianzGI Fund Manager Pleads Guilty to Fraud

10/06/2024

Gregoire Tournant admitted to providing deceptive information to investors in AllianzGI’s now-defunct Structured Alpha funds.

Securities / Derivatives

HKEX Targets September for Severe Weather Trading Launch

10/06/2024

HKEX is working to finalise the severe weather trading model and has set an internal target for implementation in September.

Sanctions

Myanmar NUG Seeks to Recover $1b Frozen at NY Fed

10/06/2024

Myanmar’s National Unity Government is seeking the return of funds that were frozen in the US after the 2021 military coup.

Sanctions

G7 Expected to Issue Warning to Chinese Banks This Week

09/06/2024

G7 leaders are expected to issue public statements this week warning smaller Chinese banks about the help they provide to Russia.

Enforcement

DOJ Secures Guilty Plea in Russia Export Control Case

08/06/2024

A US-Russian national sent firearm parts, components, and ammunition from the US to Russia, including via Kazakhstan.

Sanctions

Whistleblower Alleges AWS Breached UK Sanctions – Report

08/06/2024

A former AWS employee alleges he was unfairly dismissed for raising concerns about facial recognition technology being illegally supplied to Russia.