AML / KYC

Danske Bank to Pay $2bn to Resolve DOJ, SEC Probes

15/12/2022

Danske Bank admitted to allowing high-risk non-resident customers from other countries including Russia to use its Estonia branch to access US banks.

Enforcement

UK FCA Fines Metro Bank for Incorrect RWA Disclosure

14/12/2022

The bank published incorrect information concerning its risk-weighted assets and did not disclose the error to investors despite knowing it was wrong.

Fintech / Regtech

FSC Korea Unveils New Support Measures for Fintech Startups

14/12/2022

The measures include new funding for innovative firms, regulatory relaxations, and improvements to the sandbox programme.

ASIC Directs Super Funds to Improve Complaints Handling

14/12/2022

Superannuation trustees are not responding to complaints in a timely manner and are failing to notify consumers of their right to approach AFCA.

AML / KYC

FTX Founder Arrested, Charged by SEC, SDNY, CFTC

14/12/2022

US authorities have charged Sam Bankman-Fried for defrauding customers, investors, lenders, and campaign finance violations.

Fintech / Regtech

India to Standardise Icons Used in Payment Apps to Curb Fraud

08/12/2022

Project Pratima aims to introduce a uniform set of icons for basic payment actions and processes, curb fraud, and boost digital payments adoption.

Crypto / Digital Assets

Europol Issues Recommendations on Crypto-related Money Laundering

08/12/2022

Europol recommends close cooperation between enforcement bodies and crypto providers to curb associated crime and money laundering.

AML / KYC

AUSTRAC Launches Federal Court Proceedings Against SkyCity

08/12/2022

The proceedings against SkyCity are the third AUSTRAC has brought against casino operators, after similar cases were launched against Star and Crown casino entities.

ESG / Sustainability

SEBI Planning Regulatory Changes in the ESG Space

07/12/2022

SEBI is planning to simplify its BRSR framework to take into account local market conditions, mandate ESG audits, and regulate ESG rating providers.