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ENFORCEMENT
AML / KYC
MAS, CAD Investigating Seatrium Over ‘Operation Car Wash’
By Editors | 16/06/2024
Seatrium disclosed that MAS and the Singapore police have requested further information for a joint investigation.
Crypto / Digital Assets
Japan Regulator Issues Orders Against Crypto Firm CoinBest
By Editors | 15/06/2024
CoinBest’s IEO operations are suspended and the company is required to make improvements to its management, internal control and AML/CFT systems.
Enforcement
Japan FSA Considers Penalties for MUFG Entities
By Editors | 15/06/2024
Japan’s SESC has formally recommended penalties for three MUFG units for unauthorised sharing of client information.
Enforcement
HK ICAC Charges Asset Manager for Laundering HK$50m
By Sanday Chongo Kabange | 14/06/2024
The ICAC charged Xiao Rui, the owner of asset manager Augustine Holdings, for laundering HKD 50 million.
Enforcement
US Court Jails Two Over Sanctions Evasion Scheme
By Editors | 13/06/2024
A Chinese national and US citizen were jailed for attempting to broker illicit oil sales between Iran and China and launder the proceeds.
Crypto / Digital Assets
Terraform, Do Kwon Agree $4.6b Settlement With US SEC
By Editors | 13/06/2024
The settlement comes after a New York jury in April found Terraform Labs and Do Kwon liable on civil fraud charges.
Enforcement
ASIC Issues First Stop Order Targeting Crowdfunding Campaign
By Sanday Chongo Kabange | 13/06/2024
ASIC issued an interim stop order against a crowd-sourced funding campaign because of its use of a nominee arrangement.
Enforcement
US Authorities Arrest Two for Illegal Russia Export Scheme
By Editors | 13/06/2024
The two men engaged in a scheme to covertly sell snowmobiles to Russia through an intermediary company in Hong Kong.
Enforcement
Korea’s Woori Bank Discovers Another Embezzlement Case – Report
By Editors | 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.
Crypto / Digital Assets
Thailand Revokes Crypto Licence Due to Regulatory Failures
By Nithya Subramanian | 12/06/2024
The SEC said the Minister of Finance has agreed to revoke Zipmex’s digital asset business licence to prevent damage to customers.
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